Is Buying a New Home Better and Cheaper in the Long Run?

There’s always a risk when it comes to choosing used over new. Here are some reasons why buying a new home is better and cheaper in the long run than buying a resale home.

What if walls could talk?

Do you watch the home makeover shows? How many times have you seen them uncover a hidden disaster? When you buy a resale home, you can’t be entirely certain of what lurks under, over, and inside the less visible spaces. By building your home, you know it’s constructed to current standards—including energy efficiency and indoor air quality. Choose a reputable builder and you’re assured of the craftsmanship and quality of materials. With a resale home, you have to rely on a third-party building inspection that is still limited to what is visible. And these days, some over-eager buyers are even skipping that step!

When you buy a used car, you can look under the hood. A mechanic can give it a thorough inspection and alert you to possible repairs. They might be able to let you know if the car has been taken care of according to manufacturer’s recommendations. You can’t lift the hood of your home, so you’d better trust that it has been well made AND well maintained.

How much is the cost of ownership?

What is it actually costing you to buy and own your home? Above the purchase price, the total cost of ownership is something you should consider before deciding which home to buy. Add in the repairs and updates you’ll be paying for to get the home to where you want it to be. That could mean a new roof, flooring, air conditioning, furnace, plumbing, windows, and exterior paint. You might need a substantial remodel of the kitchen or bathrooms, which can run deep into a five-figure investment.

Conversely, buying a new home comes with peace of mind. Not only is everything brand new, but it’s also covered by the builder's warranty. You can move in without worrying about costly surprises. If something isn’t right, call the builder and submit a warranty claim. (Tip: Before you choose the builder, understand what’s covered in the builder warranty and for how long.)

Consider the energy savings.

A new home versus a resale is built to a higher standard for energy efficiency. The benefits of a home that is certified as energy-efficient include savings on your energy bills, as much as 20%.

Be sure to factor those savings into your total cost of ownership.

Features like water-saving plumbing fixtures, tankless water heaters, passive radon vents, and low-E thermal windows keep you comfortable in your home and conserve energy.

Did we mention resale value?

When you go to resell your resale home, it likely won’t have as much value as a new home. Age matters. Compare a newer home with an older one with comparable features, size, and location. Let’s say the newer one is six years old and the other is 15. Would you want the one that is updated with more current construction materials and methods and with a roof or HVAC that isn’t in need of replacement in the next few years?

And who doesn’t love “brand new”?

Buying new comes with the advantage of new ideas. Homes built ten years ago or more, in most cases, don’t reflect the current need for dedicated spaces. Across our communities in Tampa, Chicago, Madison, Milwaukee, and Phoenix, and coming soon to Dallas-Fort Worth, we have endless options for brand new homes with just that. Additional bedrooms, lofts with flex rooms, game rooms, family room extensions, morning rooms, 3-car garages, and more are either included or can be added to design the home that fits your lifestyle now and beyond.

Plus, the new home buying process is easy with William Ryan Homes! We’ll work with you along the way to personalize your home and make sure you know what you’re getting at each step. Be reassured that the construction of your new home will be on time, well-made, and all you! We’ll provide the same support even if you’re looking for a quick move-in home, which we have available throughout our communities. Either way, contact us. We’re here to help!