The Ins & Outs of Old vs. New Real Estate in Greenville, SC

Posted by Cameron Keegan on Friday, February 19th, 2016 at 5:30pm.

Are you in the market to buy a Greenville home and not sure if you should opt for a new construction property or something with a little more character? Don't worry – we've got you covered. Keep reading to learn the ins and outs of both options and discover which type of home is right for you.

New Construction Homes

Buying a new construction home may seem like the obvious way to go. A new, contemporary-styled property without problems to inherit probably feels like a breath of fresh air. Or you may consider a never-lived in home to be a risky choice because you have no way of knowing about any problems. The obvious advantages of buying a new construction home in Greenville, SC include:

Pros

Design Flexibility

greenville-sc-new-construction-homesBuying a new construction home usually allows the buyer to make design decisions including countertop options, cabinetry, flooring, etc. You can really make the home your own by picking design themes that you love.

New Items = Less Maintenance

In most cases, buying a new home means you won't have to spend money on repairs anytime soon. New appliances are usually purchased, meaning you're not likely replacing them in the next few years.

Energy Efficient Properties

Most new construction homes in Greenville, SC are designed to be energy-efficient, so you're monthly bills will be lower and you're doing your part to help the environment.

Extended Warranties

If you choose to buy a new home, be sure to review the property's extended warranty. If anything falls apart or doesn't perform as expected, your home should be covered under this warranty for free maintenance or repairs.

Cons

The disadvantages of buying a new construction property in Greenville, SC include:

Lack of Design Innovation

While you can choose the interior colors and textiles of a new construction home, you aren't presumably able to choose the exterior. This can lead to cookie-cutter neighborhoods with a lack of character.

Sold At List Price

New construction properties have very little negotiating room when it comes to price. They're often sold for list price or near it.

Everything is Extra

When you're imagining your newly built home, you should try to imagine it with the basics. You can certainly have granite countertops and all the bells and whistles, but be prepared to pay extra for them.

Existing Homes

If you're considering purchasing an existing or resale home, you'll want to be sure to have it thoroughly inspected before closing the deal. Some of the best reasons to purchase a resale home involve:

Pros

More Options

greenville sc existing homeThere will almost always be a wider selection of older homes with a variety of styles to choose from. These properties can also offer more character and a cozy feel.

Less Expensive

Purchasing an existing home is more often than not, less expensive than purchasing a new construction home. And their prices may be more negotiable.

You Know What You're Inheriting

With a proper home inspection, you'll have the advantage of knowing the property's known issues. Be sure to receive and review all disclosure documents.

Cons

With character and charm can bring unforeseen surprises. Some things to consider when purchasing an existing home include:

Maintenance and More Maintenance

Over time, things break and wear out. This is normal and will happen no matter what type of home you decide to buy. Realistically, this is likely to happen a lot quicker with an older home than a brand new property.

Lack of Energy Efficiency

Older properties were not designed as energy-efficiently as new homes are today. And you may encounter certain issues such as cracks in window frames and doorways, essentially making the property more costly to operate.

Dated

Depending on your point of view, your existing home may look more dated than a new home. The character and charm that you see may just seem dated to others. You'll want to consider the perception of your home to others when buying as this could affect the property's future resale value.

No matter type of home you purchase, be sure it's one that suits your needs and a home that you will continue to love. After all, you have to live there so pick a property that you will enjoy for years to come.

Share your experience of new home buying vs. existing home and let us know which option you chose! Or if you're looking to buy a home in the Simpsonville or Greenville area, contact RE/MAX Moves today!

RE/MAX Moves
100 Batesville Road, Suite C
Simpsonville, SC 29681
Office: (864) 757-4787

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