New Construction vs. Resale: What Central Florida Buyers Need to Know
By Maite Martinez, Coldwell Banker Real Estate Agent & Winter Park Market Specialist
The Central Florida Housing Dilemma
Last week, I sat with a couple at a café on Park Avenue, watching them wrestle with what I call “the big decision.” Like many buyers in our area, they were torn between a charming 1940s bungalow in Winter Park and a gleaming new build in Lake Nona.
“We love the character of the older home,” the wife told me, “but the peace of mind with new construction is tempting.”
It’s a conversation I have almost daily here in Central Florida. Our market is unique – a fascinating blend of historic charm and rapid new development. Winter Park alone tells this story in microcosm, with its median sale price of $715,000 and the interesting fact that 62% of homes here sell below asking price.
Let’s cut through the noise and look at what really matters when choosing between new construction and resale properties in our corner of Florida.
The Money Question: What Will It Really Cost You?
New Construction: The Full Financial Picture
The sticker price on new builds (averaging $880,000 in Winter Park) only tells part of the story. When I toured Ravaudage with clients last month, we discovered that the base price was just the beginning – lot premiums and design center upgrades quickly added another $75,000.
But there’s a silver lining. Many builders are offering substantial incentives right now:
- Rate buy-downs that can save you thousands in interest
- Closing cost assistance (I recently negotiated $15,000 for a first-time buyer)
- Design center credits to offset those tempting upgrades
The long-term math often favors new construction. Modern HVAC systems and superior insulation can reduce utility bills by 30-50% compared to homes built before 2000. One of my clients in Baldwin Park saw their summer electric bill drop from $350 to $180 after moving from a 1980s Winter Park home to new construction.
Insurance companies have noticed too. In a state where insurance rates are making headlines, new builds often qualify for significant premium discounts due to their hurricane-resistant features and updated electrical systems.
Resale Homes: Hidden Costs and Opportunities
The $469,000 median price for a 3-bedroom Winter Park resale home might look like a bargain compared to new construction. And often, it is! But as I tell my clients: bring your imagination – and your inspector.
Last year, I helped a family purchase a charming 1960s home off Temple Drive. The price was right, but we negotiated another $25,000 off after the inspection revealed the roof had only 2-3 years of life left. That knowledge helped them budget properly and avoid a surprise expense.
Tax dynamics also favor resale in the short term. Older homes typically have lower assessed values, though they will adjust after your purchase. Still, I’ve seen differences of $2,000-3,000 annually in property taxes between comparable new and resale properties.
Here’s how the numbers typically break down:
| Factor | New Construction | Resale Homes |
|---|---|---|
| Upfront Cost | Higher ($880K avg.) | Lower ($469K median) |
| Maintenance | Minimal (0-5 years) | Immediate repairs likely |
| Energy Efficiency | 30-50% savings | Varies (older systems) |
| Insurance | Lower premiums | Higher premiums |
Beyond Dollars: The Lifestyle Question
New Construction: Design Your Dream
“I never thought I’d care so much about outlet placement,” a client told me while we walked through her semi-custom home being built in Winter Park. She was right – the ability to tailor your environment shouldn’t be underestimated.
New construction buyers in Central Florida enjoy:
- Floor plans designed for modern living (open concepts, larger closets)
- The latest smart home technology built-in, not retrofitted
- Energy-efficient appliances and systems
The demand for customizable space has grown substantially – Winter Park has seen a 27.1% surge in demand for 5-bedroom homes as buyers seek dedicated offices and multi-generational living arrangements.
Resale Charm: Character You Can’t Build
There’s something magical about a home with history. The oak-lined streets of Winter Park’s established neighborhoods offer a sense of place that no new development can match.
I recently sold a 1930s Mediterranean revival home where the grandchildren of the original owners stopped by during the open house to share stories about the property. That kind of connection doesn’t come with fresh drywall.
Winter Park’s 32789 ZIP code remains especially sought-after, with inventory 50% below pre-pandemic levels. When these homes hit the market, they don’t last long – particularly those within walking distance of Park Avenue.
Community & Lifestyle: What’s Your Daily Life Look Like?
