Trying to decide between a new build and a resale home in Mundelein’s 60060 ZIP? You are not alone. Both paths can work well depending on your budget, timing, and how much customization you want. In this guide, you will get a clear, side-by-side view of costs, timelines, warranties, inspections, HOAs, and financing so you can move forward with confidence. Let’s dive in.
New construction: what to expect in 60060
Buying new often means a longer timeline from contract to move-in. Build times commonly range from about 4 to 12 months depending on the builder’s schedule, options chosen, weather, and municipal inspections. Some builders offer completed spec homes that can close faster once the certificate of occupancy is issued.
Expect upgrade choices to affect both price and timing. Model homes typically feature nonstandard upgrades, so verify what is included in the base price. Ask about lot premiums, appliance packages, landscaping, and fencing so your total move-in cost is clear.
Mundelein’s permitting, utilities, and inspections go through village and county processes. Lead times vary by season and project scope, so confirm current timelines with your builder and the village before you commit. This will help you plan your housing and financing timeline.
Resale homes: what to expect in 60060
If you need a predictable move date, resale can be efficient. Standard closings typically take about 30 to 45 days after an accepted offer, depending on financing and the seller’s needs. You can often move sooner compared to a ground-up build.
Resale pricing may come in lower than new construction on a per-square-foot basis. Factor in near-term updates for older systems, roofs, windows, or interiors. Established landscaping and mature trees are a plus, though they can carry higher maintenance costs over time.
Resales also offer immediate neighborhood context. In Mundelein, lot sizes, school boundaries, and proximity to Metra and commuting routes vary by micro-location. Confirm these details during your search so the home fits your daily life.
Costs and value: price, upgrades, and taxes
New construction typically carries a higher base price and possible lot premiums. You may see builder incentives like closing cost credits or rate buydowns. These can improve affordability but review how incentives are reflected in the contract and appraisal.
Resale homes can offer lower initial prices. Plan for repairs or upgrades in the first few years. Build a line item for mechanicals, roof, and any cosmetic changes to avoid surprises.
Property taxes in Illinois are locally assessed. New construction is usually assessed at completion and can be valued differently than established sales until the tax rolls update. Review the most recent tax bills for comparable homes and check how assessments are handled in Lake County before you finalize your budget.
Timeline to move: speed vs flexibility
- New construction
- Typical build time: about 4 to 12 months, depending on scope and season.
- Spec homes can close faster once occupancy is issued.
- Plan for possible delays related to weather, materials, and inspections.
- Resale homes
- Typical close: about 30 to 45 days after offer acceptance.
- Timing depends on financing and seller needs, but is usually more predictable.
If you need to move quickly or align with a job start date, consider resale or completed spec homes. If you want custom finishes and can be flexible on timing, a new build can be a great fit.
Customization and design control
- New construction
- Choose finishes, floor plans, and layout changes if you buy early.
- Upgrades increase cost and can extend timelines.
- Resale homes
- Limited customization before closing.
- Renovations post-close add time and cost but can be phased.
If you have a specific layout or design vision, new construction gives you the most control. If you prefer established streetscapes and mature trees, resale may match your lifestyle faster.
Warranties and protections
New homes typically include structured warranties. A common framework is one year for workmanship and materials, two years for major systems like electrical, plumbing, and HVAC, and 10 years for certain structural elements. Always get the builder’s written warranty and understand coverage, exclusions, and claim steps.
Resale homes do not include builder warranties by default. Some sellers offer a one-year home warranty as a negotiation point. Either way, a thorough inspection and a repair budget are essential.
Illinois consumer laws protect buyers in contractor relationships. Ask for warranty documents in writing, and consider having a real estate attorney review the builder contract if you are unsure about the terms.
Inspections and quality control
Independent inspections protect you in both paths.
- For new construction
- Pre-drywall or rough-in inspection to catch framing or mechanical issues early.
- Final inspection before closing to address punch-list items.
- Ask for any energy reports, such as blower-door tests or HVAC commissioning, if advertised.
- For resale homes
- Full home inspection plus radon testing, and sewer scope or pest inspection as needed for the home’s age and condition.
Radon is a known risk in Illinois. The EPA recommends testing in all homes. Plan for a radon test on both new and resale purchases, and include mitigation if needed in your budget. Learn more from the EPA’s radon guidance.
HOA and community governance
Many new subdivisions start with a developer-controlled HOA. The developer usually appoints the board until a set number of homes are sold. That means rules, budgets, and maintenance plans are in flux.
