Why buying a new home is better and cheaper in the long run
When you buy a used vehicle—or “pre-owned” as sellers like to say—you know you’ll pay less for purchasing it but the choice comes with risks. A car isn’t the same commitment as a home. Here’s why buying a new home is better and cheaper in the long run than buying a resale home.
If the walls could talk…
Do you watch the home makeover shows? How many times have you seen them uncover a hidden disaster? Then you may already be asking yourself, why buying a new home is better. When you buy a resale home, you can’t be entirely certain of what lurks under, over, and inside the less visible spaces. By building your home, you know it’s constructed to current standards—including energy efficiency and indoor air quality. Choose a reputable builder and you’re assured of the craftsmanship and quality of materials. With a resale home, you have to rely on the third-party building inspection that is still limited to what is visible. And these days, some over-eager buyers are even skipping that step!
When you buy a used car, you can look under the hood. A mechanic can give it a thorough inspection and alert you to possible repairs. They might be able to let you know if the car has been taken care of, according to manufacturer’s recommendations. You can’t lift the hood of your home, so you’d better trust that it has been well made AND well maintained.
What’s the total cost of ownership?
What is it actually costing you to buy and own your home? Above the purchase price, the total cost of ownership is something you should consider before deciding which home to buy. Add in the repairs and updates you’ll be paying for to get the home to where you want it to be. That could mean a new roof, flooring, air conditioning, furnace, plumbing, windows, and exterior paint. You might need a substantial remodel of the kitchen or bathrooms, which can run deep into a five-figure investment.
Conversely, buying a new home comes with peace of mind. Not only is everything brand new, but it’s also covered by the builder warranty. You can move in without any worries about costly surprises. If something isn’t right, call the builder and submit a warranty claim. (Tip: Before you choose the builder, understand what’s covered in the builder warranty and for how long.)
Buying a new home is better, especially when you measure energy savings.
A new home versus a resale is built to a higher standard for energy efficiency. The benefits of a home that is certified as energy-efficient includes savings on your energy bills, as much as 20%. Be sure to factor those savings into your total cost of ownership.
Features like water-saving plumbing fixtures, tankless water heater, radiant barrier roof sheathing, and low-E thermal windows keep you comfortable in your home and conserve energy.Not to mention resale value.
When you go to resell your resale home, it likely won’t have as much value as a new home. Age matters. Compare a newer home with an older one with comparable features, size, and location. Let’s say the newer one is six years old and the other is 15. Would you want the one that is updated with more current construction materials and methods, and with a roof or HVAC that isn’t in need of replacement in the next few years?
And who doesn’t want “brand new”?
Buying new comes with the advantage of new ideas. Homes built ten years ago or more in most cases, don’t reflect the current need for a dedicated home office, a kitchen that must do more than give you a workspace, and a safe place for your home deliveries. The pandemic changed home design, so homes built before that time just aren’t up-to-date with current trends.
New Home Inc., for example, includes options like a “messy kitchen” in all of our floor plans. This space is a separate space from the kitchen and the pantry. It allows for more storage and organization. Use it like a service kitchen or butler’s pantry, even install a sink and mini-fridge. Set up a beverage station in your messy kitchen to reduce the traffic coming through your kitchen during busy times.
Our Smart Door Delivery Center is another plus. This closed-in, locked space allows deliveries to be placed in a protected space, away from the elements and porch pirates.
Here’s one more thing to consider when you’re deciding between a new home versus resale: You’ll be the first one to occupy the home. There are no signs of the previous occupants, no marks on the walls, nicks in the trim, or scratches on the countertops. Inhale the freshness of the new home smell.
If your search has you looking for new homes for sale in Raleigh, check out New Home Inc. We’re building communities of townhomes and single-family homes in Raleigh and the surrounding Raleigh suburbs, including Apex, Fuquay-Varina, and Selma. The new home buying process is easy with NHI! Our new homes are designed and built to be “Future-Proof”, with the features that fit the way you want to live. Look at our available homes, take a virtual tour through our models, and then contact New Home Inc. to find the home that fits you perfectly!