Posted by Bruce Borden in All, Home Buying

Updated December 2022

Buying a home is a thrilling and rewarding experience! Because we know you have a lot impacting your decision for your next home, we've compiled some helpful information to empower you with knowledge about new homes vs. used homes.

Here are the 6 things to know about buying a new construction home:

  1. 41% of homebuyers in 2022 chose to purchase a new home to avoid costly renovations and issues*
  2. It’s normal to have a lot of questions
  3. There are more tools now than ever before to help you find your dream home online
  4. Having a wants vs. needs list is vital
  5. You don’t have to build from the ground up to buy new
  6. There are financing options that can be customized for your needs
New Home in Minneapolis, MN

1. 41% of Homebuyers in 2022 Chose to Purchase a New Home to Avoid Costly Renovations and Issues*

For many homebuyers, owning a home is less daunting if it doesn't come with immediate additional costs or headaches. Knowing the builder and their building standards is a huge factor to be able to trust the quality of your home.

Being able to see what is behind the walls and find a home built to last the test of time was important to many buyers last year, along with the fact that a new-build home comes with all new appliances, paint, flooring, and everything else inside and outside of it!

Homeowners Moving Into New Home

2. It’s Normal to Have a Lot of Questions

M/I homeowners’ top piece of advice for others getting ready to buy a new home is to ask all the questions they have!

No question is a stupid question, and our New Home Consultants are armed with all the details about our construction standards, homes, communities, and the surrounding areas, so ask away during your community visit!

Couple Meeting With New Home Consultant at M/I Homes Model Home

3. There Are More Tools Now Than Ever Before to Help You Find Your Dream Home Online

We all appreciate technology and tools that make our lives easier, right? From model home virtual tours to interactive floorplans to homeowner testimonials and everything in between, it’s easier than ever before to find all the information you need to make that next step and contact a salesperson!

Learn about how to take your very own model home tour from the comfort of your couch!

4. Having a Wants Vs. Needs List Is Vital

This might be the close second in top recommendations from other new homebuyers. You see, throughout your new home floorplan selection and design process, you might dream up elements that would be nice in a home, but aren’t crucial to your family’s daily routine.

Owner's Bathroom With Soaking Tub and Two Vanities

Think about the morning to evening flow in your home now:

  • What spaces just aren’t big enough?
  • Which rooms are you constantly wishing had a different layout?
  • What headaches are you running into with storage? Lighting? Personal items?
  • Where do you wish you could have more room to entertain?
  • How would you organize better if you had the space?

These are the kinds of considerations that should inform your needs. If it’s just something that you’d eventually like to add, or it isn’t a dealbreaker for your lifestyle, make sure your wants stay separate (and optional).

5. You Don’t Have to Build from the Ground Up to Buy New

If you’re on a time crunch to get into your next home, there are many options available to purchase a Quick Move-In home, rather than build a home from the ground up.

Quick Move-In homes are homes that a homebuilder has listed for sale and are either ready to move into right away or are having the final touches completed and will be ready to move into very soon.

Finished New Construction Home

This makes it much easier to avoid a lengthy design process and get the keys in your hand faster, while still enjoying all the benefits of a never-before-lived-in home!

6. There Are Financing Options That Can Be Customized to Fit Your Needs

You may be wondering if a resale home is a cheaper route. While the initial price may be lower, many resale homes require updates at the very least, let alone repairs and appliance replacements.

Fortunately, you'll have the expertise of M/I Financial (MIF) to depend on—including custom-made credit repair plans, multiple loan types, competitive rates, and incentives—making purchasing a new home a reality!

Tap into insights from one of our highly experienced MIF branch managers about how much home you can afford.

Home Financing Options

If you’re ready to follow the advice of tip #2 and get started with your questions, you’ll find a friendly helper at the end of the other line when you reach out to one of our Internet Sales Managers.

We can’t wait to help you find your dream new home!

*Original survey data from The National Association of REALTORS® and can be found here.



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Bruce Borden

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Bruce has been with M/I Homes for over 20 years, has been the National Customer Experience Manager for over 10 years, and has been in the home building industry for over 30 years. Happily married and a proud father, Bruce enjoys outdoor activities and home improvement projects, and has never met someone he didn't like.

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