Most homebuyers know that new homes generally are priced higher than comparable resale ones. But many find themselves asking if the higher price tag is worth it. Typically, if you are buying a home to-be-built, you choose all of the finishes, fixtures, systems, and appliances, and receive the new warranties that come with each. Furthermore, you benefit from the most current architecture and design trends, advanced home automation systems, and energy-efficient heating and cooling units. On average, new homes sell at approximately 17 percent higher than resale ones nation-wide. If you consider that a new-build will also need less maintenance and repairs in the early years, the higher price is worth it to many.
- According to the authors, it would not be surprising to most home owners that brand new homes are more costly than resale homes.
- Some of the benefits a buyer of a brand new home gets are energy-efficient home appliances, and the ability to choose the finishes, fixtures and décor, amongst others.
- Historically, newly built homes have been found to cost 17% more than resale homes, but recently the premium on newly built homes have been fluctuating.
“The home automation component is especially desirable because it can be difficult and costly to add this type of system to an existing home.”