Cost Comparison: Old vs New Homes

If you’re home shopping in the Savannah area, you’ll find a wide variety of homes on the market – from brand new luxury homes to century-old historic properties and everything in between.

Sales price is a major determining factor of course, but home buyers should also consider the cost of maintaining the home in the years to come.

Let’s say you have a budget of $300,000 to spend on your home purchase – what will your expenses look like after you move in to a new home versus an older one? Even if the older one is just 15 or 20 years old?

Here is a list of home maintenance projects that are common in older homes.

Repairs New Home Older Home
Roof Replacement $0 $5,000-$15,000
Replace Appliances $0 $3,000-$8,000
Replace Heating & Air System $0 $5,000-$15,000
Refinish Wood Floor $0 $2,000-$5,000
Replace Carpet $0 $1,000-$3,000
Replace Water Heater $0 $1,000-$2,000
Repaint Home Exterior $0 $2,000-$5,000

As you can see, you might spend the same amount to purchase a new home and an older home, but that older home could be much more expensive in the long-term. The average length of time American families stay in the same home is 12 years. How do you want to spend those 12 years? Financing repairs? Or enjoying your new home?

We think the choice is clear. We have several new homes already under construction in the Village at Autumn Lake, and new luxury townhomes being built in our Cottages at Autumn Lake. We’d love to give you a tour of our current homes, or you can choose your lot and your floor plan and we’ll take it from there.

Invest wisely. Come see our quality new homes at Autumn Lake in Savannah near the Berwick Village off Highway 17. Contact us today.