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Buying A New Home Vs Used Home PORTABLE

Many buyers wonder whether it is cheaper to build or buy a house. Some buyers assume that a newly-built home is more expensive than an existing home, but the gap between the median sales price of new and existing homes narrowed in recent years. The national median sales price for an existing home in July 2021 was $359,900, according to the National Association of Realtors, while the median sales price of a new home that same month was $390,500, according to the Census Bureau. Typically, newly-built homes are about 15% more expensive than existing homes, according to Builder magazine.

buying a new home vs used home


Your home will likely be smarter than an older home. New homes often have locks, thermostats and other features that can be controlled with your smartphone. Many builders choose healthier materials, such as low-VOC paint and upgraded ventilation systems, for better indoor air quality.

You may have to wait to move. When making the build or buy decision, your timeline for moving is one of the most important factors when choosing. Most homes take at least four to six months to build, according to the Census Bureau, but 10% of homes built for sale in 2020 took 10 to 13 months or longer to complete. If you need to move more quickly, an existing home may be a better option, unless you can find a recently completed or nearly completed home from a builder.

Your lot may be bare for a while. When a new community is under construction, the area may not have much mature landscaping. Some builders include plants or grass with a new home, but others may leave the landscaping to you. Depending on the size of your lot, this could tip the cost of building a home vs. buying higher.

The location may not be ideal. Given the high cost of land in urban and close-in suburban areas in many markets, many new homes are built in more distant locations. This could mean a longer commute or less access to amenities you enjoy.

You may prefer the location. Deciding between building vs. buying a home depends in part on where you want to live. Most newly-built homes are in locations more distant from an urban core or inner suburb because those areas have less available land for new development. If you want to live closer to a city or to amenities, such as coffee shops, stores and restaurants, you may want to choose an existing home.

You may be able to add value with upgrades. Some homebuyers prefer a fixer-upper so they can personalize it and possibly increase its potential resale value with cosmetic upgrades. A fixer-upper loan can be used to finance your purchase and renovate the house before you move. Some people prefer an existing home because it has history and character from previous residents.

You may need to budget for some big repairs. Depending on the age and condition of the home, you could have to pay for a new heating and air conditioning system or a roof, which could cost thousands. Your plumbing and electrical systems could need repairs or you may need to replace appliances within a few years. Most appliances have a life span of about a decade, although some last longer, according to Consumer Reports.

Your utility bills could be higher. An existing home may have less energy-efficient appliances, an older heating and air conditioning system, less insulation and lower-performing windows. That means your home can use or lose extra energy, which will increase your utility bills and possibly make it cheaper to build vs. buy a home.

Additionally, new home buyers often get the opportunity to fine-tune the home they buy by selecting certain features, colors, styles, etc., and even financing any add-ons into the mortgage loan amount.

When you buy new, you have a lot of community options to choose from. You can be very selective when exploring mobile home parks, as long as they have available space for your home. By eliminating focus on the home itself, you can pick a park with the ideal amenities for your lifestyle, including pools, nature and social activities.

In theory, a fresh-from-the-factory home will have newer, nicer finishes that are less likely to break or need attention. It should also have more eco-friendly features, such as energy-efficient windows and doors, insulated skirting, a geothermal heat pump, or solar power, for instance. is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.

A new home is more than just bricks and mortar. It's an essential part of who you are. At Taylor Morrison, we create the most exciting new homes imaginable, set them in vibrant neighborhoods and invite people to invest their dreams in them.

For most home buyers, the purchase of real estate is one of the largest financial transactions they will make. Buyers purchase a home not only for the desire to own a home of their own, but also because of changes in jobs, family situations, and the need for a smaller or larger living area. This annual survey conducted by the NATIONAL ASSOCIATION OF REALTORS of recent home buyers.

We do lots of research, listen to what our customers want and respond by building better homes for a better future. Whether you're a first-time buyer just starting out or a growing family who needs more space, you can enjoy modern floor plans with large primary bedrooms, great rooms that naturally bring everyone together and indoor/outdoor living areas that maximize your space. Extra storage and generous kitchen countertops also top the list of homebuyer favorites, so we made sure that's included!

Eco-friendly initiatives can make an impactful difference for you, and the planet. Sustainable homebuilding has always been a priority for us, and KB was the first builder to make every new home ENERGYSTAR certified, which means you enjoy greater comfort and savings.

Fun fact. ENERGY STAR certified homes achieve a 20% energy-efficiency improvement on average, when compared to homes built to current code and even more when compared to used homes built 10 or 20 years ago. Additionally, just one in 10 homes built in the U.S. over the past few years meet this rigorous standard.

We want you to know that your dream of homeownership is also important to us, so we build new homes with the living space you need at surprisingly affordable prices in desirable locations across the country.

KB Home is a company built on relationships and we're here for you every step of the way. From sales and financing to design and construction, our team is 100% committed to your happiness and satisfaction, and we look forward to building your new home, together.

Buying new construction often means buying a lifestyle, so you get an entire community to go along with your new home. At The Grove Frisco, all residents enjoy amenities like Orchard House, home to two unique swimming pools, a hand-crafted playground designed especially for our kids, an event lawn and pavilion, a state-of-the-art fitness center and meeting rooms. The Grove Frisco also offers miles of trails, a dog park, and a vision for more neighborhood parks to come. Our young residents get one of the best educations available anywhere in the highly regarded Frisco Independent School District. Fun resident events throughout the year are another big part of living at The Grove Frisco.

Existing construction is often surrounded by mature trees that shade the home in summer, protect against wind in winter, and block out traffic noises at bedtime. Mature trees may be salvaged at new building sites but often the landscaping takes years to grow into itself.

Our take: In the Metroplex, it typically takes about four months to build a new home from scratch. Another advantage of looking for a new home in a major master-planned community like The Grove Frisco is that you can find many homes that are already well underway, but still offer the chance to make your own selections for flooring, cabinets, lighting and other finishes. In some cases, you still might be able to customize the floor plan, such as turning a dining room into a study with French doors, or adding a downstairs guest bedroom suite.

Ready to find the new home of your dreams? Use our Homefinder to see quick move-in homes priced from the high $400,000s to over $1 million, and start enjoying our active, neighborly lifestyle right away.

As with any purchase in life, it can be difficult to choose between purchasing a new or pre-owned home as there are advantages to either option. Would you prefer to live in a modern home where everything is new and shiny? Or do you have a weak spot for a charming old home with character in a historical neighborhood?

Newly designed homes will be built in accordance with the latest disaster preventive measures and with top of the line security. Typical disaster prevention measures will be soundproof and fireproof walls as well as a frame that can handle even the strongest earthquakes. In terms of security, modern condominiums will have 2 to 4 levels of security, requiring a key to enter the building, call the elevator, select a floor, and enter a unit. As for landed houses, many developers will include or offer the option to have motion sensor activated lights for outside and alarms should the movement be detected inside or the windows being tampered with. 041b061a72


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