Should You Choose a New Home or Existing Home in Metro DC?

Even if you’ve already made your Metro DC homebuyer wish list—detailing everything you want in a property from number of bedrooms to outdoor space—you may not have considered the age of the home itself. Should you choose a new construction home that includes the items on your wish list? Or should you go with an existing property in Washington DC, Bethesda, Chevy Chase, or NoVA that you can make your own?

Before you begin house-hunting, you should be prepared to answer these questions and as your local real estate experts in the DC Metro, we are including a few points below that can help you decide!

New Home Pros

  • You’ll be the first to live in the house.
  • Appliances are brand-new and covered by warranties.
  • Appliances, roofing, and major household systems like HVAC will have years before they need to be replaced.
  • New homes will have the latest energy-efficient and safety features.

New Home Cons

  • A new home will generally cost more per square foot.
  • If customizing your home, you may have to compromise on choices like cabinets and flooring due to budget.

Existing Home Pros

  • Existing homes generally cost less per square foot and give the homeowner more value for their money.
  • You can channel the price difference into renovations and upgrades.
  • Move-in dates tend to be quicker than homes that need to be customized or finished.
  • Existing homes already have appliances, landscaping and features included— you don’t need to choose prior to move-in.

Existing Home Cons

  • Appliances and major systems can be older and in need of repair when you purchase the home.
  • The home may have had multiple owners.
  • Existing homes, depending on age, may have electrical or plumbing that is not up to current standards.
  • Renovations can uncover damage from previous years and owners.

Have an idea of which type of home you’d like to purchase this year? Need a little more assistance with your decision? We’re here to help!

Give The Estridge Group a call today!