Buying a New Home vs Buying a Resale

Jul 27, 2018

There are plenty of options when looking to become a homeowner. A critical decision that families have to make is whether to buy a new home or a used one. Buyers will need to consider what they can and can’t live without when making this choice. Can an older home meet the needs of today’s modern family? What are the cost differences and how do I logically evaluate them? Take these tips into consideration when deciding to buy your Chicago suburban home.

Buying Resale Advantages

  • Some areas are sought after because they are established… grown trees, completed homes, no construction.  And if the home they find is in the school district they desire, it could meet their needs without needing to spend the time building.

  • Some buyers are looking for the vintage style that new homes do not offer due to changing styles and trends.  If buyers are looking for a certain “era” look, they can duplicate it with new home construction, but the feel will definitely be different. Unique historical floor plans may be hard to duplicate, window styles, trim styles and other unique factors may no longer be popular or available.

  • A popular assumption is that there is more wiggle room for negotiation when purchasing a used home. Depending on the market and the previous owners’ maintenance of the house, buying resale may be cheaper than buying a new house. However, buyers must factor in costs of any updates or renovations such as kitchen appliances, flooring, and plumbing that most likely will need to be replaced.

Buying New Advantages

  • Buying a home from a trusted builder is a huge factor when looking to purchase a home. Collectively the Overstreet staff shares more than 120 years of experience in the home building industry, providing you with some of the most extensive knowledge to pull from in the industry to construct your family’s home with the precision and excellence you deserve. Visit our testimonials page to read what our Overstreet homeowners are saying about us!

  • When you build new, your home is ensured to pass all current codes and regulations.  Even homes that are 3 and 5 years old have outdated features in them possibly down to insulation practices.  A new home gives you the piece of mind that your home is in line with the standards that are set by your state, city and community.
  • A huge advantage of building new is that you have inspections as your home is going up and a warranty program after you move in.  This is huge for a new homeowner.  Do you want to live in a project or a home?  Used homes often come with time and monetary sacrifices.  Your new home warranty from Overstreet gives you the piece of mind that if something were to go wrong that you have Overstreet to back you up and also product warranties … many that extend many years down the road.  Most used home warranties are non-transferable, which means you are stuck dealing with problems as they come up.
  • Ownership is a big deal!  You make the selections from day one.  Color choices from paint to cabinets, countertops to flooring, trims, hardware, layout… it’s all yours.  You don’t have to try and make someone else’s home yours through refinishing and remodeling.  You don’t have to worry about cat hair hidden in the fibers of the carpet or worse.. in the duct work.  The home is fresh and new – with that “new home smell”.
  • Curb appeal and a sense of community are the traits homeowners are interested in deciding to buy. Luckily, our Overstreet communities are scattered throughout the coveted Chicago Suburbs of Elgin, Naperville, and Arlington Heights.  They’re also home to some of the highest rated school districts in Chicago. Schedule your tour of the fully furnished models in our  Hidden Creek and Highland Woods communities.

  • Today’s new home builders offer a variety of custom plans that suits your entire families needs. Overstreet Builders offers an impressive list of floor plans to help you find the perfect custom home. Learn more about the standard features and amenities included in Overstreet homes.

Don’t see your ideal plan? No problem! Overstreet Builders is happy to offer custom homes in a majority of our communities! Starting from the mid $300’s, you could build your dream home in the picturesque community of Graystone at Highland Woods.

Have you purchased your own land and would like to build a house on it? We at Overstreet Builders realize that our featured subdivisions may not fit your needs or suit your lifestyle. For this reason, we offer our services to build the house that you want on the land that you want. Overstreet Builders has the ability to expand your choices for home locations by offering a variety of options for offsite construction. For more information on your choices in offsite construction, please contact an Overstreet Builders representative at (630) 226-0460.