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You get a home warranty from the builder that will fix anything in the first [3] years.
On the flip side things are less likely to fail in an older home.
A1 is absolutely right, older homes I’ve bought are typically predictable remodel projects. New homes haven’t been battle tested. One building I bought had a roof leak, door bells not working to correct apartment, water coming in through a window, one flooded due to insufficient drainage on the roof, an under mount sink dropped, cracks in walls, broken tile, failing light fixtures, failed plugins, on demand water was too hot/too cold. The list was long initially. Then it tapers off. Fortunately my builder is awesome and responded quickly on my 1 year warranty.
Mentor
Depends on if you can find what you want in a house.
For us it was cheaper to build new than it was to find exactly what we want or to buy and renovate.
Mentor
It was likely a savings of about 300k or so for us but it really depends.
Buying land + building will usually always be cheaper however it will likely be more capital intensive and take longer than simply buying a house that’s already built and ready to go.
In my market we buy land and build Duplex properties that sell for 425K+ meanwhile our cost to build with land included is usually in the 275-325K range.
I agree. I build duplexes as well. In my market land plus build is about $390k. New duplex built a block from my current project just sold for $525k. You cannot find a 3BR/ 2BA home here for $200k so much better to build.