What I Wish I knew Before buying my First House

Location, Location, Location

Get Pre-Approved for a Mortgage

Think Beyond the Present

Understand the Costs of Owning a Home

Compare New Construction vs Resale Home Options

For a first-time homebuyer, purchasing a new construction home offers the advantage of modern amenities, energy-efficient systems, and contemporary designs. Additionally, new homes typically require less immediate maintenance and come with warranties. New construction can be more expensive, and the timeline for completion may delay your move-in if you decide to build from the ground up. However, purchasing an inventory home that's near completion or already built often comes with competitive incentives from builders such as lower sales prices, paid closing costs, and competitive interest rates. If choosing a new construction home take into consideration how long the neighborhood plans to build. In the event you need to sell you will always be up against new construction homes. Give yourself enough time to build equity and for the neighborhood to develop, so you can make the most out of your sale. 

A resale home often offers more established neighborhoods, mature landscaping, and potentially lower upfront costs. It's also highly likely you can negotiate for appliances to convey, and the home can have upgrades such as window treatments, smart home devices, and features that builders may not offer. An established neighborhood likely also has shopping centers, restaurants, and grocery stores conveniently nearby. Resale homes can be older, and may require renovations and updates, and maintenance costs could be higher due to the home's age.