Are you hesitant to buy a home because you’re worried about the upkeep? Let’s dive into the pros and cons of newly built homes versus existing homes (those previously lived in by another owner) to help you make an informed decision.
Newly Built Homes: Less Upfront Maintenance
If you’re worried about maintenance costs, a newly built home might be the way to go. Here’s why:
- Brand New Everything: Since everything in a new home is brand new, there’s no wear and tear. This means fewer repairs are needed in the first few years. According to LendingTree, new systems, appliances, roofs, and foundations are less likely to need repairs early on.
- Builder Warranties: Many builders offer warranties that cover major systems like plumbing, electrical, and HVAC for one to two years. If something goes wrong, you simply contact the builder or their warranty company.
Existing Homes: Timeless Charm with Added Benefits
Existing homes have their own unique advantages:
- Character and Charm: Older homes often have distinctive features and a warm, homey feel that’s hard to replicate in new construction.
- Established Communities: Existing homes usually come with mature landscaping and a well-established sense of community, making the neighborhood feel more inviting.
- Home Warranties: You can still get a home warranty for an existing home. Sometimes, your real estate agent can negotiate with the seller to include one in the sale. If not, you can always purchase one yourself. A home warranty can provide peace of mind, covering repairs on major systems and appliances.
Deciding Between New and Existing Homes
While new homes offer the benefit of less upfront maintenance, existing homes provide character, charm, and a sense of community. It’s all about what matters most to you. Consider your priorities and lifestyle needs when making your decision.
Final Thoughts
Whether you choose a newly built or an existing home, a home warranty can help ease your concerns about maintenance. Talk to your real estate professional to weigh your options and determine what’s best for you.
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