Pros and Cons
New Home Construction
Pros:
*Modern floor plan (open sapce, flex rooms, larger windows)
*Delayed major maintenance costs (such as roof or HVAC)
*Lower utility bills as a result of stricter building codes and newer energy efficient products
*More upfront personalization Builder warranties on materials, workmanship and structural items
Cons:
*Higher upfront costs
*Special financing, such as construction loans, often needed
*Longer wait times
*Often farther from amenities, jobs
*Sparse landscaping
Existing Home Construction
Pros:
*Lower priced options available
*Established neighborhoods
*Mature landscaping
*Move-in ready
*Value add-on potential with remodels and cosmetic updates
Cons:
*Outdated floor plans
*More repairs and maintenance
*Higher utility bills if products and materials are less energy-efficient
*Less personalized
*Competition from other buyers
This information explains both the pros and cons of new-home construction versus existing-home construction. A decision you need to consider if you are contemplating to purchase a home.
Leave a Reply