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Which is Better?
Although new homes typically have a higher sales price than comparable existing homes, buyers are willing to spend more upfront with an understanding that part of what they are paying for is assured low maintenance costs. A builder's warranty, along with brand-new roof, appliances, furnace and other operating systems that make major repairs unnecessary, work together to counteract possible slower appreciation initially. Data from the U.S. Census Bureau's 1991 American Housing Survey suggest that operating costs per house are lowest for brand-new homes, slightly higher for relatively new existing homes but lower on average for older existing homes. Measured per square foot of living space, however, operating costs are consistently higher for progressively older existing homes.
Utility costs are the largest component of operating costs. Energy consumption per square foot depends on size of the home, insulation, window quality, air leakage and efficiency of the furnace. Operating costs also include expenditures for both routine maintenance and major repairs.
Need More Information?
Can we assist you in planning and purchasing your new home? The members of The Ashburn Group are active members of the Greater Columbia Homebuilders Association and have worked with most of the builders in Columbia. We know their weaknesses and strengths and can advise you which builder will most closely meet your specific needs.
Further, we maintain a database of new construction in the Midlands, and can find homes that are already built, simply awaiting your personalization and final touches. Either way, Tom Ashburn, Trish Davidson and Jim & Mary Culp can help you in your new home purchase.
Just tell us what you need and we'll get started!
