You’re in the market for a new home, and you aren’t sure what to choose. For many buyers, a resale home looks attractive. It may seem less expensive than a new home up front–but the truth is, purchasing a resale home often has many hidden costs that buyers fail to consider. Have you thought about the real cost of buying a resale home? Carefully consider how these factors can impact your costs when you buy a new home.
When you buy a resale home, you’re also buying a roof that has been sitting there for years, out in the elements–and your roof isn’t going to last forever. Replacing your roof can cost between $4,500 and $10,000 or more, depending on the type of material used for your roof and the size of your home. This is a significant replacement cost, and one that you need to factor in–especially if you’ll need to replace your roof soon after buying your home.
When you purchase new construction, on the other hand, you’ll get a brand new roof that hasn’t yet been exposed excessively to the elements. As a result, it’s likely to last much longer than a roof on a resale home. That means you’ll be able to enjoy your home longer, without having to worry about expensive roof replacement.
When you purchase a new construction home, you can design things to your liking from the beginning. Some buyers, on the other hand, choose to look for a resale home that comes “close enough” to fitting their needs. Unfortunately, this often leads to expensive renovations shortly after purchasing your home. Whether you need to add on a garage or you need to finish an unfinished basement before you move in, those costs can pile up fast, significantly adding to the cost of your home.
Windows and Insulation
In an old home, you may quickly discover that the house lacks insulation. If you choose to leave it–including leaving your existing windows in place–you may find yourself paying significantly more in energy costs as you try to cool down your home during the hot South Florida summers. Replacing your windows, on the other hand, can run as much as $600 for a vinyl replacement window or $1000 for a wooden replacement window. Adding insulation to your home can add another $500 to the effort to reduce your energy costs and keep your home cooler. With a new construction home, you’ll get new windows and fantastic insulation from the beginning–and that means fewer things that you have to worry about.
The kitchen is the heart of your home: a place where you, your friends, and your family members will spend a large percentage of your time. If you move into a resale home with older appliances, however, simply cooking a meal can quickly become frustrating. Before purchasing a resale home, take a look at the appliances in the kitchen. How old is the stove? What about the fridge: will it need to be replaced soon? If you choose a resale home, take the potential cost of replacing appliances into consideration. Keep in mind that these appliances have been used in the past and that you don’t have any idea how they were used or how well they were functioning when the previous residents left the home.
In a new construction home, you’ll get brand new appliances to go with the rest of your brand new home. If you’re considering upgrades to your appliances, you can often put them in and pay the additional price before construction is complete. You can start enjoying the benefits of those brand new appliances sooner!
Energy efficiency isn’t just important to the environment, though many new home buyers are seriously considering the advantages of going green in their homes. It’s not just the appliances, the windows, or the insulation. You may also want to take a look at things like your hot water heater, the type of material used for your roof, and your HVAC unit. Even the types of lights installed throughout your home can make a big difference in your energy bill in the long run.
New construction homes in South Florida often come with energy-efficient upgrades already installed. In your new home, not only will you not have to worry about upgrading to those more efficient appliances, you’ll start experiencing the benefits in your first energy bill, driving your energy bills down and allowing you to better manage your budget and your energy use.
Many of today’s South Florida residents are upgrading to smart homes or relying on smart technology to make their lives easier. In new construction, adding those features–whether you want a keyless door lock or a smart thermostat that will make it easier to control the temperature in your home from wherever you are–is a snap: just add it to the rest of your plans. In an older resale home, on the other hand, those upgrades can be more expensive and more time-consuming.
Your Air Conditioner
In South Florida, your air conditioner is of paramount importance. The last thing you want is for your HVAC unit to stop working in the middle of a brutal summer! Unfortunately, in a resale home, you don’t know how the HVAC unit is functioning or how well it has been serviced over time. Resale homes may include older units that haven’t been maintained properly, which can increase the odds that they will stop working–often when you need them most. In new construction homes, on the other hand, you’ll get a brand new HVAC unit that will be more likely to see you through may years in your new home.
Are you ready to buy a home in South Florida? Still on the fence about the type of home that’s right for you? If you still need more information, check out our post, “10 Reasons to Buy New Construction.”
If you have more questions, contact us today to learn how a new construction home can help make your dreams come true.