When looking for a new place to live, there are many questions that we need to answer in order to make the right decision for buying a New Home or Resale?. While a new home may suit some people, others may prefer a house that has already been lived in. When it comes down to it, do you want a hand in the design of your home? Or are you happy to just fix certain areas of a house that might be worn?
Ultimately, you will find that your lifestyle needs, priority of features, and your budget will play a huge role in your decision. While some people prefer to build their own features in a home, others may not have the budget to do so and will therefore have better luck in the market looking for a resale.
Buying a New Home or Resale Home?
Even if a property needs a little work, there are numerous reasons why you might choose this route including if you want to move into a specific neighborhood. Sometimes, new builds are rare in certain neighborhoods so you have no other option than a resale home. Otherwise, you may enjoy the challenge of taking an old property and working on it until it is up to your standards. Even after time and money, this may just be something you’re interested in.
On the flip side, there are some advantages to buying new too and one of the biggest can be the opportunity to save money in the long-term. As new home builds today are made to a different standard to years ago, they are more energy efficient which means that you should be saving money every month via your bills. Nowadays, the walls, roofs, doors, windows and appliances often come with energy certifications which is rare in a resale.
Of course, you can update an old home to reach these standards but the process will be costly and will also take time. Even at that point, you may not reach the point of a new home because there may be design flaws since energy efficiency wasn’t a priority back in the day.
Finally, it should also be noted that with a resale, you are very much stuck with what you’re given in terms of space and wiring. On the other hand, new builds can allow you to be in charge of what space you have and what lighting is allowed in each room. If you find a piece of land where you can talk to the construction company, you can have a hand in the design and choose everything to meet your needs. With new levels of wiring, you can have high-speed electronic devices, security systems, and communication equipment.
So there we have it, there are benefits to both options. Ultimately, it will come down to you, your needs, and your budget. While a new home is good for one person, a resale is better for someone else so be sure to analyse your situation before jumping forward to choose New Home or Resale!