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New vs. Used Home Calculator

Could a Brand-New Home Actually Cost Less?

Purchase price alone does not tell the whole story. Compare the payment, utilities, maintenance, repairs, insurance, warranties, and other costs that shape what a home may really cost each month.

Compare My Cost Free to use. No obligation.
Attractive established home with mature landscaping
USED HOMEEstablished comfort
Attractive brand-new home with fresh landscaping
BRAND-NEW HOMENew-home advantages

Your side-by-side comparison

Compare the costs that matter

Start with the basics. The estimates update as soon as you change a number.

USED HOME

Used Home

Change any number below.

Down payment (%)%Estimated down payment: $15,000
BRAND-NEW HOME

Brand-New Home

Change any number below.

Down payment (%)%Estimated down payment: $16,250

Your result

See the bigger picture

The main takeaway

The brand-new home costs $25,000 more, but its estimated total monthly cost is $253 less.

The lowest sticker price is not always the lowest cost of ownership.
Used-home estimated monthly total$2,965per month
Brand-new-home estimated monthly total$2,712per month

Estimated monthly savings with the brand-new home

$253
Monthly difference$253
Annual difference$3,035
Five-year difference$15,176

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See Detailed Cost Breakdown +

Automatic monthly payment breakdown

Monthly costUsed HomeBrand-New Home
Principal and interest$1,830$1,982
Property taxesAuto$350$379
Mortgage insuranceAuto$185$201
Homeowners insuranceAuto$210$100Save $110each month
Heating and coolingAuto$140$50Save $90each month
Repair reserveAuto$250$0Save $250each month
Total monthly cost$2,965$2,712You save $253every month!
How the automatic numbers are estimated
  • Current interest rates: used home 6.65% and brand-new home 6.65%. Change the new-home rate only when a builder or lender confirms a rate buydown.
  • Current property-tax estimates: used home $350 per month and brand-new home $379 per month. These update with each home price.
  • Current mortgage-insurance estimates: used home $185 per month and brand-new home $201 per month. These update with the loan amount and down payment.
  • Current homeowners-insurance estimates: used home $210 per month and brand-new home $100 per month. These update with each home price.
  • Current heating and cooling estimates: used home $140 per month and brand-new home $50 per month. These update with square footage and do not represent the full utility bill.
  • Current repair reserves: used home $250 per month and brand-new home $0 per month. The used-home amount updates with price.

The insurance numbers are starting estimates based on a working new-home sales comparison. Replace them with a written insurance quote when available. Interest-rate source: Freddie Mac.

Do not stop at the payment

What can change at closing?

Used Home

Inspection items must be negotiated

The seller may repair an item, give a credit, lower the price, or say no. The buyer may still have repair costs after closing.

Brand-New Home

New systems can lower risk

New roofs, wiring, plumbing, and building systems can lower insurance risk. A builder may also offer a lower rate, pay some closing costs, and correct covered inspection items before closing. Confirm every offer in writing.

These are automatic starting estimates for comparison and education. Actual loan payments, insurance, taxes, heating and cooling, repairs, incentives, warranties, and qualification will vary. Replace estimates with written quotes when available.

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Free to use. No obligation.

Buyer Insights

Why Compare Total Monthly Cost?

Explore the costs buyers can miss, then return to your comparison anytime.

View All Insights →
01

The Purchase Price Doesn't Tell the Whole Story

See why the price on the listing is only one part of what you may spend.

Read Insight →02

How Insurance, Heating, Cooling and Repairs Change What a Home Really Costs

Learn how everyday ownership costs can change the monthly picture.

Read Insight →03

Why the Lowest Sticker Price Isn't Always the Least Expensive Home

Compare the price you see with the cost you may actually carry.

Read Insight →

What Is a Brand-New Home?

A brand-new home has not been lived in before. It may have newer building materials, energy-saving features, and a builder warranty. Features and warranties vary by builder.

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