Here are a few pros and cons when it comes to buying a new build versus a resale home.
What even is the difference between a new build home and a resale home?
Well, a new build is exactly what it sounds like—a newly built home that you purchase directly from the builder. A resale home is an existing home that you purchase from a normal seller.
So which is better to buy? Each option has its own pros and cons.
The pros of buying a new build are that the house is new—hopefully, nothing needs to be fixed and is warrantied for a certain period—and you get to choose the finishes of the home.
The cons of new builds are that they’re usually in the suburbs, which means that your commute to work could be a bit longer if you work in the heart of the city. These types of homes are often squeezed together, meaning your land space is more constricted.
Now, with resale homes, you have the opportunity to get into a better neighborhood with more land, or even a developing neighborhood where prices are set to rise. Location is everything in real estate, and that needs to be considered when it comes to buying resale homes. Buying resale homes also allows you to deal directly with the seller, which can allow you to factor in emotion to get better deals.
A con of buying a resale home is that what you get is what you get—you won’t be able to ask the seller to change the countertops or the flooring to suit your taste. Oftentimes, there are also a number of repairs that will need to be done.
If you have any questions or would like more points to help you decide whether buying a new build or resale home is the better choice for you, don’t hesitate to reach out to me.