New Build vs. Resale Homes

Home
Like New Homes
New Build vs. Resale Homes

New vs. Resale Homes Pros and Cons

Deciding on whether or not to buy a new house vs. a resale home is a decision that depends on your individual needs and tastes. Here are some things to consider before you decide one way or the other.

Resale Homes

Pros:

Neighbourhood: Schools, public transit and other conveniences are typically already in place.

Landscaping: Trees, shrubs, driveways, decks and fences are usually already in existence.

Older homes often have traditional layouts. It may be possible to add another bedroom, an ensuite bathroom, an upgraded kitchen or a main floor family room.

You are physically able to walk into rooms and know how much space you will have to work with. What you see is what you get.

Cons:

Upkeep for an older home can be more expensive because of older appliances, plumbing and electrical systems

You may need a new roof or a new furnace sooner than you think

Old windows and inadequate insulation can drive up heating bills.

Renovating can be hard on both your nerves and your wallet.

New Build Homes

Pros:

When you buy a home from the plans, you can select the layout you prefer and in some cases you can even customize.

You also get to chose from a broad selection of paint colours, kitchen cabinets, counter tops, carpet and flooring.

The inclusion of new appliances, a more contemporary/current design and upgrades, can give you more for your money.

every new home in Ontario is protected by a mandatory warranty provided by the builder and guaranteed by Tarion.

The wait for a pre-construction house can be a long one. In some cases, years before the home is completed.

Cons:

New homes tend to be in a suburban area which can mean a much longer daily commute.?

Depending where you work, you also have to figure in the cost, wear and tear of an hour or more of travel each way

Paved driveways, fences, decks and landscaping are typically additional costs that you will have to shell out for on top of the initial purchase price of a new home.

You don't know who your neighbours will be.

It's hard to know what the actual dimensions of a room will feel like from a blue print alone

Location of schools are yet unknown.

Property Taxes have yet to be determined.

Post-Construction Resale Homes: The best of both worlds.

Can't decide on whether to buy a newly built or an existing home? Consider a post-construction home. Post-Construction homes can very in age from "New" to 5 years old. They include all the benefits of a newly built home with the current availability of a resale home. For homes in more established neighbourhoods, this can often include paved driveways and fences as well as convenient accessibility to public transit , schools and other amenities.

See a list of Homes 5yrs old or newer .

Showing 214 properties out of 229 currently available on the market.

To view additional 15 properties please login or click here to create a free account.

Sort by: