
"On average, U.S. buyers who choose a new home end up with $25,335 in savings over the course of 10 years. That chunk of change could offset the higher price tag of a newly built home, even if it doesn't show up as up-front savings. The hidden savings tied to buying a newer home can mostly be attributed to two major factors: energy costs and new systems that don't require maintenance or upgrades out of the gate."
""Homeownership is not a onetime expense, and the ongoing costs of owning a home are where new construction really shines," Joel Berner, senior economist at Realtor.com, said. "Buyers who focus only on the listing price are missing a significant part of the financial picture.""
"Older homes are much more likely to have drafty rooms that allow warm or cool air to escape, a phenomenon that adds up considerably when it comes to paying the bills. The same goes for older windows, which are more likely to have air leaks and single-pane designs that aren't as effective at maintaining a controlled climate compared to the insulating boost from modern multipaned glass."
"Preexisting homes are also much more likely to come with aging cooling and heating systems that lack the efficiency of more modern systems. If an HVAC system, a water heater, or even a roof requires an upgrade a few years after buying, that's one more hidden cost on top of a home's asking price."
U.S. buyers who choose newly built homes average $25,335 in savings over the first 10 years of homeownership. These savings can help offset higher purchase prices even when they do not appear as upfront discounts. Lower energy costs are a major driver, since older homes are more likely to have drafty rooms, air leaks, and single-pane windows that reduce climate control efficiency. Newer homes also tend to include systems that require less immediate maintenance or upgrades, including more efficient heating and cooling, water heaters, and roofs. Ongoing ownership costs therefore favor newer construction, and the size of the benefit varies by region.
#homeownership-costs #new-construction #energy-efficiency #real-estate-economics #regional-housing-markets
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