Should I Buy New Construction or Resale in 2023?
When you’re beginning your new home search, there are bound to be several questions on your mind. First, you might consider where you want to live. If you’ve been looking in Coastal Georgia, you’re already off to a good start. Ernest Homes builds in some of the best areas around Savannah, Georgia where you’ll experience beautiful weather, friendly folks, tons of adventure, and so much more.
After narrowing down your location, you may consider whether you want to purchase a new construction home or a resale home. It’s a decision that will depend on a few factors including your budget, what kind of lifestyle you want, how quickly you need to move, and more. In Savannah, new construction homes are the way to go. Here, we’ve compared some aspects of purchasing new construction over resale homes.
New Construction Vs. Resale HomesThe Location Options
New Construction: New construction homes are built in a mix of new and established communities strategically placed in ideal locations near schools, shopping, dining, and entertainment. There are many ways to connect with friendly neighbors, even ones who may also be new to the area. Get to know your neighbors by visiting one of the amenities (another plus for new construction) at the community pool, fitness center, or an event at the clubhouse.
Resale Home: Most resale homes will be in established neighborhoods, which can allow for some genuine connections between neighbors. The only downside is you will have to find a way to fit in with an already-established group of friends. There’s also no guarantee of having modern amenities or planned events if any at all where you can meet new neighbors.
The Overall Cost
New Construction: Budget will come into play with both types of homes. New construction homes in Savannah will include the base price, lot premium, and optional upgrades. They can be more expensive than resale homes but offer cost-effective benefits. For instance, all of the systems are brand new, including the HVAC system, appliances, roof, and foundation. This means you won’t have to worry about costly repairs and can typically find cheaper home insurance. The energy-efficient features found in a new home will also save in utility costs. Another cost-saving benefit is that many builders partner with credible lenders with great financing options. Builders also offer perks to help with paying points, closing costs, and/or buying down certain rates for you.
Resale Home: It is certainly possible to find a resale home in the same size and style that costs less upfront. Because of the lower price point, you may be able to take advantage of saving on property taxes in an older home. However, an older home may cost more in the long run when you realize they are almost always priced lower due to needing several repairs. It is important to consider the immediate and long-term costs associated with buying a resale home. Additionally, major repairs like needing a roof will not be favorable when shopping for home insurance.
The Time Frame
New Construction: If you’re interested in building your new home from the ground up, the timeframe will range. You’ll have plenty of time to sell your current home or save for any new furniture. It’s also exciting to be a part of the process and see the progress of your home from its inception. The great news is you don’t have to wait for a new construction home to be built. Quick move-in or inventory homes have shorter wait times since they are either on their way to being built or are ready for sale. You’ll not only get a brand new, never-lived-in home but be able to move in sooner. Either way, there is an option that will fit with your timeframe.
Resale Home: When searching for a new construction home vs. a resale home, the time frame is important. You can surely find several resale homes right away, but it will take time to narrow down the right one. For a resale home, you might have to go through a variety of options to ensure the home matches your needs.
There Are More Benefits to Buying NewUnless you are willing to pay extra for renovations in a resale home, a new home is your best bet when it comes to meeting the needs of how you live today. It’s designed with a modern, open floor plan that you can personalize to suit your lifestyle, as well as large kitchens and living rooms, and flex spaces that can be used for whatever you need. It is also worth noting that a new home is equipped with energy-efficient and smart home features to make every day easier. You’ll have a much more comfortable home with updated windows, an updated thermostat, and a new HVAC system that helps regulate your home's temperature. Plus, you will be saving big on energy costs.
Buying a home is a big purchase worth protecting. Luckily, with a new home, you will have the guarantee of a builder's warranty. A new construction home warranty can last anywhere from one to ten years. It can be used for materials and workmanship, plumbing and electrical systems, and even costly structural repairs. It can even help when it comes to securing a mortgage and help lower the cost of home insurance. Not only will you have peace of mind that your purchase is protected, but you will also save money on costly repairs.
A new home is also a better investment in the long run. At Ernest Homes, we’ve always believed that building a home is an investment in your family’s lifestyle and should be looked at as a long-term financial and lifestyle decision. Instead, we want to build the best homes our clients can afford. We evaluate both cost and value in the construction of our homes. From their distinctive architecture to their unparalleled craftsmanship to their attention to detail, Ernest homes create an immediate and unparalleled sense of value.
Although there may be short-term fluctuations in a home’s value, your home’s value is most likely going to increase when looked at as a long-term investment of five or more years. So if you are interested in building or buying your “forever” home, an Ernest home is a great investment, financially and emotionally.
Contact Ernest Homes for New Construction Homes in Savannah, GeorgiaBuying a new construction home comes with so many positive benefits that a resale home just can’t match. When looking for a home with cost savings, energy efficiency, modern floor plans, and warranties situated in prime locations, look no further than a new home. Better yet, choose an Ernest home in Savannah and surrounding areas. For over 30 years, we’ve helped many families find their perfect home where they can enjoy these benefits and more. We look forward to helping you too! Take a moment to browse our wide selection of floor plans and let us know when you find the one you love or if you have any questions.
