Existing Resale vs. New Construction Homes: What’s the Best Value?

By Buying, Real Estate Market February 13, 2023
New construction home being built

Do you like a project and turning an existing and dated home into your own? Or is a newly built home where you can make design choices upfront more your preference?

Your answer may likely depend on your finances and lifestyle and these questions usually come up early in the process of searching for a home. When it comes to real estate investments, buyers want to know which option holds the best value.

Which is Better, The Existing House or The New One?

Truth be told, there is no right or wrong answer. There are multiple factors in determining the best home value for an existing home versus new construction.

These factors can differ from property to property. In the end, it’s up to the buyers to determine what is best for them, and some of these deciding factors can be:

  • Location
  • Repairs, maintenance, & customization
  • Total purchase price

New Construction Homes

Pros for purchasing a newly constructed home:

  • You get to choose the fixtures and features
  • It’s new, so you most likely have a warranty on everything including appliances
  • No worries about old plumbing and electrical
  • Sometimes you may be able to choose the perfect lot

Cons for purchasing a newly constructed home:

  • More expensive.
  • Potentially longer wait time for construction to be completed.
  • Unless you’re building a custom home, some new construction homes have cookie-cutter vibes in certain neighborhoods.

Existing Resale Homes

Pros for purchasing a pre-existing resale home:

Cons for purchasing a pre-existing resale home:

  • The layout might not be able to be changed because of load-bearing walls
  • It could be less energy efficient due to outdated windows and insulation
  • More home maintenance

Having a real estate agent by your side during the home buying process is highly recommended because they can help you see the value, or lack of value, in each property you view. If the property is going to be a rental investment, I also recommend discussing properties of interest with a property manager so they can help with the process and help determine which property might get you the best return on your investment.

If you are looking for an investment property in the High Country of North Carolina, give an 828 Real Estate agent a call!

About the Author
Lindsay Pinckney, NC Broker/REALTOR® • 828-268-8004 • [email protected]
Born and raised on Hilton Head Island, South Carolina, Lindsay grew up vacationing in Blowing Rock and Boone with her family. Lindsay attended the University of Alabama, where she studied Hospitality Management and was a Zeta Tau Alpha Fraternity member. Lindsay and her husband, Dustin, moved to Boone in 2012 and have since added two little boys, Owen and Graham, and a little girl, Darcy, to the family. She is excited to raise her kids in the High Country and enjoys taking them to Tweetsie Railroad and the fantastic parks in the area. A few of her favorite things are kayaking down the New River and enjoying the local restaurants and breweries. Lindsay spends her free time exploring everything the High Country has to offer with her family, traveling, and Alabama football! Lindsay is a licensed NC REALTOR and has been practicing real estate since 2018. As a "transplant" from South Carolina, she feels she can relate well with clients buying property from outside of the area. She loves enlightening others about the High Country and enjoys helping them find their mountain home. Her goal is not only to make the buying or selling of property a breeze, but to create an enjoyable experience and friendship.