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Home » New Construction vs. Existing Home: Which is Right for You?

New Construction vs. Existing Home: Which is Right for You?

Buying a home is one of the biggest decisions you will make in life, so it’s important to go about it carefully. One of things you need to consider is whether to buy an existing home or a new construction. Each has its own benefits and downsides, and the choice will eventually boil down to your personal preference.

San Diego County offers a wide range of properties, including beautiful existing homes and stunning new builds in recent developments. Check out our listings and get in touch with us to learn more about your options. To guide you in choosing between a new construction and an existing home, compare the benefits that come with each.

New Construction

New construction can either be uniquely designed homes built entirely to your specifications, or customizable model homes developed by builders.

There are several pros to purchasing new construction over an existing home. From personal preferences to money-saving efficiencies, new construction has plenty to offer you and your family.

  • Getting your dream home – If you’re building on a vacant lot, you can have the home that’s closest to what you’ve always wanted. You can have all your dream features and the style you prefer.
  • Customization – If you’re buying into a new development that offers model homes, you’ll get the chance to customize and make the home as personal as possible. Some developments allow room for customization of floor plans, while many offer opportunities to customize finishes and certain features.
  • More affordable upgrades – When you incorporate upgraded features and appliances into a new home, you can also build the cost into your mortgage. Instead of paying thousands out of pocket for a new suite of top-of-the-line appliances or finishes, you can simply pay a few dollars more each month on your mortgage payment.
  • Maintenance free – Witha brand-new home, you will have less upkeep to worry about, particularly in the first 5 years or so. With new appliances, systems, and structure, the home is free from any normal wear and tear, which means less maintenance costs. Moreover, most new homes come with an active warranty that covers any major structural or construction issues.
  • Energy efficiency – Many new construction homes feature energy efficient or Energy Star Certified appliances, windows, and others. These “green” touches and features will reduce your overall carbon footprint and your energy bills, as well.
  • Easier financing – Oftentimes, financing programs are available through the builder, which can make it much easier for you to qualify for a mortgage.

Existing Homes

Existing homes in older, more established neighborhoods often offer a distinct charm that’s hard to replicate in new construction. Here are some of the things you can expect from an existing home:

  • Existing, older homes tend to have more character that you simply can’t find in many new construction ones. They often come with mature lawns and gardens that give them a more lived-in, homey vibe.
  • Existing homes are typically less expensive and offer more opportunity or room to negotiate on sale price.
  • Existing homes are often found in the most desirable areas of town. The dynamics and feel of the neighborhood are already established.
  • The appliances in an existing home may be older and/or less energy efficient. Many of the homes we represent, however, have been updated over the years and feature the latest appliances and fixtures.
  • You can choose a neighborhood where home values show an increasing trend. One of the best things about home ownership in San Diego County is that property values have been consistently appreciating, especially in the last few years, with 2016 seeing a 5.7% appreciation rate.

If you have any questions about new construction or existing home sales in the area, you’ve come to the right place. My team and I would love the opportunity to serve you. Check out our buyer’s roadmap and contact us when you’re ready to get started.