Low inventory is one of the biggest challenges potential buyers face in today’s real estate market. With relatively few homes for sale and construction of newly built homes ramping up, you may be wondering if new construction should be part of your search process. It’s a question many potential buyers are beginning to ask. With that in mind, there are a few things to consider when determining whether new construction or pre-owned is right for your family. To learn more about some of the pros and cons of each watch the following video or continue reading below.

New Construction

For many, nothing really compares to brand new, but beyond the fact that you will be first to occupy the home there are number of advantages to buying a new home beyond the obvious.

Energy Efficiency

New homes are built using the latest techniques and materials that can make a big difference when it comes to energy costs. New appliances, better insulation, smart technology, windows, roof etc. can all help lower energy costs. When we moved into our new home we were amazed to find that our summer electricity bills were half what some of our friends were paying whose homes were 15 years old plus.

Low Maintenance

Another benefit of a new construction home is the lower maintenance associated with ownership, es[ecially for the first few years. There will unlikely be numerous little repairs to tackle like repainting facia and outside trim, fixing a leaky faucet, or the other numerous jobs that seem to have a habit of filling up your weekend. Your new home will also come with an all-inclusive warranty for the first year that will cover all minor fixes that do appear. Beyond the first year, major structural components such as windows, HVAC, flooring etc. will be covered under warranty for several years.

Customization

A major benefit to new construction is your ability to customize the home to the way you want it. This is especially advantageous as it relates to structural items like an additional bedroom or bathroom, which is costly and inconvenient to do in a pre-owned home. In addition to being able to customize the floorplan you are also able to make all of the design selections so you know you’ll get the cabinets, counters, appliances, and flooring that you want.

CLICK HERE to Search all New Homes Currently For Sale in Frisco

Pre-Owned Home

While you may not get all of the features and options in a pre-owned home that you would in a new construction home there are still a number of advantages to buying pre-owned.

More Bang for the Buck

One of the main benefits of a pre-owned home is that you are likely going to be able to pay less than you would for a new construction home. The convenience of buying new often comes at a premium. Depending upon market conditions, it is also likely that a pre-owned home seller will be more flexible and willing to negotiate than a new home builder.
If you are wanting a home with an outdoor kitchen or a pool then a pre-owned home that already has these features will offer substantially more value than if you buy a new construction home and add these in yourself at a later date.

Established Neighborhood

While there is certainly something to be said about buying a new home, there is an appeal to driving into a neighborhood with mature landscaping and established families. Some buyers like to see the mix of neighbors, traffic patterns, and the number of people out walking dogs, or riding bikes, before making a buying decision. With new construction, you won’t know these things until after you’ve closed and moved in.

Timing

Unless you are buying an existing home from the builder, timing can be an issue for some buyers. With a pre-owned home, you will likely be able to move in 30 to 45 days after your offer has been accepted, whereas you might not be able to move for several months as you wait for the new home to be built. This timeframe can also be impacted by weather and other elements out of the builders control, like a pandemic! This can be an issue for some buyers especially if you are trying to move around work or school schedules.

CLICK HERE to See All Pre-Owned Homes Currently for Sale in Frisco

Bottom Line

Both new construction and pre-owned homes are great options. They each have their pros and cons and every family will have different circumstances driving their decision.
If you have questions and want to know which option may be the best for you, Let’s Connect so you can feel confident making a decision about your next home.