New Construction or Resale? The Pros and Cons

This blog was contributed by Sarah Mazzone with HomeSmart Lifestyles in Queen Creek, AZ. Want to become a contributor? Email support@setschedule.com. If you are a buyer looking for a home you can choose between new construction or resale. The benefits to going with a new home are that everything is brand new and, if purchased while it's still in the construction stages, you can design the home to your liking and pick the materials you'd like to have in it, including the appliances. Everything is done for you and new homes today are designed to meet the needs and wants of today's styles. New homes tend to be more energy efficient and are equipped with some of the latest technology, as well. The downside to buying a new home is that it costs more. Upgrades that you select can really add up in the end. With new homes, the community may not yet be complete, which means that there could be several months of construction going on all around you. The neighborhood may be pretty bare and not as beautiful as some of the other surrounding neighborhoods. New homes also tend to be built on smaller lots leaving you with a small backyard and forcing you to be very close to your neighbor. Sometimes developments can be referred to as cookie cutter housing because they all look the same and are stacked right next to each other. The benefits of going with an older home are that you can do some remodeling to fit your needs and desires. Also, you may be able to negotiate a really good price on a resale because the seller may have quite a bit of equity in the home and doesn't mind accepting an offer under asking price. Resale homes are usually in a neighborhood that's been completed for a while, the landscaping is mature, there are lots of trees, playgrounds, and other qualities that make the community beautiful. The downside to resale is that everything is a bit older and at some point, you will have to put some money into it to fix appliances, roof, paint, etc. Some older homes have layouts that don't fit our needs for today's market and may deter many buyers.