Study Finds Greater Savings in Buying New Homes Versus Older Homes

Buyers of newly built homes can save an average of $25,335 over 10 years compared to those purchasing 20-year-old homes, mainly due to lower utility costs and delayed replacement of major systems. Savings are higher in regions with stricter building codes and harsher climates. In some markets, these savings can offset the price premium of new homes, especially when considering builder warranties and mortgage rate buydowns.