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*Outdated floor plans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.


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A full-time agent with RE/MAX for 17 years. Marketing Business Degree WCSU. Volunteer Danbury Hospital. RE/MAX Executive Club. Read More…