Wondering whether it's cheaper to build or buy a house?  This is a question most homebuyers face when they get ready to purchase a home.  Some assume a newly-built home is more expensive than a pre-existing home; however, the gap between the median sales price of the two has narrowed in recent years.

According to LendingTree.com, "If you’re considering both options, it’s important to learn the pros and cons of building a house or buying a previously owned home."  Below are the pros and cons to purchasing new vs. pre-existing.

NEW HOME PROS

  • Modern floor plan
  • Lower maintenance costs
  • Personalization
  • Warranties
  • Smart features

NEW HOME CONS

  • Waiting to move
  • Not as much character in the community at first
  • Location not ideal
  • HOA Fees

PRE-EXISTING HOME PROS

  • Established neighborhood
  • Preferrable location
  • Mature trees and plants
  • Move more quickly
  • Add value with upgrades

PRE-EXISTING HOME PROS

  • Outdated floor plan
  • Budget for bigger repairs
  • Less personalization
  • Higher utility bills

 

Holly Fairburn

Leading Edge Real Estate Group - Huntsville


Office:
924 Merchants Walk, Suite B , Huntsville, AL, 35801
www.LeadingEdgeUnited.com
(256) 489-2602
Agent:
hollyrfairburn@gmail.com
(256) 457-1344
(256) 489-2602
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This content last updated on Wednesday, November 20, 2024 11:48 PM from ValleyMLS.

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