Thinking about a move in Locust Grove and wondering if a brand-new build or a resale home fits your plans better? You are not alone. Cost and timing are the two biggest drivers of this decision, and both can vary across Henry County. In this guide, you will learn the real cost factors, realistic timelines, and the tradeoffs that matter most for Locust Grove buyers. Let’s dive in.
Cost basics: new vs resale
New construction and resale homes are priced differently. With resale, you often negotiate on an existing home’s list price based on age, condition, and comparable sales. With new construction, the base price is a starting point. You may add a lot premium, options and upgrades, and possible site-prep costs before you reach your true out-the-door price.
In a seller market, resale homes can move quickly and command stronger prices. New builds can still be limited by lot supply and builder backlogs, which affects timing more than pricing. In a buyer-favorable market, resale prices and concessions may be more flexible, while new-home pricing may include incentives from builders.
Upfront purchase costs
- Earnest money vs deposits: Resale purchases typically require an earnest money deposit after you go under contract. New-construction contracts often use staged deposits at key points, like option selections or construction milestones.
- Closing costs: Expect roughly 2 to 5 percent of the purchase price for buyer closing costs. In some cases, resale sellers or builders offer credits, but it depends on the deal and incentives.
- Inspections and appraisal: Resale buyers usually pay for a home inspection and any specialty inspections they choose. New-construction buyers should still hire independent inspectors at key stages, such as pre-drywall and final.
- Lot premiums and site prep: New builds may include a premium for specific lots. Site work like grading or tree removal, and utility run lengths can add costs.
Upgrades and customization
A model home shows possibilities, not the base package. With new construction, the base price usually includes standard finishes and a basic lot. Common upgrades include flooring, kitchen and bath finishes, lighting, and appliances. Structural changes or lot-specific items, such as retaining walls on a sloped lot, can increase the total.
Builders may offer incentives, such as closing-cost credits or a package of upgraded finishes. Compare your total cost carefully: base price plus lot premium plus options and site work.
Maintenance and warranties
New construction tends to have lower immediate maintenance costs because major systems and appliances are new. Many builders provide a warranty that commonly includes a 1-year limited workmanship warranty, a 2-year systems warranty, and up to a 10-year structural warranty. Always review specific written warranty terms.
Resale homes come with state-required seller disclosures, but they may need near-term repairs or replacements. A thorough inspection helps you estimate what you might spend in the first 1 to 5 years.
Ongoing ownership costs
- Property taxes: A new home can change the assessed value and timing of future assessments. Check Henry County Tax Assessor guidance for how assessments and millage rates apply to new builds and recent sales.
- HOA fees: Many new communities have active HOAs. Early phases can include special assessments or higher fees for new amenities. Review the HOA budget and covenants before you commit.
- Insurance: Newer roofs and systems can sometimes reduce certain insurance costs. Location-specific risks, like wind or flood exposure, will still affect rates.
Financing differences
- Construction financing: If you build from the ground up, you may use a construction loan that is short-term and interest-only with draws during the build. It later converts to a permanent mortgage or is paid off with a new loan at closing. Construction financing can have higher initial costs and extra steps.
- Spec homes: A move-in-ready or near-complete new home often closes with a conventional mortgage timeline, similar to resale.
- Preferred lender incentives: Some builders offer credits if you use their preferred lender. Compare offers across lenders to make sure the total package is competitive.
- Rate environment: If rates are volatile, a longer build timeline adds rate risk. Talk with your lender about rate locks or strategies to manage timing.
- FHA/VA on new construction: Extra documentation and inspections may apply. Your lender will guide you through the requirements.
Timing: how long it takes in Locust Grove
Timelines vary by property type and builder backlog, and county permitting can add time before breaking ground. Here are common ranges:
- Resale purchase: About 30 to 60 days from contract to close, depending on financing and inspections.
- New construction spec home: Often 30 to 60 days if the home is complete and the builder can schedule closing quickly.
- New construction from the ground up: Typically 4 to 9 months for a production builder, subject to permit timing, weather, and materials. Custom builds can take 9 to 18 months or longer.
Permit review times are set by Henry County Building and Codes. Depending on staffing and volume, permitting can add weeks or months to your start date. Ask early about current turnaround times.
New construction milestones
- Lot selection and contract signing
- Deposit schedule and option selections
- Permitting and site work
- Foundation and framing
- Mechanical rough-ins and inspections
- Drywall and interior finishes
- Final inspections and certificate of occupancy
- Final walkthrough, punch list, and closing
Resale purchase milestones
- Offer and contract
- Inspections and repair negotiations
- Appraisal and loan underwriting
- Final walkthrough
- Closing and move-in
Key timing risks in Henry County
- Builder backlog: Even after you sign, your lot may be scheduled for construction months out.
- Supply and labor: Windows, appliances, or trade availability can shift timelines.
- Weather and site conditions: Rain, grading needs, rock, or tree removal can extend site work.
- Financing and inspections: Construction draws and lender inspections can add steps.
- Resale hurdles: Appraisal gaps, repair negotiations, or title issues can slow a closing, though most resolve within normal timelines.
Which path fits you
Choose new construction if you:
- Want modern layouts, energy-efficient systems, and the ability to personalize finishes.
- Prefer lower immediate maintenance and written builder warranties.
- Have flexibility on move-in timing and can manage potential build delays.
Choose resale if you:
- Need a predictable move-in window, such as before a job start or school year.
- Value established neighborhoods and mature landscaping.
- Want room to negotiate or buy below replacement cost, understanding potential repair needs.
Local next steps
- Get clear on total cost: Compare base price plus lot premium plus upgrades for new builds against resale price plus expected repairs or updates.
- Ask about HOA and taxes: Review HOA budgets and timing of Henry County assessments for both new and resale.
- Check timelines early: Ask builders about average time from contract to certificate of occupancy. For resale, confirm closing timelines with your lender.
- Line up inspections: Plan for independent inspections on both resale and new construction, including a pre-drywall inspection for new builds.
- Talk financing strategy: Compare construction-to-permanent options, conventional mortgages for spec homes, and any builder-lender incentives.
If you want local guidance tailored to your timing and budget, connect with The Legacy Real Estate Group. Our team knows the Henry County market and can help you compare real homes, real timelines, and real costs side by side so you can move with confidence.
Ready to take the next step? Get personalized advice, see active opportunities, and request your instant valuation with The Legacy Real Estate Group.
FAQs
How long does a new home build take in Locust Grove?
- Production builds commonly take 4 to 9 months from contract to move-in, depending on permitting, weather, builder backlog, and materials. Custom homes can take 9 to 18 months or more.
Is a new build always more expensive than resale?
- Not always. New homes often have higher base prices plus lot premiums and upgrades. Resales may need repairs or renovations. Compare total costs, not just list prices.
What upfront costs differ between new and resale?
- Resale typically uses one earnest money deposit. New builds often require staged deposits tied to selections or build stages. Closing costs run about 2 to 5 percent in both cases.
Should I get inspections on new construction?
- Yes. Independent inspections at key stages, like pre-drywall and final, help catch issues beyond the builder’s internal checks and protect your investment.
How do construction loans work for a new build?
- Construction loans are short-term, interest-only with draws as the home is built. They may convert to a permanent loan or be paid off with a new mortgage at closing. They can carry higher initial costs.
What warranties do builders typically provide?
- Many builders offer a 1-year workmanship warranty, a 2-year systems warranty, and up to a 10-year structural warranty. Always review the written warranty for exact terms.
What can slow a resale closing?
- Appraisal gaps, repair negotiations, or title issues can add days or weeks, but most resale transactions still close within typical 30 to 60 day windows.
