PHOENIX, AZ January 2014 – One concern about buying a Brand New Home is that “A Brand New Home is a lot more expensive than a Used or Resale Home!” If you only look at the sales price, a Brand New Home has a higher price than Used, but when you look at the total cost of ownership a totally different perspective is revealed.
Review By Type Of Sale
Ultimate analyzed the sale of homes which listed on the Arizona Regional MLS that were between 1,601 sqft and 2,000 sqft. The homes were broken down into three categories:
1. Distress sales of Used Homes
2. Traditional sales of Used Homes
3. Brand New Homes
A quick glance at the table below confirms that the average purchase price per square foot for a Brand New home is in fact higher than the average purchase price for a Used Home.
Another way to look at the data is the additional cost per sqft of a Brand New Home.
Here they converted this to monthly payment difference for a Brand New Home.
Why is a Brand New Home the best value?
It doesn’t take much to more than offset a larger monthly payment of $30 or even $160 when you are looking at the cost of ownership per month. Here are some of the offsets:
A typical Brand New Home’s electric usage will be about 60% less than that of a 20-30 year old home. If that home consumed $250 of energy per month, these saving alone far outweigh the monthly difference in payments with a traditional Used Home sale and offset the major portion of the difference in a Distress Home Sale.
The purchase of a typical home warranty is $360 per year which is $30 per month. When a Brand New Home is purchased a warranty is included at no additional cost.
A 20 year old home can easily cost you repair costs of over $2,000 per year. Your repair costs with a Brand New Home will be extremely low for the first 5 to 7 years.
Brand New Homes are NOT more Expensive than Traditional Used Homes
The answer to the question is clear if you take in to consideration energy savings, home warranty and repair costs that resale homes can bring.
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View all of the NEW HOMES for sale online
By visiting Arizona New Homes Sales at http://www.AZNHS.com Happy home hunting.