Which Should You Buy, New Build or Resale?
Some factors to help you decide between buying a new build or resale home.
Should you buy a new build or resale home in today’s market? We highly recommend that you look at both of them, but there are different things you should consider for each. If you work with an agent who, like me, works with new builds frequently, they can help you look at both at the same time.
If you asked us this question in January or March, I would’ve recommended newly built homes to make sure that you weren’t overpaying. However, there is more inventory and less competition in the market now, so resale homes are a solid choice again.
Ask yourself what type of person you are. Do you need a home now, or are you willing to rent for a while? If you’re moving in from out of state and you want a home now, you should probably look at existing homes. But if you’re willing to rent for a year, then you should consider new builds.
"It comes down to your timeframe and how picky you are about the details."
If you’re a picky person, new builds are probably the best choice for you. Most resale homes on the market need a bit of work. If you’re picky, you might end up remodeling the whole house, which is fine if you have the money to do so. With a new build, you’d be able to pick the details you want from the ground up. However, the base price of new builds will be higher. I know I’m a picky person. I bought an existing home, remodeled the whole house, and ended up buying a new build later anyway.
If you want a pool, it would probably be easier to go with an existing home. Some builders work with pool builders, but you’d want to ask if they can build the pool while the home is being built or if it’d have to be built after.
It comes down to your timeframe and how picky you are about the details. If you’re looking to sell your home and get into either a new build or resale, both are possible; they just require some strategy and a solid timeline. If you have any questions, give us a call at 602-525-5502. We’d love to help.