Is It Better For First-time Homebuyers to purchase New Homes or Resale Homes?

There was a point in time when the purchase of new home was always much more expensive than resale home. Until recently, that has all changed. As land costs increase, the size of new home lots has shrunk. Especially in Florida were it seems like every year the population doubles and the traffic in the roads increase. Furthermore, land becomes more value when the supply reduces. Construction materials have also become cheaper in order to attract the buyer. There are many things that go into place when determining whether or not a new home or a resale home is the right choice for you. The final decision will depend on each individual buyers needs.

Pros to Buying a New Home 

• Less maintenance
  New construction is meant to last for a while, so new-home owners are not likely to install a new roof or replace the water heater.
• Modern updates
  Many items are standard such as built-in dishwashers, refrigerators, microwaves, and wine coolers. They can feature master suite baths, workout and media rooms. Also, the home’swiring systems are networked.
• Warranty offered by builder
  In Florida builders are required to give buyers a 3 to 5 year warranty. The first line of defense is to buy from a reputable builder who will agree to stand behind the structure and its components.
• Energy efficiency
  In addition, Florida being the “Sunshine State” many homes are being built with solar panels that can turn back the electric meter. New appliances use less energy. Walls, ceilings, ​and floors are insulated. Dual pane windows retain more heat in winter and keep the home cooler in summer.
• Built to code
  Code regulations change all the time. Consumer safety issues are continually addressed in new construction and conform to building codes.
• Emotional factor of newness
  Let’s face it, there’s nothing like owning something that’s brand new and has never been used, whether that’s a car or a home. Also check out  5 Signs That You’ve Found The Right Home For You for some tips about your emotional mindset when buying a home.

Pros to Buying a Resale Home

• Older construction
  Older homes have stood for decades, some centuries, and weathered many storms. Some were built by hand by genuine craftsman with meticulous attention to detail.
• More land
  Years ago, when land was cheaper, builders built on larger lot sizes, leaving room to accommodate garages on alleys.
• Special architecture
  Craftsman bungalows originated in California in the 1890s, but now they’re ubiquitous across the U.S. Other popular styles are Victorians, Greek Revivals, Tudors or Colonials. Interesting architectural features are abundant in these homes such as arches, hand-carved decorative appointments, or stained-glass windows.
• Longer-term neighbors
  Due to some older homes are passed down through generations. Many neighbors know each other. This might be one thing you want to consider.
• Established neighborhood
  Zoning changes are unlikely to occur in older areas. Hooters restaurants don’t fare well in residential.

Every Case Is Different