It just depends. Typically in our market the existing inventory is more affordable, but the upside of the new home construction is you don't have the expenses of maintenance issues. Your roof is new, your appliances are new, your furnace is new; all of those things start to go out typically in a 6-15 year old home. You have new, so you are paying a premium for that, but you are not going to have those expenses in the short term. There are definitely several different programs out there to help add remodeling costs into a mortgage price. FHA has a program you can add in the cost of those repairs and some conventional loan products will also allow you to add in the cost of many of those repairs.