Your home extends beyond your property lines. This consideration often tips the scales for my clients.
New Developments: Amenities Galore
Master-planned communities in areas like Horizon West and Lake Nona offer resort-style living with:
- Community pools and fitness centers
- Walking trails and parks
- Planned events that create instant social connections
Last month, I watched a family decide on a new build in Winter Park’s Ravaudage development specifically because their children could walk to the community pool and make friends immediately.
The trade-off? Construction noise and a neighborhood that might feel like a work in progress for a few years.
Established Neighborhoods: Mature Community Fabric
Winter Park’s charm isn’t just architectural – it’s social. When you buy a resale home in an established neighborhood, you’re buying into a community with:
- Mature landscaping and tree canopy
- Walkable access to established shops and restaurants
- Neighbors who’ve created traditions and connections
I’ve had clients specifically seek out Winter Park’s College Quarter neighborhood because they wanted to be part of the legendary block parties and neighborhood traditions that have evolved over decades.
Timing & Inventory: When Do You Need To Move?
New Construction: The Waiting Game
If flexibility is your middle name, new construction might be your match. Current builds in Winter Park are averaging 63 days on the market before going under contract – and that’s before the actual construction timeline.
I always tell my clients to add at least 2-3 months to whatever timeline the builder provides. Supply chain issues have improved since 2022, but they haven’t disappeared entirely.
Resale Homes: Speed and Competition
Need to move quickly? Resale is typically your better bet, with an average of 46 days from contract to closing in Winter Park. However, be prepared for competition – we’ve seen a 39.5% month-over-month decline in sold homes, signaling tightening inventory.
Here’s an insider tip: Winter Park’s 5-bedroom homes have actually increased 19% in inventory. For buyers needing more space, this is a rare pocket of opportunity in an otherwise tight market.
Risk Management: Protecting Your Investment
New Construction Warranties
One of the most compelling arguments for new construction is peace of mind. Most builders offer:
- 1-year comprehensive coverage
- 2-year systems coverage
- 10-year structural warranty
When my client’s new home in Baldwin Park developed a small plumbing issue six months after closing, the builder sent someone the next day – at no cost.
Resale Inspections: Your Best Protection
With resale homes, thorough inspections are your warranty. I always recommend:
- Comprehensive home inspection
- Separate roof inspection (especially crucial with our Florida weather)
- HVAC evaluation by a specialist
The 22.1% year-over-year rise in listing age for Winter Park resales gives buyers more leverage to request repairs or credits based on inspection findings.
Winter Park’s Unique Market Trends
As someone who specializes in Winter Park real estate, I’ve noticed some fascinating patterns:
- Price Dynamics: While 3-bedroom homes have increased 2.8% year-over-year, the overall median price has actually dipped 3.7% – creating opportunities in specific segments.
- Cash Competition Cooling: We’ve seen a 40% drop in cash buyers in some months, opening doors for buyers using conventional financing.
- Insurance Impact: Rising premiums are affecting affordability calculations, especially for older homes with outdated electrical or plumbing systems.
Making Your Decision: A Framework
After helping hundreds of Central Florida buyers navigate this choice, I’ve developed a simple framework:
- Budget Priority: Choose new construction if long-term savings matter most; resale for upfront affordability.
- Lifestyle Needs: Urban convenience and established communities point to resale; modern amenities and customization suggest new.
- Investment Goals: New constructions in master-planned areas tend to appreciate differently than resale in high-demand zones like 32789.
Your Next Steps in Central Florida’s Housing Journey
Winter Park’s market remains uniquely positioned with just 447 homes available, creating a delicate balance of challenge and opportunity for buyers.
Whether you’re drawn to the historic charm of Winter Park’s tree-lined streets or the modern convenience of a newly built community, the key is aligning your specific needs with the right property – and having accurate, hyperlocal market data to inform your decisions.
Ready to explore Central Florida’s diverse housing options with a local expert? Let’s connect and discuss your specific needs and how today’s market conditions align with your homeownership goals.
Contact Maite Martinez at Coldwell Banker for personalized insights into Winter Park and Central Florida real estate.
This article reflects market conditions as of March 2025. For the most current information, please contact me directly.