If you're hesitant to purchase a home due to concerns about maintenance, here is some helpful information comparing new home construction with existing homes.

Newly Built Homes Need Less Upfront Maintenance

If you're able to invest in it, a newly constructed home might alleviate your concerns regarding maintenance expenses. Consider this: with everything being new in the house, there won't be the wear and tear typically seen in older homes, potentially reducing the need for repairs. As per LendingTree:

““Since the systems, appliances, roof and foundation are new, you’re less likely to pay for major or minor repairs within the first few years of homeownership. That can make a big difference for first-time homebuyers who are adjusting to owning rather than renting.”
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— LendingTree

Builders often provide warranties for their homes, which can help cover significant expenses that may arise. According to First American...

““The new systems in your home, like plumbing, electrical, and HVAC, are typically covered for one to two years by your builder’s warranty. When something happens to these systems, you contact the builder or their warranty company.”
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— First American

Existing Homes Can Still Have Great Perks

Certainly! Existing homes also have the option to come with warranties, not just newly built homes.

Your agent might assist you in negotiating with the seller to include one as a concession in your contract. However, it's essential to note that not all sellers may agree to this. In case they decline, you have the option to buy one yourself. An article from Forbes details this process.

““During a real estate transaction, a home warranty policy can be purchased by the buyer or the seller.”
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— Forbes

There are advantages for both buyers and sellers when it comes to having a home warranty. As reported by MarketWatch:

““A buyer’s home warranty benefits both buyers and sellers, as it helps the seller close the deal while providing the future homeowner with peace of mind that they’ll be covered if a system or appliance breaks down . . . Sometimes, a seller will pay for the first year of the home buyer’s warranty to sweeten the deal, but it depends on the real estate market.”
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— MarketWatch

If you're considering a home warranty for added peace of mind, you can rely on your agent. They can negotiate with the seller to see if they would be open to covering a home warranty for you. Keep in mind that the possibility of the seller including a home warranty depends on the conditions in your local real estate market.

So, Should I Buy New or Existing?

While new construction offers the advantage of requiring less upfront maintenance, there are certain benefits that existing homes provide which new homes cannot.

Existing homes offer a unique charm and character that new construction homes struggle to replicate. The quirks of an older home can make it feel extra cozy and welcoming. Additionally, established landscaping and a sense of community often make existing homes more inviting than new builds. Keep in mind, choosing new construction might require waiting for the home to be completed, depending on its construction stage. Your decision should ultimately reflect what matters most to you.

Bottom Line

If you're deciding between a new construction or a pre-owned home, consider a home warranty to address maintenance worries. Discuss your priorities with professionals to make an informed choice.