Back HomeNew build vs. lived-in home: Weighing your home buying options
Is new always better? Or is it more practical to purchase an existing home? Ultimately, the decision when choosing between a new-build or a lived-in home is a personal one. It’s essential to weigh the pros and cons of each option based on your individual needs, preferences, and budget.
Here, we’ll explore the key advantages and drawbacks of new-build and lived-in homes, plus the factors to consider when making your choice.
BUYING A NEWLY BUILT HOME
Pros of buying a new build
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Room for customization
Being able to build a home from your own vision is truly exciting. Builders are able to accommodate certain customizations if you purchase early enough, assuring a way to create a space that answers your personal style and needs.
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Modern amenities and features
The convenience of modern amenities and features can be typically found in new homes. These include energy-efficient appliances, smart home technology, and modern, sustainable finishes.
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Warranty protection
Many new homes come with a builder’s warranty, providing a sense of security in case of defects or issues crop up. Builders’ warranties can last from 6 months to a year.
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Lower maintenance costs
You can expect fewer maintenance costs and repairs when purchasing a new home compared to older homes, saving you time and money in the long run. You’ll most likely have lower utility bills as well since new homes are typically more energy efficient and adhere to updated building codes.
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Increased property value
New homes often appreciate in value more quickly than older homes, making them a solid investment.
Cons of buying a new build
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A higher price tag
One of the major drawbacks of purchasing a newly built home is that it often comes with a heftier price tag.
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Potential delays in construction
There might be construction delays at times due to various factors, such as weather conditions or material shortages. This can lead to added stress and inconvenience for buyers.
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Lack of character and history
If you’re the type who appreciates the unique charm and personality of older homes, then you might find new builds a little lackluster. Older homes often have distinctive architectural features, historical significance, and a sense of character that can be appealing to many buyers.
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Less centralized location
New developments are usually located farther from the city or the town center. So this might mean longer commutes for those working in the city and fewer community amenities in the area.
BUYING A LIVED-IN HOME
Pros of buying a previously owned home
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Lower upfront costs
Generally, lived-in homes are more affordable than new builds, making them a more accessible option for many buyers.
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Established community
Lived-in homes are usually part of an established community, offering a sense of belonging, familiarity, and often, a more central location.
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Unique character and charm
Older, lived-in homes often possess distinctive architectural features, craftsmanship, and details that can lend a unique charm and personality to the property. This can be appealing for those seeking a home with character and history.
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Immediate occupancy
Unlike new construction, which may involve lengthy build times, a previously owned home allows for more immediate occupancy, enabling buyers to move in and start settling down right away.
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Mature landscaping
Existing homes usually come with well-established landscaping, including mature trees, shrubs, and gardens providing a more lush outdoor space.
Cons of buying a previously owned home
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Limited options for customization
While you can make changes to a lived-in home, the options for customization may be more limited _ or more involved – compared to a new-build.
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Costlier maintenance and repairs
Older homes may require more maintenance and repairs, such as updating systems, replacing appliances, or addressing potential structural issues. This can lead to additional costs and inconvenience upon moving in.
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Higher energy consumption
Newer homes often have lower utility bills due to improved building materials and insulation. Older homes, on the other hand, may incur significantly higher energy costs, especially for heating and cooling.
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Smaller floor plan and outdated design
Older homes often have outdated floor plans and design features. Small closets, limited natural light, and fixed layouts can create a cramped and outdated feel.
FACTORS TO CONSIDER BEFORE YOU BUY A HOME
Now that you’re aware of the pros and cons for both new construction and previously owned homes, here are some of the key factors to consider before deciding on your purchase:
- Budget. Determine your budget and compare the costs of new builds and existing homes in your desired area. Consider factors such as the purchase price, potential closing costs, and ongoing expenses like property taxes, insurance, and maintenance.
- Location.Consider the location of the home, including proximity to schools, amenities, and transportation.
- Lifestyle. Think about your lifestyle and preferences, whether you prefer a modern home with the latest amenities or a home with character. Consider your family size, commuting needs, and other factors that will influence your day-to-day life.
- Timeframe. If you need to move quickly, a previously owned home may be a better option as they are likelier to be move-in ready. However, if you are flexible with your timeline, new construction can be something to consider.
- Maintenance. Take into account your willingness and ability to handle maintenance tasks, especially if you choose an older home. Factor in the potential costs of repairs, updates, and ongoing upkeep.
Whether you choose a new build or a classic charmer, you can find an array of homes for sale in College Station, TX to meet your unique preferences. Reach out to the experts at Berkshire Hathaway HomeServices Caliber Realty to help you in your search. Call 979.694.8844 or send them an email now.
