New Home vs. Resale: Which is Right for You?

Do you want a home that you have helped design and that offers the latest in energy efficiency and design? Or a previously owned home that may need fix-ups, paint work and walls moved around to create the types of open spaces for today’s style of living?

These are baseline questions that confront many home shoppers early in the process. Your own answers are likely to depend on your lifestyle preferences, financing needs and priorities you put on features, like high energy efficiency, functional arrangements of interior living spaces, and your desire, budget and aptitude when it comes to repairs and capital improvements.

But, here is a quick comparison to consider when comparing new versus resale homes:

Replacement Costs

With a new home everything is new, including costly components such as the furnace, water heater, air conditioning unit, kitchen appliances, roof, doors, windows and more. In a new home, most of these components come with a warranty, sometimes for up to 10 years. With a resale home, the equipment and structural features you buy have been in use for a while and may be close to needing replacement. There may or may not be warranties, but if there are they probably have significant limitations.

Consider some of these typical capital improvements that may be part of the true cost to you over the early years when purchasing an existing home:

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Source: Ken Harvey – NewHomeSource.com This article is for informational purposes only.
This is subject to change and is not guaranteed by Silverado Homes.