New or resale?

Determine what’s right for your dream home needs

If you’re looking to buy a home, there are a number of decisions to be made, and a big one — maybe the first one — is whether you want an older home or new construction.

David Schwab, president of Schwab Design Builders, said there are differences to consider.

“The appeal of a new home is that the buyer has the opportunity to design the layout or floor plan of their new home specific to their dreams or desires. The appeal of a resale home is that you are buying a home that would be cheaper than the price of new homes today. You are buying a home that may not be specific to your needs and desires. There are potential update and repair costs,” Schwab said.

Simran Rihal with Greenwood King Properties said many buyers are drawn to builder warranties for new homes.

“Most new-home builders offer a 10-year warranty that covers the structural components of the home. Some don’t offer this for free or at all, so it is important to speak to your Realtor,” Rihal said.

Another consideration is price and location, Rihal said, adding that on average, a new home can be 20% more expensive than an existing one.

“Opting for an older home could mean getting more home for your money. Newer neighborhoods also value higher than average, which could result in higher property taxes. Often new homes are further away from the center of the cities where land is more readily available, leading to commute times for occupants,” Rihal said.

Each home offers its own benefits, said Dawn Gunther, ALHS, Keller Williams Memorial.

A new home, if purchased in preconstruction or during construction, allows the buyer to select their desired color palette, upgrade appliances and pick flooring, according to Gunther. They also offer green options that are healthier and friendlier to the environment, all while lowering your homeowner’s insurance, she added.

“A new home in completion can offer that move-in-ready feeling, taking the stress of waiting and decision-making away,” she said.

A resale home has its advantages, too. Gunther said though older homes may need some updated features, but they also may have hand-tooled woodwork and more.

In the end, choosing a home that’s right for you is just what appeals to your lifestyle.

“You have to decide what speaks to you more — the bells and whistles of a 21st century construction or the well-preserved gem …. The city of Houston offers both,” said Rihal.

“Most new-home builders offer a 10-year warranty that covers the structural components of the home . ... so it is important to speak to your Realtor.” - Simran Rihal, Greenwood King Properties