New Construction VS Resale Homes: Making the Right Choice

New Construction VS Resale Homes: Making the Right Choice

When it comes to finding your dream home, one of the fundamental decisions you’ll face is whether to buy new construction or opt for a resale property. Each option has its unique advantages and considerations.

The choice between a new construction home and a resale home in Las Vegas, as in many other locations, depends on various factors. Here are some key differences between the two:

1. Age and Condition:

New Construction: These homes are built from the ground up, so everything is brand new. You won’t have to worry about aging systems or repairs for quite some time.

Resale Homes: These homes have been lived in before, so there may be wear and tear on various components. Depending on the age of the home, you might need to budget for maintenance and potential upgrades.

2. Customization:

New Construction: Buyers often have the opportunity to customize certain aspects of the home, such as finishes, flooring, and sometimes even the layout, depending on the stage of construction.

Resale Homes: While you can renovate and make changes to a resale home, the initial design and layout are already established.

3. Energy Efficiency:

New Construction: New homes are generally built with the latest energy-efficient materials and technologies, which can lead to lower utility bills and a smaller environmental footprint.

Resale Homes: Older homes may require updates to improve energy efficiency, such as upgrading insulation, windows, or HVAC systems.

4. Location:

New Construction: New developments are often on the outskirts of the city, where there is still available land for construction. Consider the commute and proximity to amenities.

Resale Homes: Older homes may be in more established neighborhoods closer to the city center, with mature trees and infrastructure.

5. Cost:

New Construction: The initial cost of a new construction home might be higher, but you might save on maintenance and repair costs in the short term.

Resale Homes: The purchase price might be lower, but you should consider potential maintenance and renovation costs.

6. Timeline:

New Construction: It takes time to build a new home, and you might have to wait several months before you can move in. Delays can also occur due to weather or construction issues.

Resale Homes: You can typically move into a resale home more quickly, as it’s ready for occupancy.

7. Home Warranty:

New Construction: Often comes with a builder’s warranty, providing coverage for certain components for a specified period.

Resale Homes: You might need to purchase a home warranty separately, and coverage can vary.

8. Property Taxes:

New Construction: Property taxes on a new construction home might be based on the land’s value initially, and then adjusted as the home is completed.  New construction taxes are generally higher than older homes.

Resale Homes: Property taxes are typically based on the current assessed value of the property and in Las Vegas you can cap the assessed tax to be no greater than 3% a year.

9. Landscaping:

New Construction: Landscaping in new construction homes may be minimal initially, and it might take some time for trees and plants to mature.  In many cases backyards are not finished and the HOA requires plans to be submitted within 6 months to a year.

Resale Homes: Older homes may have well-established landscaping with mature trees and plants, providing immediate aesthetic appeal.

10. Negotiation Flexibility:

New Construction: Builders may have less flexibility in negotiating the price, but they might offer incentives or upgrades to close the deal.

Resale Homes: There may be more room for negotiation on the purchase price, especially if the home has been on the market for a while.

Choosing between new construction and resale homes is a personal decision that depends on various factors, including your preferences, budget, and timeline. Consider what aspects are most important to you and weigh the pros and cons of each option.

Whether you opt for the modern allure of a new construction property or the character-filled charm of a resale home, the key is to find a home that aligns with your unique needs and vision for the future. Consulting with a real estate agent can also provide valuable insights into the local market and specific considerations for Las Vegas.

Happy house hunting!

If you’re considering buying a home in the Las Vegas Valley, please don’t hesitate to reach out to me. I’ll get back to you personally and promptly. Thanks for visiting!

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Angela O’Hare
Favorite Las Vegas Realtor
Home Realty Center
Lic. #180246
702-370-5112
[email protected]
www.neighborhoodsinlasvegas.com