After the open house, we headed back to the new build to sit down and go over the pricing. The builder was going to "give" us the upgraded kitchen, morning room, and finished basement, but there were still other upgrades that we'd want.
Upgrading the elevation: $2000
Upgrading the kitchen cabinets to maple: $1,150
Upgrading to 42" cabinets: $700
Gas hookup for range: $250
Appliance upgrade: $600
Master Bath Upgrade: $2,990
Wood banister on stairs instead of halfwall: $350
Recessed kitchen lighting: $600
Rough-ins for overhead lights: $700
Premium lot: $3000
All the upgrades brought the price for the new build to around $30,000 more than the list price of the other house. Sure, we could afford it, but we still wouldn't get the perfect, finished home. We'd still want to upgrade the floors and countertops down the line. Then there would be the costs for landscaping, a deck, light fixtures, and blinds. I was a bit bummed that I couldn't get white cabinets in the kitchen. I really, really wanted white!
We took the price sheet home with us to mull things over, and then we decided to do things the super scientific way... we made a list of pros and cons.
When we were done, it was pretty clear that the pre-built home was the winner. The layout wasn't totally ideal, but the price was right. It needed updated, but they were updates we'd still have to do in the new build- floors, light fixtures, and such. The neighborhood was established and it had a better feel to us. We called our agent to set up another showing to take another look at the house before deciding whether or not to make an offer.