This is a question of taste, time, finances and many more diverse criteria. A newly built home will most likely come with some form of home owners warranty. If something break in the first year or so the developer will fix defects at his own expense. So there is a certain peace of mind that goes with buying a new home. On the other hand there are a lot of things that can and will go wrong with a new house and until these kinks are ironed out you will have to deal with workmen at your new home.

New homes will sell at a premium versus older homes. If the developer is on top of things new homes will offer the latest in design and materials and technology. And you will pay for all of that. Since the home itself is most likely a depreciating asset and the ground it sits on is the appreciating asset you are looking at a higher rate of depreciation for a new home since you are starting at a higher per square-foot price level.

A resale home will have some wear and tear and appliances and technical equipment will not be the latest models and newest technologies. This should be reflected in the purchase price. If you like to remodel the home and upgrade to match your taste this might be the way to go. The cost savings versus buying a new home will go a long way towards changing the older home to your liking.

Sometimes though a resale home will be functionally obsolete. The room layout is weird, the room hight is not what it is nowadays. The basement has low sealings....... the potential list is endless. Before deciding on a resell home make sure you can change it to match most of what you would like to have in your “new” home. If it can be changed at a reasonable expense you might be on to a winner.