You are viewing the printer-friendly version of Purchasing a Brand New Home or an Existing HomePurchasing a Brand New Home or an Existing HomeFactors to consider are costs, conveniences, extras, neighborhood and resale value when deciding on a new or existing home. Here are some pros and cons for each.Existing Home Pros - You may get more quality workmanship for your dollar in a house that was built when labor and materials were not as expensive. Appliances and window treatments are usually included. Updated kitchens and bathrooms may feature valuable extras. Usually has mature trees and landscaping. Often has unique architectural elements. Usually located in established neighborhoods. Relationship between the price of homes for sale and overall care and attitude of the neighborhood in general. Existing Home Cons - Usually more costly to heat and cool. Past renovations may not be up to current building codes. Building materials may be harder to match or replace. May need expensive repairs and renovations. Newly Constructed Home Pros - Less maintenance than an older home. You can get customized options and upgrades. Built to current safety codes. More efficient use of space. Modern amenities. More energy efficient design, materials and improved insulation. May be wired for today's technology and security. You have more input in decorating decisions. They have more recreational facilities. New materials are safer. Construction and appliance warranties are often still apply. Newly Contrustucted Home Cons - Construction delays are common. New homes cost more than existing homes. Resale may be difficult before construction is completed in the entire subdivision. Dirt, mud, and noise may be a problem. You may be charged higher taxes. Landscaping is costly. Unwanted developments may continue to be built. New homes are often on the outskirts of a town or city which means a longer commute. Addition costs, there could be mandatory fees for associations and other assessments. aa |