It’s a question you have probably asked yourself in your home-buying journey – is it better to buy an older home and renovate it, or build a new home? Maybe you have looked at a few used homes already and saw the costs of updates stacking up. We looked into it so you wouldn’t have to.
Buying a home is one of the biggest purchases you will ever make. Existing homes can be great but even if your offer is accepted, there are likely to be unexpected repair bills you would never considered – even after inspections. And, more importantly, the need to pay these hidden costs can begin almost immediately after your purchase of an existing home.
According to the Zillow New Construction Consumer Housing Trend Report:
- 83% of existing homebuyers say they repaired or renovated their homes within the first year of ownership.
- 54% had to make a repair or renovation within the first 30 days of receiving the keys.
- 48% of buyers who purchased a brand new-home in the past two years still haven’t had to make a single repair or renovation.
Avoid unexpected repairs
Buyers purchasing new construction home save hundreds, even thousands of dollars, by avoiding repairs and renovations as everything in a newly built Pacesetter Home is brand-new. And, think of all the free time you will gain by not working on home repairs!
Older homes tend to be less energy efficient, so they’ll cost more to heat and cool. We found that buying new makes more financial sense than buy a home that needs serious remodeling. That’s not even taking into account unplanned upgrades or issues. Which leads us to…
Buy New Or Used: Repairs, Replacements and Upgrades
Here’s a big pro of buying a newly constructed home: No need for repairs or upgrades for the foreseeable future. That is because you have picked the layout that suits your needs and wants, the flooring that you like, the colors you love, and everything ahead of time. Your bathrooms and kitchen are in pristine condition.
The same can’t be said about older homes. You might need to think about the replacement of a water heater, HVAC system, or roof within the first couple years of living there. Or you might need to do some serious renovations early on to fit your family’s needs. If you are not a lover of home projects, and don’t want to deal with living in a construction site for an extended amount of time then you may want to seriously consider buy a new construction home.
Buy New or Used: Does Your Home Match Your Lifestyle?
Some renovations are doable, such as replacing your kitchen countertops or even adding a half bathroom. But others are not so easy, like adding on bedrooms or expanding a living room. When looking at homes, you need to make sure you pick one that fits your lifestyle. That means a house that can easily support you and your family (no matter the size).
A new home is the clear winner when it comes to finding a match for your lifestyle. You can design the perfect home to fit your family’s needs, whether it is an expansive kitchen for entertaining, enough bedrooms for everyone in the house, a backyard big enough for all the activities you love. No compromising needed. Building a new home is the less expensive long-term option. There should be no hidden costs or unexpected repairs for years after moving in. That means no move-in renovations, no “dealing with it” for a while, and no frustration trying to fit your lifestyle into an older home. We did our research on buying an older home and remodeling it, but honestly, building a new home is the better option to fit your needs, your budget, and your expectation.
Reach Out To Our New Home Concierge Team
With all the pros and cons of each home style, choosing the right floor plan to fit your lifestyle can sometimes be a struggle. Fortunately, when you build with Pacesetter Homes, our New Home Concierge Team and New Home Specialists are available to walk you through every decision. We’ll help you weigh all the pros and cons of each option and determine which route makes the most sense for your situation. If you are ready to begin your new home journey, contact Pacesetter Homes today.
