Are New Homes Cheaper than Resale Homes?
Yes. Here’s why…
New homes are equipped with many energy efficient features. Radiant barriers and wall insulation help keep the summer sun from penetrating the roof and walls. New in Florida are now built with double pane windows, helping keep the home cool. Energy efficient air conditioners, kitchen appliances and water heaters all help in lowering electric bills.
Since everything is new there is a huge savings on homeowner’s insurance. The insurance companies know that there won’t be plumbing and electric issues for years to come, and there will be no need for a roof for probably 20 years.
Additionally, typical homeowner repairs won’t be necessary for many years. The kitchen appliances are all under the manufacturer’s warranty, as is the water heater, air conditioner garage door opener, etc. The builder usually provides a 10 to 20 year warranty as well.
Since the home is new, asthetic updates probably won’t be warranted for many years. All in all, a new home saves you money for years and years!
A new home saves an average of $430/month:
- $80/month savings on electricity
- $250/month savings on repairs for the first 15 years
- $100/month savings on homeowner’s insurance