Worried About Home Maintenance Costs? Consider This

If one of the main reasons you’re hesitant to buy a home is because you’re worried about the upkeep, here’s some information you may find interesting on both new home construction and existing homes (a home that’s been lived in by a previous owner).

Newly Built Homes Need Less Upfront Maintenance

If you can afford it, you may find a newly built home could help ease your worries about maintenance costs. Think about it, if everything in the house is brand new, it won’t have the wear and tear you may see in an existing home – and that means it’s less likely to need repairs. As LendingTree says:

“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, many builders also have warranties on their homes that would cover some of the more major expenses that could pop up. As First American explains:

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 Can Still Have Great Perks

But it’s worth mentioning, that it’s not just newly built homes that can have warranties. It’s an option for existing homes too.

Your agent may be able to help you negotiate with the seller to add one as a concession on your contract. But you should know that not all sellers will be willing to do that. If they won’t, you could purchase one yourself, if you’d like to. An article from Forbes explains:

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

And there are benefits for both parties when it comes to a home warranty. According to MarketWatch:

“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 . . . Sometimes, a seller will pay for the first year of the home buyer’s warranty to sweeten the deal, but it depends on the real estate market.”

If you’re interested in a home warranty for peace of mind, lean on your agent. They’ll negotiate on your behalf to see if a seller would be willing to cover one for you. Just remember, the likelihood of a seller throwing one in depends on conditions in your local market.

So, Should I Buy New or Existing?

While the need for less upfront maintenance is a great perk for new construction, there are some things a newly built home can’t provide that an existing home can.

For example, existing homes have a lot of character and charm that’s difficult to reproduce. The quirks that come with an older home may make it feel more homey. And, existing homes usually have more developed landscaping and a well-established sense of community. So, it can feel more inviting than something that’s a blank slate, like new construction often is. Not to mention, if you go with new construction, you may have to wait for the home to finish being built based on where it is in the process. It all depends on what’s most important to you.

Bottom Line

Whether you choose a newly built or an existing home, you may be able to ease some of your concerns over maintenance with a home warranty. To weigh your options and go over what’s the top priority for you, talk to the professionals.

83 Properties
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$625,000
Neighborhood: Warm Mineral Spgs
11
Beds
10
Baths
2,550
Sq.Ft.
1968
Year Built
1
Day on Site
N6133391
MLS
$539,900
Neighborhood: Port Charlotte Sec 071
3
Beds
2
Baths
1,705
Sq.Ft.
2023
Year Built
1
Day on Site
D6136998
MLS
$675,000
Neighborhood: Rotonda West Broadmoor
4
Beds
3
Baths
2,420
Sq.Ft.
2006
Year Built
2
Days on Site
N6129431
MLS
$544,900
Neighborhood: Port Charlotte Sec 072
3
Beds
2
Baths
1,098
Sq.Ft.
2024
Year Built
3
Days on Site
C7494053
MLS
$749,999
Neighborhood: Hrbr Heights
4
Beds
3
Baths
2,629
Sq.Ft.
2002
Year Built
3
Days on Site
C7493333
MLS
$650,000
Neighborhood: Port Charlotte Sec 043
3
Beds
2
Baths
1,559
Sq.Ft.
1971
Year Built
4
Days on Site
C7493878
MLS
$729,500
Neighborhood: Punta Gorda Isles Sec 17
3
Beds
2
Baths
1,767
Sq.Ft.
1980
Year Built
5
Days on Site
C7493872
MLS
$599,900
Neighborhood: Port Charlotte Sec 58
3
Beds
2
Baths
2,085
Sq.Ft.
2024
Year Built
5
Days on Site
C7493823
MLS
Open 6/15
9203 Griggs Rd #304 Englewood,  FL 34224
$825,000
Neighborhood: Grande Preserve On Lemon Bay P
3
Beds
2F11/2
Baths
2,028
Sq.Ft.
2005
Year Built
6
Days on Site
C7492853
MLS
$544,900
Neighborhood: Port Charlotte Sec 072
6
Beds
4
Baths
1,098
Sq.Ft.
2024
Year Built
7
Days on Site
C7493889
MLS
$875,000
Neighborhood: Port Charlotte Sec 049
3
Beds
2
Baths
1,872
Sq.Ft.
1996
Year Built
15
Days on Site
N6133064
MLS
Open 6/15
17926 Grand Prosperity Dr Venice,  FL 34293
$635,000
Neighborhood: Sunstone Village F5 Ph 1A & 1B
3
Beds
2
Baths
2,005
Sq.Ft.
2023
Year Built
16
Days on Site
C7493181
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