Weighing the Pros and Cons of Buying a New or Existing Home

Are you ready to buy a house? If so, you are most likely debating between purchasing an existing home or investing in new home construction. Of course, there are pros and cons to both decisions, but making the right choice for you depends on weighing the positives and negatives to see what you can live with.

Move-In Date

If you decide to build new, you will likely have to wait for a minimum of four to six months before you can move in. Of course, the timeframe could be expanded if the build is complex or comprises a significant footprint. However, the primary benefit of the wait is that your home is finished when you move in.

Existing homes often have a quicker move-in date, typically 30 days, but they often come with expected work or renovations. Granted, you can renovate your home while living there, but that does not make for a very comfortable arrangement.

Freedom of Design

New home construction allows you to customize your house. You design everything from the ground up, including the footprint of the home. With existing properties, you are often tied to an existing footprint, and while expansion is often a possibility, it is also incredibly expensive.


People often harp at the expense of a new build, but they do not consider the additional costs of an existing house, especially when trying to renovate it to suit your style and needs. Yes, a new build will cost more upfront, but it will leave you with the house you want with minimal immediate future upgrades.

New home construction has many benefits, but an existing home often has a charm you can’t find in new builds. Whatever house you end up in, just make sure it is what you want and presents the opportunity for future family growth. You need to sit with the pros and cons of each house type and decide what is acceptable to you.