New vs Old Home

Why New Costs Less Than Resale?

When shopping for a new home, you may be tempted to choose resale over new to save some money upfront. A lower price tag means a lower down payment and a lower mortgage payment, as well as savings now that you can use later to renovate the home to be exactly what you want - right?
In many respects, newly constructed homes are a smarter investment than existing homes. You can find a home that is designed for modern life, has all new appliances and interiors, and still meets your price point.
When you buy new, you ensure your home is as energy-efficient as possible (no drafty windows or dated, energy-sucking HVAC units), plus you can be certain all your appliances are new and won't need repairs or replacing. Add in builder incentives and warranties, and you are likely saving money when you buy new.
New homes do, of course, come with small annual maintenance costs - annual HVAC maintenance, semi-annual landscaping, rain gutter cleaning. However, none of these costs compares to repairing or, worse, completely replacing items in and around your home, such as an old hot water tank or a yard that needs a total overhaul. Over time, you'll not only recoup the additional upfront costs of a brand-new home in energy savings, but also be able spend your money on the things most important to you, rather than on fixing your home.
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