Benefits of a New Construction vs Existing Home

Should you buy a new construction or an existing home? We're discussing the pros of each.
Jan 04, 2023

Ready to dive into the housing market? There are plenty of choices - but between newly-built and preowned homes, which reigns supreme? One way to decide is by asking yourself: how custom do you want your living space be?

If modern layouts with open floor plans appeal to you (or if remote working has been on your mind lately), then new construction takes the cake. Not only can contractors build out a home office for that work-from-anywhere lifestyle, rooms in newer builds tend to be roomier than their resale counterparts.

So when it comes down to crunch time when choosing what kind of abode best suits you, remember these key points!

Benefits of a New Home

Customizable Floor Plan

Design your perfect home with a custom build! New construction homes already have contemporary designs featuring large bedrooms and bathrooms full of natural light - so if it's brightening up your space, look no further than newly built! With help from an experienced contractor, you can craft the exact layout that caters to both traditional and modern styles — plus any extra amenities like a work-from-home office or spacious rooms.

Personalization 

Not settling for builder grade may be the key to having your dream home! If you act fast and contact your builder early in construction, upgrading finishes can give that extra touch of personalization, making all the difference. It might come with a price tag, but it could be worth splurging if customizing makes it feel like "home."

Smart and Energy Efficient

Keep your utility bills in check with newer "smart" appliances, better insulation, and windows - the trifecta of energy efficiency! Button up your home to save yourself some cash on heating and cooling. Now that's smart living.

Low Maintenance

Living in a brand new home means you're one step ahead of the maintenance game. Enjoy long-term savings and predictability with appliances, HVAC system, and roof all running like clockwork - no surprise costs here!

Builder Warranty

Enjoy years of new home bliss with a warranty that keeps components spick-and-span. And in the unlikely event problems pop up, you'll be covered!

Flexible move-in

If you're looking for a new home but don't need to move in ASAP, consider buying one still under construction. You might just have the perfect opportunity - less competition and all the time needed to get 'er done! Plus, who doesn't love seeing their dream house come alive?

Benefits of an Existing Home

Move-in Ready

With a traditional move-in, you can expect to be able to pick up the keys and start settling in without any major delays. Unless you're upgrading your new home with some creative renovations, keep an eye out for potential surprises!

Established Neighborhood

Established neighborhoods offer an undeniable charm. Lush, towering trees and well-groomed landscapes transform the streetscape while adding a cozy touch to your neighbors' yards -- simply perfect for enjoying summer afternoons!

Classic Design Elements

Older homes are a treasure trove of charm and character - from priceless architectural details that you can't replicate, to their captivating stories that become yours when you move in. So if a home with history is on your list, don't let it pass by!

Fewer Design Decisions 

Instead of starting from scratch, you can give a fixer-upper the ultimate makeover. With an existing abode as your canvas, all it takes is some creative decisions and elbow grease to turn it into your dream home!

✅ Benefits of Contract Loan Processing for VA Loans

  1. Specialized VA Knowledge

    • VA loans have unique requirements (COE, residual income, funding fee calculations, appraisal requirements).

    • A contract processor experienced in VA loans can spot potential issues early and streamline the process.

  2. Cost Savings for Lenders

    • No need to hire full-time staff; processors are paid per file.

    • Helps smaller brokerages or lenders manage fluctuating loan volumes without carrying extra payroll.

  3. Faster Turn Times

    • Contract processors often work remotely and are paid per closed file, so they’re incentivized to move loans quickly.

    • They can push COE requests, follow up on VA appraisals, and ensure VA-specific forms (26-1880, 26-8923) are completed on time.

  4. Compliance & Accuracy

    • VA has strict guidelines (e.g., allowable fees, seller concessions, and veteran protections).

    • A skilled processor reduces risk of compliance errors that could lead to loan buybacks or funding delays.

  5. Scalability

    • During high volume seasons (e.g., rate drops, PCS military moves), lenders can bring on extra processors quickly without long-term HR commitments.

  6. Reduced Loan Officer Burden

    • Lets LOs focus on originating, networking, and serving clients while the processor handles gathering DD-214s, income docs, pest inspection reports (if required), and underwriting conditions.

  7. Improved Borrower Experience

    • Veterans and active-duty borrowers often value clear communication and speed.

    • A processor who knows the VA process can anticipate documentation needs and prevent last-minute surprises.


👉 In short: Contract processors help lenders stay lean, compliant, and efficient, while ensuring veterans have a smoother experience.