Almost every home-buyer has trouble early on deciding which is best--a New Home or an Existing Home. There are several pros and cons for buying a new home versus an existing home as described below:

New Homes

Pros

Never lived in--everything is brand new! Everything works--generally less maintenance Built to updated building and safety codes Customized options and upgrades Modern amenities and features More efficient and innovative use of space inside and out More energy-efficient design and materials, improved insulation May be wired for today’s technology and security New building materials are typically safer--no asbestos or lead paint Construction and appliance warranties usually apply Many builders can help you with special financing programs New communities usually offer more amenities and recreational facilities Community architectural controls and covenants protect property values Builders sometimes offer great incentives and price reductions to move inventory Newer homes are generally more desirable- therefore better for future resale New is often easier to rent- think about future uses when deciding

Cons

Construction delays may occur for to-be-built homes New homes can cost more than existing homes due to increasing materials & labor costs Resale may be difficult until construction is completed in the entire community Construction noise may be a problem until the entire community is completed May contain HOA fees not associated with some existing communities Community trees and shrubs are not as established

Existing Homes

Pros

May have better quality workmanship in a house built when labor and materials were less expensive Window treatments and fixtures are often included Mature trees and established landscaping Unique architectural elements Fixer-uppers can provide a great investment opportunity if done correctly If it has been renovated, bathrooms and kitchens may feature valuable extras

Cons

Generally less energy efficient, so more costly to heat and cool Past renovations may not meet today’s building codes Building materials may be harder to match or replace May need expensive repairs or renovations- plumbing, wiring, termites, foundation, etc. Does not come with warranty unless specified otherwise