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Buying New vs Buying Used

Designed to accommodate today's busy lifestyles, new homes feature open floorplans, flexible spaces, improved safety features, low-maintenance materials and other amenities that make them more appealing than ever before.

Prospective home buyers who wish to live in age-qualified communities, for those 55 and older, will find a large selection of homes tailored to the evolving lifestyles of the baby boom generation.

There are many other benefits associated with buying a new-build home:

  • Brand new homes are one of the easiest ways for any home buyer to get on the property ladder and start generating substantial equity over the first few years.

  • New homes are safer than older homes! They feature better wiring systems and have to adhere to today's strict building codes and standards.

  • New homes are healthier because most hazardous materials have been eliminated from home building products.

  • Due to better windows, more efficient heating and cooling equipment, better control of air infiltration and greater use of new insulation technologies - new homes are twice as energy efficient as homes built prior to 1980!

  • New homes are less expensive to maintain than older homes. A new home can be operated for 20-30% less than a home built prior to 1980.

  • New homes often sell at higher resale values than older homes and carry better warranties.

  • A new home, in a new community allows you to make friends quickly - everyone in the neighborhood is new and that allows you to establish bonds and create long lasting friendships.

  • Pride in being the first owner of a new home - which is an expression of your style, lifestyle and opinions.

  • You don't have to worry about replacing old carpeting, counter tops, appliances or the roof! You get to choose exactly what you want and it's ready as soon as you move in!

  • Today's new homes are being wired to take full advantage of the latest communication, security, home office and entertainment technologies.

Should You Remodel or Build New?

According to Remodeling Magazine's Cost vs. Value report for 2013-14, it's very rare to recoup the cost of a remodeling project.

  • The average cost of a kitchen remodel in Western New York is just over $55,000. This includes updating a 200 square foot kitchen with 30 linear feet of wood cabinets; a 3x5 foot island; laminate countertops; double stainless-steel sink; new energy-efficient appliances; new flooring and paint throughout. The average value of your new kitchen when you come to sell your home is only $42,000 - just 75% of what you spent.

  • A major bathroom remodel costing $52,000 is only valued at $33,200 at time of sale.

  • Adding a sunroom could cost you nearly $74,000 but only have a resale value of $34,300.
A better option may be to build a new home. It might sound extravagant to buy a new home just because you don't like your kitchen but, when you take into consideration the cost, time and aggravation of remodeling, a new home actually makes sense:
  • A new home gives you the space, layout and features that you want.

  • Unlike remodeling a used home, your new-build home will nearly always have a greater resale value than it costs.

  • You benefit from lower running costs due to energy-efficient construction and gain peace of mind with your new home warranties.
To find out more about how a new-build home can benefit you and your family, contact a Forbes Capretto New Home Consultant.