Buying a New Home vs. Resale: What You Need to Consider
We know that deciding to buy a home is a big life decision, but once you take that leap, your next decision can be just as important: do you buy a new home or a resale home? Before you get too far exploring your options, keep in mind that there are many perks to buying a new home—such as fewer repairs and the latest building standards—that can impact your whole homeownership experience. Learn more about the benefits of buying a new home vs. resale as you get ready to kick off this next chapter.
Benefits of Buying a New Home: All You Need to Know
Imagine you’ve just started on your journey to homeownership. You’ve put aside any reservations, and have now begun to dream about what your home could be like: a spacious kitchen for all your cooking concoctions, an open floor plan for the kids to run around in, an outdoor space for all the backyard barbeques you’ve always wanted to host. And as you research locations and start your new home search, you realize that these dreams are not so far off—with the advice from friends and the support and guidance from a trusted New Home Advisor, you find and purchase the home that’s more than you could have ever imagined.
But the journey doesn’t end there—one of the benefits of buying new is the opportunity for personalization, and now’s the time when you can choose options such as floor plans, home features, and designer selections. You’ll also be a part of the building progress along the way and watch your dream come to life, so that when it’s finally time to move in, you already feel at home.
What’s more, when you buy new, you often get a new home warranty to cover any maintenance issues that may come up. Shea offers a 1-5-11 warranty program where we check in one month, five months, and 11 months after your closing date, to make sure everything is working well in your new home.
Beyond the continual support from a dedicated team, buying new also means you get the latest and greatest features, appliances, designs, and materials. From the floorboards to the fixtures, everything is new, giving you peace of mind in the safety, efficiency, and quality of your home.
Ready to find and fall in love with the new home of your dreams? Before you do, NerdWallet says to make sure you have an understanding of what you can afford and how much you can put down, to avoid potential hiccups along the way. Or, if you’re selling your current home, you might also want to look into when is a good time to buy—check out the reasons why Zillow says fall is the best season.
What to Consider If and When You Want to Buy a Resale Home
On the other hand, when you’re buying a resale home, the journey might look a little different. You still have your list of wants and needs—a kitchen-centric layout, a large master bathroom—but you don’t have the same personalization opportunities to fine-tune these features. With a resale home, what you see is what you get.
However, for those who need to relocate right away, buying a resale instead of a new build often means you can move in faster because you don’t have to wait for construction. Also, a resale can cost less than a new home, which might make it the more attractive option depending on your budget restrictions. Keep in mind, though, that while the upfront costs might be less, there is a greater likelihood for a resale to need repairs and renovations down the line, so maintenance expenses should be taken into account.
Some of this renovation work might be to update certain materials or features of your home—because you’re buying resale, the design and build are not the most up to date, and there may be aspects you want to change for it to really feel like home.
These are just some of the differences between buying a new home vs. resale—read on for a more detailed side-by-side look.
The Difference Between Buying a New Home and Buying a Resale Home
See how new homes vs. resale homes compare as you consider your options for buying a home.
How to Find the “Right” New Home for You
Embarking on the road to homeownership can be an exciting experience, and with Shea, you’re never alone in the journey. With our Find Your Home search, you can look for the perfect home by location, type, features, etc., and in our Resource Guide, you’ll find more homebuying tools, such as:
The Homebuying Experience—expert guides and checklists designed to help the first-time buyer through the new home experience.
Securing a Mortgage—important information for understanding mortgages and how to find the right home loan for you.
Homebuying Glossary—a handy list of all the terms you need to know to navigate the homebuying process with confidence.
Working with a Partner to Put You in Your New Home
At Shea, we know how important it is to find a home that fits your life, and are committed to supporting you every step of the way. Contact us if you’d like to chat with a New Home Advisor, or sign up below to get more new home content sent straight to your inbox. Already know what you’re looking for? Start your search today for the home of your dreams.