Should You Build a New Home or Purchase An Existing Home?
Both options have pros and cons, and the answer may depend on your current and future family needs. To help you in your decision-making process, we’ve outlined the pros and cons of buying existing homes versus building new construction homes in Greenville SC.
Buying Homesites & Building Homes For New Construction Greenville SC
Are you currently faced with the decision of whether to buy an existing home and maybe doing some renovations or buying a homesite and building your home from the ground up?
Believe it or not, often times, you can purchase the ideal lot in your preferred location/neightborhood and builda home with all the features and amenities you need to relax and unwind. The best part is that you’ll be able to choose your floorplan and features, right down to the paint on the walls and the exterior appearance.
Benefits of Building New Construction Greenville SC
You can pick your lot.
New construction comes with the ability to purchase your ideal lot either in a subdivision or as an individual property. If you choose a new neighborhood, you may be able to purchase two lots to ensure you have enough property for yourself and your
You can get the right size home for you and your family.
Purchasing a custom built home means you will get the right size home for you and your family. This means that you can get all the bedrooms, bathrooms and family spaces you need in a layout that makes sense for you to be able to interact with your family members or get that much deserved quiet time.
You’ll be able to pick the ideal floorplan.
Do you want an open or closed floorplan? Getting a custom built home means that you’ll be able to choose the type of floorplan you need and customize the features. For example, if you want an open kitchen, dining and living room, you’ll be able to
build a home that has that type of floorplan. If you want a formal dining room and a separate place for conversing or entertaining, you’ll also be able to design a floorplan with those options.
You’ll be able to choose your landscaping.
How do you want the outside of your property to look? Do you want to take advantage of the cooling effect of trees, shrubs and bushes near your home? Would you prefer custom-built flower beds? Do you want an outdoor kitchen, pool, hottub or gazebo?
With new construction, you’ll be able to choose your outdoor landscaping and hardscaping features so that you have the recreational areas you need to sit and enjoy the fresh air or cookout for friends and family members.
You won’t have to perform renovations or upgrades.
Purchasing a custom-built new home means that you will not have to perform renovations or upgrades for many years, and you won’t need to make those dreaded repairs that come along with an older home. Instead, all you have to do is move in and enjoy your new luxury indoor and outdoor spaces.
You’ll get a home warranty.
New custom built homes come with home warranties, which means if you find anything wrong with the home during the warranty period, the home builder must come back and make the appropriate repairs free of charge. This can give you peace of mind.
Potential Drawbacks of Building New Home Construction Greenville SC
You may pay more upfront.
New construction is often more expensive upfront than purchasing an existing home. However, you won’t have to worry about performing any upgrades or repairs for many years after your new home is built, which can offset the upfront costs.
Though it’s very important to remember that often times when an older home is purchased there are much needed upgrades and renovations that must take place – which increases it’s upfront cost.
Your commute may be longer.
New home communities are often located along the edges of cities in suburbs. This can be great if you are looking to get slightly out of the city while still being within driving distance of restaurants and entertainment, but your work or school commute may be longer.
You won’t be able to move in right away.
New custom built homes can take as long as six months to build. This is because the ground needs to be prepared. The foundation needs to be poured and given the appropriate time to cure, and the home must be built from the ground up. However, once you move in, all you’ll have to do is enjoy your new custom build home.
Buying an Existing Home
Existing homes are great for individuals and families who are looking for something that may cost more but that is move-in ready or something they do not mind renovating prior to moving in. Existing homes can also be less expensive than new construction by as much as 20 percent (Note: that cost is before any renovations are done to the older home), and the neighborhoods are often mature and contain long-time residents, which can be a boom if you’re looking for neighborhoods with children your kids can play with or neighbors that are eager for a conversation.
Benefits of Buying an Existing Home
You can often move in right away.
Existing homes are often ready to be lived in. This means that once you close, which can take between 45 and 60 days, you’ll be able to move in and start enjoying your new-to-you home or making minor changes, like repainting and installing new trim
or other features that you may want.
You’ll pay less upfront when you buy an existing home.
Existing homes can cost up to 20 percent less than a comparable custom home (Note: that cost is before any renovations are done to the older home), which can be a boom for first or second-time homeowners or prospective homeowners on a budget.
You’ll get access to an established neighborhood.
Existing homes are in established neighborhoods with mature landscaping and neighbors that have lived in the area for decades. These neighborhoods are also often closer to amenities and attractions when compared to new construction neighborhoods.
You may have access to outbuildings and items that weren’t there when the home was constructed.
Homeowners often make exterior property improvements over time. This means that you may have bushes, trees and flowerbeds that are already established. The previous homeowner may also have installed or built sheds and other outbuildings that will provide you with extra storage for lawn care equipment and other items that you do not use all the time.
If the home was recently upgraded, you won’t need to make many if any renovations.
Many homeowners often make improvements to the property before they sell. While this can increase the purchase price, it means that you will not have to make these upgrades. Common pre-sale renovations include updating the HVAC system, installing a new roof and freshly painting the walls in neutral colors.
Drawbacks of Buying an Existing Home
You may need to perform renovations and upgrades prior to moving in.
If the previous homeowner is selling the home as-is, you may need to perform renovations or make upgrades prior to moving in. If there are large items that need repaired or replaced, like the roof, HVAC system or plumbing, you may be able to negotiate the price down in order to help pay for these upgrades, but you may not be able to move in until the renovations and upgrades have been performed.
The floorplan may not be ideal for you and your family.
Existing homes come with existing floorplans, which means it may not be ideal for you and your family. If you are looking for an open floorplan, the existing home may only have a semi-open floorplan or worse, a closed floorplan. It also may not have
certain features that you want, like a family or great room, a home office or even the number of bathrooms you would prefer.
Choosing Us as Your Builder for New Construction Greenville SC
When it comes to getting a high-quality, energy efficient home that meets you and your family’s current and future needs, you may want to consider a new, custom built home.
New homes have not been previously lived-in, and they will come with all the features you need to make your daily living a breeze. Once the home is built, all you have to do is move in and enjoy it. Since all your appliances, heating and cooling and even the finishes are new, you won’t have to lift a finger. New custom built homes also come with warranties, which means if you find problems or if something breaks, you will be able to call us to have it repaired for free.
To learn more about our custom homes and to get an estimate for your new dream home, call us today.