New Construction vs Resale: A Total-Cost Worksheet for South Philly Buyers

A sticker price is only the start of what a home costs. A newer home may cost more up front but need less work. An older home may cost less to buy but need updates right away. This worksheet helps you line the two up side by side.

It is written as a set of text cells you can copy into a notebook or a spreadsheet. All variable names and example numbers below are made up for illustration. They are not quotes from any seller.

Cell 1: Define Your Variables

Create one set of variables for each home you are comparing. These names are Packer Park townhomes for sale invented for this worksheet:

base_price — the listed price of the home
upgrade_cost — any choices that cost more than the base price
renovation_cost — work you would need to do soon after buying
appliance_cost — appliances you would need to buy or replace
tax_note — a reminder of any tax terms you still need to confirm

Your simple formula is: total_cost = base_price + upgrade_cost + renovation_cost + appliance_cost. Leave taxes as a separate line until you have confirmed the facts.

Cell 2: Fill In the New-Construction Column

Use real details from the seller. As one example, Renaissance Estates in Packer Park lists a base price from $1,175,000, with prices subject to change as costs and demand rise. Its stated features help you fill in the other variables:

Selections and colors chosen from samples are within the base price, so upgrade_cost may be low if you stay with the samples.
The kitchen comes with a Sub-Zero refrigerator, a Wolf range, a dishwasher, hood and microwave, which affects appliance_cost.
A 5-stop elevator is included in the base price.
Dual-zone HVAC, Andersen windows and an interior sprinkler system are part of the build.

You can review the full list on packerparkhomes.com and confirm the current price with the sales team at (215) 551-5100.

Cell 3: Fill In the Resale Column

For a resale home, get an inspection and contractor estimates before you fill in renovation_cost. Ask about the age of the roof, heating and cooling, windows and kitchen. Each one that needs work adds to the total.

Cell 4: Example Table (Invented Numbers)

The table below is made up only to show how the worksheet works. Every number is invented. Replace them with your own figures.

Home A (invented new build): base_price 100 units, upgrade_cost 2 units, renovation_cost 0 units, appliance_cost 0 units. Total: 102 units.
Home B (invented resale): base_price 85 units, upgrade_cost 0 units, renovation_cost 12 units, appliance_cost 4 units. Total: 101 units.

In this made-up case, the gap between the two homes nearly closes once the work is counted. Your real numbers may look very different.

Cell 5: Tax Considerations to Confirm

Property taxes can change the long-term picture. Some new homes in Philadelphia come with a tax abatement. For example, the Packer Park developer lists a full ten-year tax abatement. Do not plug this into your worksheet as a fixed number. Confirm the abatement terms with the City of Philadelphia or your own advisor first, then add it as its own line.

Cell 6: Add the Things Numbers Miss

Some value does not fit neatly in a cell. Write short notes on items like a 2-car garage with an interior entrance, a roof deck, or a lower level that can serve as a fourth bedroom. These may matter to you even if they are hard to price.

Cell 7: Read More Before You Decide

For a full look at one new-construction option, see the Renaissance Estates townhome guide and the Packer Park new construction overview. Then run the worksheet with your own numbers.