Home > Homebuyer Resources > Benefits of New vs Used

Benefits Of A New Home Versus A Used Home

Current floorplans, architectural concepts and conveniences
Will require less maintenance and fewer repairs
Builder warranties and various manufacturer/supplier warranties
For the first five years, values in new neighborhoods rise more rapidly than in older ones
When you move into a new community it is easier to form friendships with your neighbors because everyone else is new
Clean and new
New kitchen with modern appliances
Built to current building requirements and local codes
Excitement of "building your own home"
Make your own design and color selections

Older housing often does not meet today’s lifestyle requirements
An older home needs more repairs and hidden defects frequently are not uncovered until after purchase is complete
Used home is seldom, if ever, warranted by the sellers
Old neighborhoods tend to deteriorate after many years, and equity stagnates rather than grows
In existing communities the neighbors have already formed friendships and it may be hard to quickly establish friendships
Additional money may be needed to assume loans or cover closing costs
Older, outdated kitchen
May not be built to current building requirements and local codes.
Living with someone else’s decisions/tastes

Additional Resources