If you’re trying to decide if you would rather buy an existing home or build it can often feel overwhelming. Here is our short take on the pros and cons of each. Either option can be great as long as you consider your budget, timeline, and expectations for the process.
BUYING AN EXISTING HOME
Perhaps the most obvious part of buying an existing home is that it is already built. The timeline isn't a factor unless there are significant repairs to be made so you can typically be in your “new to you” home within about a month. Existing homes may also be in established neighborhoods that already have mature landscaping, trees, etc. However buying a resale home means that all of the components of the house have some use already. Plumbing, electrical, roof and HVAC age are all practical considerations to make when buying an existing home. Home inspections are a key part of the process but they can only offer suggestions and can not predict how long those components will last into the future. From a real estate agent’s perspective, many homes that appear “move-in ready” still require updates or repairs within the first few years of ownership.
BUILDING A NEW CONSTRUCTION HOME
Building a new construction home allows you to design a space that fits your lifestyle from day one. Buyers can often choose floor plans, finishes, and features that suit their needs. New homes typically include modern layouts, improved energy efficiency, and brand-new systems. All of these custom choices take time to implement and the timeline to build a new house can be up to a year depending on the scope of the project. When building new construction you get just that NEW. Every component of the house is brand new and should have a reasonable amount of time that it is free from issues other than regular maintenance. Most components have a warranty of some kind for at least the short term. Costs can also change based on materials, labor, and design choices, which makes working with experienced professionals especially important.
FINAL THOUGHTS
Choosing between buying a home and building new construction is not a one-size-fits-all decision. The best choice is the one that fits your budget, timeline, and long-term plans.If you’re considering buying or building in the Shoals and want honest guidance from professionals who understand both real estate and home construction, Wright Realty Shoals is here to help. We’re happy to walk through both options and help you decide what makes the most sense for you.