There is a question that most potential homebuyers will ask themselves at some point in the process. “Should I buy that charming old home on the corner or build one of my own?”
There are circumstances when buying that old resale home might work for you. However, if you look past the charm and the mystique of that used home, you will more than likely find that a better option for you and your wallet is to build your dream home with a custom home builder.
One of the biggest faults with a resale home is the amount of money you will need for repairs.
• The average hot water heater lasts 10-13 years. When was the last time it was replaced in the home you are considering purchasing? Replacing a hot water heater can cost over $600.
• An HVAC system has an average life span of 15-20 yrs. Replacing an entire HVAC system can cost over $5,000.
• An average 3- tab shingle roof lasts approximately 15-18 yrs. Instead of replacing the roof on a house that you just bought, why not take the family on vacation?
These are just a few examples of things that will inevitably need repair in a resale home.
Another huge advantage to new construction is energy efficiency. There are several ways that new codes, new materials and consumer demand have changed the energy factor for the better.
Windows are a great example of the change in efficiency; modern windows can save you up to 50% in heating and cooling costs. New roofing materials also reduce energy cost. On average, you will save about $67 a month. That’s enough savings to buy that new TV you’ve had your eye on, and the energy you save with those new windows, the new roof and other new construction products will run that TV for about 10 yrs!