Lower Operating Costs Mean New-Home Buyers Can Afford More House

During New Homes Month in April, the National Association of Home Builders (NAHB) is showing home buyers why they can afford a higher-priced home--if it's new construction. Using data from the Census Bureau and Department of Housing and Urban Development's 2011 American Housing Survey, NAHB found that buyers can purchase a more expensive newer home and achieve the same annual operating costs as an older, existing home. 

"Home buyers need to look beyond the initial sales price when considering whether to buy new construction or an existing home," said NAHB Chairman Rick Judson, a home builder from Charlotte, N.C. "They will find that with the higher costs of operating an older home, they can often afford to spend more to buy a new home and still have annual operating costs that fit their budget."