Review CC&Rs, bylaws, budgets, reserve studies, and any master association details. Ask about initial capital contributions, planned amenities, and timelines for turnover to homeowners. For resale HOAs, request recent meeting minutes, financials, and insurance certificates to understand stability.
Financing and appraisal
- Financing types
- Resale homes typically use conventional, FHA, VA, or USDA loans as eligible.
- New construction can be financed with a standard mortgage for spec homes, or a construction or construction-to-permanent loan for custom builds. Builder-preferred lenders may offer incentives.
- Appraisals
- Resale appraisals rely on nearby comparable sales.
- New builds may use cost and contract pricing if few comps exist. Incentives can impact the appraised value, so disclose them clearly.
- Rate locks and timing
- Longer build timelines require interest rate strategies. Explore extended locks, float-downs, or construction loan options early. The CFPB’s mortgage resources explain common loan types and rate considerations.
Which path fits your situation
- Need to move within 60 days
- Resale or completed spec homes usually fit best.
- Want maximum customization and new systems
- New construction suits buyers who can allow time for selections and build steps.
- Strict budget and cost certainty
- Resale can offer negotiating room. For new builds, insist on firm allowances and written upgrade pricing.
- Low maintenance and energy efficiency
- New construction often wins for the first several years.
- HOA predictability
- Established HOAs in resale communities often provide clearer financial histories and rules. New communities require careful review of developer control provisions.
Buyer checklists you can use today
New construction checklist
- Pricing and inclusions
- Base price, lot premium, allowances, and upgrade menu with deadlines.
- Incentives and how they are applied to the contract and appraisal.
- Timeline and permits
- Current permit status, inspection schedule, and certificate of occupancy plan.
- Delay clauses, remedies, and options if financing or rates change.
- Warranty and quality
- Written 1-2-10 style warranty, exclusions, and who handles service.
- Pre-drywall and final inspection timing, plus documented punch list.
- Lot and utilities
- Drainage plan, elevation, easements, and flood map status.
- Utility connection timelines and any tap or impact fees.
- HOA and governance
- CC&Rs, bylaws, budgets, reserves, developer control and turnover triggers.
- Energy and documentation
- Insulation specs, HVAC manuals, product warranties, and any third-party certifications.
Resale home checklist
- Inspections and testing
- Full home inspection, radon test, sewer scope for older lines, and pest inspection.
- Condition and updates
- Age of roof, HVAC, water heater, windows, electrical panel, and appliances.
- Recent repair records and utility bills for a realistic cost picture.
- HOA diligence
- CC&Rs, recent meeting minutes, financials, insurance, and special assessment history.
- Taxes and disclosures
- Recent tax bills and seller disclosures with repair invoices.
- Budget and negotiation
- Estimate near-term capital needs and negotiate credits or price adjustments accordingly.
How Julie helps you decide with confidence
You do not have to figure this out alone. A thoughtful plan will save you time and money, whether you choose a new build or a resale. We will map your priorities, confirm timelines with the village and builder, review warranty and HOA documents, and line up inspectors and lenders so you can move forward with clarity.
Ready to compare real options in Mundelein 60060, including spec homes and resales that match your timeline and budget? Schedule your complimentary concierge consultation with Julie Towne.
FAQs
How fast can I move into a resale vs a new build in Mundelein?
- Resales commonly close in about 30 to 45 days after offer acceptance, while new builds often take about 4 to 12 months unless a completed spec home is available.
What warranties come with a new home in Illinois?
- Many builders offer about one year for workmanship, two years for systems like HVAC and plumbing, and 10 years for certain structural components, but always confirm the written warranty.
Do I need independent inspections for a brand-new home?
- Yes, plan for a pre-drywall inspection and a final inspection before closing, plus a punch-list walkthrough to correct items.
How do property taxes work for new construction in Lake County?
- New homes are typically assessed at completion and may be valued differently until reassessments and comparable sales update the tax rolls, so review recent comparables and current assessment practices.
What hidden costs should I expect with a new build?
- Common add-ons include lot premiums, upgrades, landscaping, fencing, utility connection fees, and initial HOA contributions.
How do appraisals handle limited comparable sales for new builds?
- Appraisers may use cost and contract data when similar recent sales are scarce, and builder incentives can affect the appraised value.
Can I use FHA or VA financing for new construction?
- Many spec homes can use standard financing like conventional, FHA, or VA, but custom builds may require construction or construction-to-permanent loans.
Should I test for radon in Mundelein even in a new home?
- Yes, the EPA recommends testing all homes, new and resale, and mitigation can be added if levels are elevated.
