Home Maintenance Costs: What to Expect from New and Existing Homes

Evaluating Maintenance and Warranties for Your Next Home

If you’re hesitant about buying a home due to maintenance concerns, here’s some intriguing info that might ease your mind.

Newly Built Homes: Low Maintenance, High Benefits

Considering a newly built home? It could significantly reduce your maintenance worries. With everything brand new, there’s less chance of repairs. LendingTree notes,

“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.”

Plus, new homes often come with warranties covering major systems for a couple of years. First American states,

“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.”

Existing Homes: Charm with Potential Perks

Don’t count out existing homes just yet. They too can come with warranties, either negotiated through the seller or purchased separately. According to Forbes,

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

MarketWatch adds,

“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.”

Existing homes also bring character, charm, and a well-established community feel that new homes may lack. Mature landscaping and unique quirks make them cozy and inviting.

Deciding Factor: What Suits You Best?

Choosing between a newly built or an existing home boils down to your personal priorities. New homes offer less immediate maintenance, while existing homes provide character and community.

Bottom Line

Both options have their perks, and a home warranty can ease maintenance concerns for either choice. To make the best decision for your needs, consult with real estate professionals.