Deciding to move comes with many questions: Where should I live? How many bedrooms do I need? What square footage makes sense for my household? Should I buy a condo or a house?
You need to consider many details, and an important question you need to ask is: Should I buy a new construction home or a resale one?
In any housing market, there are good reasons to consider new construction homes. In a housing market that is constantly evolving, new construction homes not only have advantages you’ll enjoy the day you move in but benefits that will last you well into the future.
Let’s compare buying a new construction home versus a resale home:
Home designs have continuously evolved to better fit our needs. From the incorporation of garages as a “must-have” item in the ‘60s, the increase in popularity of two-story homes in the ‘80s, and the shift from compartmentalized rooms to open-concept floor plans in recent years, homes have changed over time to meet the new needs of homeowners.
When you buy a new construction home, you move into a floor plan that meets your needs on day one rather than wasting your budget and time renovating an older home’s layout that doesn’t work for you. You can choose your finishes, fixtures, and even structural options to customize your new home exactly to your liking.
At Brookfield Residential, we want you to feel comfortable and informed starting day one of your homebuying journey with us and beyond. With complete pricing transparency, we let you know the exact costs so you can look forward to a home and community that will add value and enrich your quality of life.
myVision home visualizer offers home shoppers a one-of-a-kind online buying experience where you can explore interactive floor plans, customize kitchen materials, and browse home exterior styles. Even better? As selections are changed, pricing is adjusted to reflect your choices so as you shop, you know exactly what a particular design or structural selection will cost.
Home prices have been in flux for some time now, so having a set-in-stone price means you don’t need to worry about market shifts affecting the final cost of your new home. Once you enter into your purchase contract, you can rest easy knowing the price won’t change, and there won’t be a higher bidder you have to compete with.
Smart home technology takes your home to a new level of functionality that has never been experienced before. You work hard, and your home should work just as hard as you do – that’s why myCommand is included on every Brookfield Residential home.
This connected home package may include a smart thermostat, smart smoke and carbon monoxide detector, smart lock with keyless entry, Wi-Fi enabled garage door opener, and leak sensor. You can unlock the door, adjust the thermostat, and more at any time, from anywhere. You have all the latest smart home technology to enjoy when you are home and the ability to monitor everything when you are away.
A new construction home can be built fully connected and filled with smart home accessories ensuring an easy, seamless user experience.
Your new Brookfield Residential home is built to be more energy efficient. Compared to older homes with dated systems, new construction homes come with multi-pane windows, tankless water heaters, HVAC systems, and more specifically designed to keep your home as energy efficient as possible. It’s also built with sustainable materials designed for the highest performance levels – it’s good for the environment and your wallet.
With all those brand-new systems in place, the need for immediate repairs is low. You can better predict monthly homeownership costs since you’ll likely spend less to maintain your home. Add in the benefit of your new home warranty, and your budget can breathe a sigh of relief knowing that you’re covered if any issues arise.
A new construction home often comes with brand-new amenities like a resort-style pool, clubhouse, parks and playgrounds, or a fitness center. Some neighborhoods take this to the next level with a community coordinator who creates a full social calendar and neighborhood events to enjoy. Added bonus? If you’re able to buy in the early stages of a new neighborhood, the value of your home increases as the amenities are added and become fully functional.
Moving into a new home community means you’ll likely have neighbors who are also just settling in, providing a fresh start and new bond for everyone. Small talk about moving challenges turns into tips and tricks for unpacking quickly, and next thing you know, you’re hosting that neighborhood block party that will become an annual tradition. Good neighbors quickly become great friends.
There’s also a sense of connection with your home as you’ve watched it be built from start to finish. You’ve chosen the homesite. You’ve selected the floor plan. You’ve curated the finishes. The emotional tie of living in a new home that you’ve designed and created specifically for you just can’t be found in a resale home.
One factor that may influence your decision about choosing a new construction home is the construction timeline. If you’re ready to move now, you may be concerned about waiting months to have your home built.
The timeline to construct a new home from the ground up can vary significantly based on several factors, but studies suggest it’s around seven months. If you need to move in sooner, purchasing a home already under construction, or a move-in ready home, gives you the benefits of buying a new construction home while shortening the time from the day you buy to the day you move in.
Depending on the stage of construction the home is in, you may be able to be involved in much or some of the design process as well. You’ll get that new home experience in a shorter time.
New construction homes come with more decisions than buying a resale home. You have the typical considerations to make, such as location, bed and bath count, and square footage, and you’ll also have finish and feature decisions, such as countertops, cabinets, flooring, and paint. While you can become overwhelmed by the endless materials and finish options, the opportunity to make your home perfectly yours is exciting. And of course, our design experts are there to guide you the entire way.
At Brookfield Residential, we’re committed to providing an exceptional customer experience throughout your homebuying journey. Our sales team is ready and available to answer any questions. Our preferred lender partner, BRP Home Mortgage, can guide you through the financing process step-by-step with mortgage calculators to help you estimate your monthly payments and determine your budget. Whether you want to choose from a designer-curated palette or prefer to mix and match for a look that is completely your own, our design experts will ensure the result is a beautiful home you’ll love for years to come.
You’ll typically move into a resale home 30 to 45 days after your purchase offer is accepted. Unless you’re buying a fixer-upper or want to complete extensive renovations before you move in, you’ll be able to move in as soon as you get the keys.
New construction neighborhoods mean that everything is new – including the landscaping. New landscaping can take years to grow and fill in, so the community may feel stark until plants and features bring in some vibrancy. Some home shoppers prefer an established neighborhood with mature trees lining the streets.
New construction homes aren’t being built in every single city. If there’s an area or location you have your heart set on, you may not have any other choice than to buy a resale home. Opting for a resale home typically gives you a wider search area when deciding where to live.
Everything is new with a new construction house, including costly components such as the furnace, air conditioning unit, water heater, kitchen appliances, roof, and more. These components have been in use with a resale house which means they may be close to needing replacement. Typical improvements that arise in the early years of resale homeownership include:
Not only do you need to consider the cost of replacing outdated components, you also need to factor in the ongoing expense of features with lower energy efficiency. Single-pane windows, lack of insulation, old wiring, outdated lighting and bulbs, and traditional water heaters all contribute to lower energy efficiency in a home. While these things can be upgraded and replaced, it’s more costly to undo and redo something than to include it when building the house.
Unless a home has been extensively remodeled (which often means a higher price tag), you’re unlikely to find a resale home with a modern floor plan and finishes you love throughout. Older homes were built for a different era and way people lived, so you may find kitchens, bedrooms, and living areas don’t align with the modern flow you’re looking for.
Often buyers find that established homes in their price range require significant updates and renovations to make them meet their expectations. Plus, in the housing market we’re experiencing today, building a new home means getting exactly what you want when you want it and without the risk of losing it to a higher bidder.
As you begin your homebuying journey, be sure to do your research to determine what is best for you and your needs. While a resale home is a great option, the benefits of buying a new construction home can’t be overlooked.
We understand the importance of finding the best place to call home and are committed to helping you every step of the way. Check out the Brookfield Residential blog for design advice, homebuying insights, mortgage tips, and more, including if new construction homes are a good investment and how to decide where to live. You can also explore where we build and connect with our sales team when you’re ready to learn more. We’ll be expecting you!