Choosing between a new construction and an already built house ultimately comes down to what a future homeowner values more. Is it the opportunity to create a space that is specifically designed to your exact specifications? Or, is it the peace of mind of purchasing an existing home? While one isn’t necessarily better than the other, the best approach is the one that aligns with your homeownership goals.
The case for building brand new
Barring budget concerns, there are virtually no limits to customization. From designing the floor plan and choosing paint colors in every room to making space for high-end appliances, you can build a home that truly reflects your tastes and preferences. Building brand new is often the approach some buyers take when they can’t find the right home that exactly fits their needs.
As an owner of a newly built home, you don’t have to worry about maintenance issues for the first few years. A leaky faucet or loose window frame may pop-up at the outset, but the likelihood of experiencing major problems (e.g. roofing, drainage, foundation) is significantly lower. This may not apply to older or existing homes — some of which are likely to have underlying issues after years or even decades of use.
Building brand new also means having the option to choose energy-efficient materials and structural designs. For the environmentally conscious homebuyer, this is a major factor to consider. New innovations in home insulation, heating, and cooling can reduce a home’s carbon footprint and utility bills in the long run.
The case for buying existing homes
On the other hand, buying an existing home can also have advantages — starting with cost. It’s significantly cheaper when you don’t have to bother with drafting up an entire construction plan and securing the necessary building materials. Plus, you don’t have to deal with the stress of project roadblocks due to lack of supplies and materials.
Second, you can still introduce personal touches or customizations to an existing home. Whether it’s a dedicated gear shed for outdoor hobbies or a fresh coat of paint in the kitchen, you can still make further updates to make a home truly yours. When compared to full-scale construction projects, these additional changes or improvements do not cost as much.
Lastly, many existing homes already have decent — if not outstanding — locations in a neighborhood. It’s not uncommon to find homes sitting on a highly sought-after location despite being left unattended for years. In some cases, it may be worthwhile to restore and update these homes. With a stellar location and a few upgrades, property value can steadily rise and net a high return on investment for you in the long term. Moreover, new construction can be challenging if you can’t find a great location to work with in the first place.
Team Schlopy is ready to assist homebuyers in Park City, Utah
Whether it’s building a new home or buying an existing one, our licensed Realtors from Team Schlopy can guide you as you explore the Park City housing market. We will help you find a turnkey home that checks all the boxes and is ready for immediate occupancy.