Home buyers’ decision to buy a house involves answering many questions about what they want in a property. A basic division of residential real estate in Ontario is the separation between new-construction homes and resale homes. Both have their advantages and disadvantages, in terms of costs, features, customizations, and aesthetics. That said, there has been a shift in the past few years towards resale homes rather than buying newly built homes in large part because of their affordability.

Here is a glimpse into new construction homes v. resale homes, and why a buyer may choose one over the other.

Not sure if a new construction home suits your needs and lifestyle? Click here to read our blog about these types of homes and how they suit certain homeowners.

Newly Built Home Pros

The primary advantage of a newly built home is that everything is new and modern, from the construction itself to the layout, appliances, and design. If you get in on the ground floor of the development, you can also customize your new construction the way you want, selecting paint, carpet, tile, cabinetry for the kitchen and bathroom, and more.

Speaking generally, new homes are better insulated and can be more energy-efficient as well as are more likely to incorporate home technology. Plus, many new constructions come with warranties that can provide peace of mind in case there’s anything wrong post-sale.

Newly Built Home Cons

A newly built home is the most expensive type of residential real estate there is, in a lot of cases. With interest rates, cost of living, and inflation all being a concern among first-time home buyers a new construction doesn’t make sense.

Closing costs are often higher, with additional costs that you wouldn’t pay for if you settled on a resale home. So. you may have to wait to move in and/or will move in and are more likely to have construction occurring around you.

Resale Home Pros

 A resale home is always going to be a way more affordable real estate buy than a new construction.

You also have a fairly strong idea of the neighbourhood and your neighbours. There is a feeling of permanence with a resale home and you already have all the home’s features installed, working, and in good condition. Many times, these neighbourhoods are in established areas and are well-connected to the city grid, as opposed to being more secluded.

Resale Home Cons

A resale home is not going to have the latest styles, trends, and designs encompassed in its layout or aesthetic, however, as its new owner, this does give you the opportunity to decide for yourself how you wish to style the space.

The plumbing, electrical, and HVAC systems are older, of course, however, if there are any issues, they can be identified in a home inspection.

Resale homes in Toronto areas like Etobicoke tend to cost less, boast a stronger location, and have more amenities accessible to them. As a homeowner, you also still have the chance to add your own style, features, and updates as you desire, and aren’t confined to the limitations of a new build. Browse resale homes for sale in Etobicoke with Adrian + Andrea to find a property based on your needs and wants.

Speak to the experts at Adrian + Andrea by emailing info@adrianandrea.com or call (416) 319-6893 to see the best homes for sale in South Etobicoke and to discuss what’s possible.