Speak with a VA Home Loan specialist today. (931) 548-1985

Select Page

When the time comes, finding the home of our dreams is a joyful journey we all feel lucky to have. But it is ultimately a fork in the road leading you toward two different paths, both with positive outcomes but with their own set of stressors to endure. 

Figuring out whether buying a previously owned home or building your own dream home from the ground up is the right choice for you is a weighty decision. Here are some key factors you should consider. 

Brand New Home


New homes are more easily customized

There are many ways you can go about purchasing a new home. Whether you work closely with a builder or buy a newly constructed house, you may have the option of personalizing some finishing touches, such as colors, light fixtures, or even details in the interior/exterior. 

Smarter technology

An older home may not have any modern gadgets that may help make it more comfortable to live in. When you choose a new house, you can add smart features which are controllable with your phones, such as thermostats, locks, or even the oven. 

Lower maintenance costs

When you construct or customize a brand new home, chances are you’re going to be able to ward off any significant repairs within the first few years, most likely because a new home is built with the most current building codes in mind. 


It could be more costly 

Equipping your new home with all the latest tech is not cheap and could escalate your overall expenses more than you think. Not to mention you may have to shell out some cash for land before construction, in addition to purchasing insurance and hiring contractors. 

Location may not be favorable

Considering the increasing levels of competition in high-density urban areas, new homes are mostly being built in less populated locations that you may be unfamiliar with and may be distant from your favorite amenities. 

May need to pay HOA fees

Not all pre-existing homes belong to a homeowners association. There are benefits to HOAs, such as the property’s maintenance, but they often involve some hefty fees. And when it comes to a new home, many of them are part of a new development area with an HOA in place. 

Existing Home


Quicker move-in time

An existing home doesn’t require any extraneous tasks other than closing the deal and getting the key for you to move in. However, moving into a new home may require additional time due to a delay in construction or materials. 

Can be renovated

Existing homes are potential fixer-uppers. While they may not come equipped with the decorative features you desire, you can merely add them yourself in your own time, lessening the stress of getting everything done in one go. 

May be in an established neighborhood 

A previously owned house comes with much more than some character; it comes with all the niceties of the neighborhood, including a good school district and popular shopping centers. 


May need to budget for upgrades

If you think buying an older house is a way to get more bang for your buck, you might want to reconsider. This, of course, depends on the age and condition of the house, but it could mean budgeting thousands of dollars to replace or upgrade entire systems, such as the plumbing or electricity. 

More competition

If you’ve ever been to an open house, chances are you’ve seen an array of potential buyers all in the pursuit of finding their dream home, just like you. Existing homes in a nice neighborhood will probably have a lot of offers from other interested buyers you’ll have to beat out. 

No warranty

Most newly built homes come with a builder warranty which covers workmanship and materials early on. In an existing home, the only warranty available is after market warranties that charge an annual fee.

Making the choice

Think about the comforts your dream home should have. Can you find an existing home with everything you love, or would it be a better option to take matters into your own hands?

Contact 1st United Mortgage to discuss your home-buying plans, and get advice on closing the deal on the home you deserve. 


Share This