Should I Buy New Construction or Resale in 2023?
When you’re beginning your new home search, there are bound to be several questions on your mind. First, you might consider where you want to live. If you’ve been looking in Coastal Georgia, you’re already off to a great start. Ernest Homes builds in some of the best areas around Savannah, Georgia where you’ll experience beautiful weather, friendly neighbors, tons of adventure, and so much more.
After narrowing down your location, you may wonder whether you should purchase a new construction home or a resale home. It’s a decision that depends on a few factors, including your budget, the lifestyle you want, how quickly you need to move, and more. In Savannah, new construction homes are often the best choice. Below, we’ve compared some key aspects of purchasing new construction vs. resale homes.
New Construction vs. Resale Homes
The Location Options
New Construction: New construction homes are built in a mix of new and established communities strategically placed in ideal locations near schools, shopping, dining, and entertainment. There are many ways to connect with friendly neighbors, including those who may also be new to the area. You can get to know your neighbors by enjoying community amenities like the pool, fitness center, or planned events at the clubhouse.
Resale Home: Most resale homes are in established neighborhoods, which can make it easier to form genuine connections between neighbors. The trade-off is that you’ll be joining an already-established group of friends instead of growing with the community from the ground up. There’s also no guarantee of modern amenities or planned events where you can meet new neighbors.
The Overall Cost
New Construction: Budget plays a role with both new and resale homes. New construction homes in Savannah generally include the base price, lot premium, and any optional upgrades. While they can be more expensive than some resale homes up front, they often offer cost-effective benefits over time. All systems are brand new, including the HVAC system, appliances, roof, and foundation. That means fewer surprise repairs and, in many cases, more favorable home insurance rates. Energy-efficient features in a new home can also reduce your monthly utility bills. Another cost-saving advantage is that many builders partner with trusted lenders to offer attractive financing options and incentives that may help with points, closing costs, or rate buydowns.
Resale Home: It’s certainly possible to find a resale home of similar size and style with a lower initial price point. You may even benefit from slightly lower property taxes in some older homes. However, resale homes often need repairs or updates, which can increase your long-term costs. It’s important to weigh both the immediate and future expenses associated with buying resale. Major repairs—like replacing a roof or aging HVAC system—can also impact your home insurance costs.
The Time Frame
New Construction: If you’re interested in building your home from the ground up, the timeline will vary, but it also gives you time to sell your current home, save for new furniture, and enjoy watching your home come to life. The good news is you don’t always have to wait for construction to be completed. Quick move-in and available homes often have shorter wait times because they are already under construction or ready now. You’ll still get a brand-new, never-lived-in home—just on a faster schedule. Either way, there’s usually a new construction option that fits your timeframe.
Resale Home: When comparing new construction vs. resale homes, timing matters. You might find several resale homes right away, but it can take time to sift through options and find one that truly meets your needs. You’ll also want to factor in potential renovation or repair time after closing.
Why Buying New Often Wins
Unless you’re prepared to invest in renovations on a resale home, new construction is usually your best bet for a home that fits how you live today. New homes are designed with modern, open floor plans you can personalize to your lifestyle, including spacious kitchens, flexible living areas, and multi-purpose flex spaces. Many new homes also come with energy-efficient and smart home features that make everyday life easier and more comfortable.
Buying a home is a major investment worth protecting. With a new construction home, you’ll enjoy the peace of mind of a builder’s warranty. Depending on the coverage, a new home warranty can protect materials and workmanship, plumbing and electrical systems, and even structural components for a set period of time. This protection can also make it easier to secure a mortgage and may help keep home insurance costs lower.
New homes also tend to be stronger long-term investments. At Ernest Homes, we believe building a home is an investment in your family’s lifestyle and should be viewed as a long-term financial and personal decision. We carefully evaluate both cost and value in every home we build. From distinctive architecture to quality craftsmanship and attention to detail, Ernest homes are designed to deliver immediate and lasting value.
While there may be short-term fluctuations in home values, your home is likely to appreciate when viewed as a long-term investment of five years or more. If you’re searching for your “forever home,” an Ernest home can be a smart choice both financially and emotionally.
Contact Ernest Homes for New Construction Homes in Savannah, Georgia
Buying a new construction home comes with many advantages that a resale home simply can’t match. When you’re looking for cost savings, energy efficiency, modern floor plans, and strong warranties in prime locations, new construction is hard to beat. Even better, you can choose an Ernest home in Savannah and the surrounding Coastal Georgia areas.
For over 30 years, we’ve helped families find the right home where they can enjoy these benefits and more. Take a moment to browse our wide selection of floor plans, and let us know when you find one you love or if you have any questions. We look forward to helping you find your new home.
