When choosing between purchasing a new or existing home, it often comes down to two things: price and amenities.

New homes often cost more but have more amenities. Meanwhile, existing homes cost less, but have few features.

“It all depends on what you can afford and what you qualify for,” said Lisa Ramler, president of the Lawrence Board of Realtors and a realtor with Hedges Real Estate Realty Executives in Lawrence. “The cost to build today is more because land and supply costs more.”

Although Lawrence is a great market for both new and existing homes, Ramler says she sells more existing homes than new homes. And the reason is simple.

“We have more existing homes than new,” she said. “There isn’t as much new construction out here.”

Although they are more scarce, there are several up sides for buying a new home.

For example, with a new home, you have the option of deciding what to add to your homes. Those who choose to purchase a new home over an existing home do so because everything in the house is new,

“You feel that you have a warranty, so you shouldn’t have to replace anything,” Ramler said. “You feel more secure that if something goes wrong in your first year, you feel that you’re covered.”

However, there are some drawbacks. For example, new homes are most often being built in areas that are just being developed. So if you buy a new home, you’ll most often have to provide for a yard and install landscaping, such as trees, bushes and garden areas.

Existing homes do have perks, too — and landscaping is one of them.

Existing homes are usually in an established neighborhood with trees, neighbors and schools nearby.
And with existing homes, buyers know what they are getting into, Ramler said.

But because existing homes are older, they might require more maintenance and repair work.

So in the end, which is better?

It all depends on the buyers’ individual preferences, Ramler said.