To buy new or not to buy new may be the big question on your mind.

Clearly, there are some substantial benefits to owning a newly constructed home, including features that boost energy efficiency and save on costs.

Conversely, buying a previously owned home may mean the new occupants will have to worry about making repairs, painting or even renovating to transform it into a home of their own.

As you begin your journey to homeownership, you’ll undoubtedly explore these questions depending on your preferences, budget, goals and lifestyle.

To provide some guidance, here’s a list of things to consider when buying new versus old, and the out-of-pocket expenses you might incur.

Preexisting infrastructure

From room layouts to how the home is wired, a pre-owned home will be sold as-is.

Some features may be outdated or not make much sense for your current needs.

With a new home, however, you and your family can be involved with the design process and enjoy sophisticated wiring to power your digital needs for work and play.

Replacement costs

A new home is just that – new parts and components that will not need replacing anytime soon.

When you purchase a preowned home, there may be a need to replace or repair costly components, such as its furnace, roof and windows to name a few.

The resale home will also have some wear and tear in appliances and structural features. Without a substantial warranty, one malfunction or breakdown can be very expensive.

Energy considerations

A pre-owned home may not be equipped with the latest green tech that can save you money on your utility bill and help save the planet.

Retrofitting a preexisting home with updated energy features is doable, but can be pricy. When it comes to making a home energy efficient, there’s a lot to think about.

Energy certificates for walls, roofs, doors, appliances and energy applications such as solar panels, are all likely needed to earn your home the golden standard of being “green.” Yet, with design limitations it will not pass the new-home test.

Before you think that buying a new home is out of reach, it’s important to consider the costs of upgrading and retrofitting a home.

A new home is move-in ready and abundantly equipped. You and your family deserve all the open space, green technology, equipment and safety features. It’s also likely to have greater resale value and special financing may be available for new construction.

If you’re ready to make the jump into the real estate market and make a splash with a new home purchase, we are here for you. Please let us know if you have any questions about this exciting opportunity to go new.

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