Read This Before Buying a Fixer-Upper

Side-by-side comparison of two suburban homes: on the left, an older, weathered two-story house with dated siding, and on the right, a modern new construction home with fresh paint, clean lines, and manicured landscaping under a bright blue sky.

For the first time in years, resale homes are selling for more than new construction, and it is happening right here in the Triangle and beyond.

According to the latest national housing data, the median price of an existing home is $429,400, while the median price of a newly built home is $410,800. That is an $18,600 difference.

If you have been assuming that older homes are the more affordable option, it may be time to rethink your strategy. Let’s explore what is driving this trend and what it means if you are buying a home in Raleigh, Durham, Cary, or Chapel Hill in 2025.

Why Are Existing Homes Outpricing New Construction?

Historically, brand-new homes cost significantly more than resales. From 2010 to 2019, the gap averaged around $66,000. Over the last five years, it shrank to $25,000.

In 2024, the shift happened when resale homes surpassed new builds in price for the first time. In 2025, that trend is continuing.

Here is what the numbers show:

  • New home prices decreased 0.9% year-over-year

  • Existing home prices increased 1.7% year-over-year

That means in markets like Raleigh and Durham, resale homes are often priced higher than new builds that include builder incentives.

The Real Cost of Buying a Fixer-Upper in North Carolina

Many buyers believe a fixer-upper in Cary or Chapel Hill will save money. In today’s market, the costs of renovating an older home can quickly outweigh the initial savings.

Here is why:

  • High renovation costs: Lumber, roofing, and skilled trades are still expensive.

  • Delays and shortages: Contractors in the Triangle are booked out for weeks or months.

  • Hidden repairs: Electrical issues, mold, and foundation problems can increase costs fast.

  • Time and stress: Renovations add carrying costs and slow down your move-in timeline.

When comparing new construction versus fixer-upper homes in Raleigh, you may actually spend more on the resale by the time you finish renovations.

Why New Construction Homes May Be the Smarter Buy in 2025

Builders in the Triangle have adapted to buyer demand by delivering homes that offer more value.

  • Smaller, efficient floor plans designed to maximize living space

  • Communities in growing suburbs like Holly Springs, Apex, and Fuquay-Varina

  • Buyer incentives, such as rate buydowns, closing cost assistance, and free upgrades

Because builders purchase materials at scale and work with established crews, they can often price homes more competitively than individual resale sellers.

If you are deciding between a resale in Durham or a new construction in Cary, do not overlook the incentives that could stretch your budget further.

When a Fixer-Upper Still Makes Sense

There are still situations where buying an older home makes sense:

  • You find a property priced well below market value

  • You have the budget and timeline to renovate without stress

  • You want a specific location with no new construction options

  • You plan to complete a custom remodel tailored to your lifestyle

For buyers set on neighborhoods like Historic Oakwood in Raleigh or Downtown Durham, a fixer-upper can still be the right move.

FAQs for Triangle Homebuyers

Is new construction cheaper than resale homes in Raleigh, NC?
Yes. In 2025 many new construction homes in Raleigh and nearby suburbs are priced lower than resale homes, especially once builder incentives are added.

Why are resale homes selling for more than new construction in 2025?
Across the United States, and in the Triangle real estate market, there is a limited supply of existing homes. At the same time, builders are offering incentives to attract buyers, which has flipped the pricing trend.

Should I buy a fixer-upper in Durham or Cary in 2025?
It depends on your situation. Renovation costs remain high in North Carolina, so many buyers are finding that new construction offers better value and less stress.

What This Means for Triangle Buyers and Sellers

If you are buying a home in Raleigh, Durham, Cary, or Chapel Hill, do not assume older means more affordable. In today’s market, resale homes may cost more and still require significant updates.

New construction homes are often move-in ready, energy-efficient, and backed by a builder warranty, which can save money and reduce stress over the long term.

As a REALTOR® with more than 20 years of experience living in the Triangle real estate market, I help buyers and sellers navigate these shifts with confidence. Whether you are considering a resale or new construction, I will help you compare options, run the numbers, and make the best decision for your goals.

Bottom Line

In 2025, many existing homes in the Triangle are selling for more than new builds. This shift is changing the way buyers need to evaluate their options.

Before committing to a fixer-upper, compare incentives, financing, and long-term costs. You may discover that a new construction home in Raleigh, Durham, or Cary provides more value and a smoother path to homeownership.

If you are ready to explore your options, let's connect. I will help you find the right home, at the right price, with the right strategy for your goals.

Thanks for reading!

Brandon Yopp