Brandon - it all depends. In San Antonio you can buy a 2,000SF one story 4 sided brick home for $150,000. I showed it to my mom and she said she loved it, as is, except a carpet replacement. She didn't mind the DIY tile project, 1980s Magik Chef appliances, and the Grecian style bedroom. I told her I'd have to replace ALL the flooring, strip the popcorn, re-texture and paint the house, change all the lighting and appliances, which would run about $20,000+ taking it to $170,000. It has a heated pool with a jacuzzi and patio too.
If I built it, I'd get mostly what I want but builder grade carpet and lighting, not worth a hoot if you can also get at Home Depot for less. I would spend another $40,000 on the pool, $10,000 on the deck, and to build that size with that lot size (.25 acres) would be around $250,000; total in is $290,000.
I'd gladly take the out of date home, greenovate it over a new one any day. Either way I'm getting a great house. But value wise, the older one will be easier to sell later and it is exactly what I want, flooring, lighting, pool, appliances, and all.
There is much to decide. My recommendation is that you make a list of 5 MUST HAVES. Then shop for homes to see what you find. Then check with a few builders to compare. Every area is unique even down to the block.
Find a good Realtor who knows both new and resale homes. That is always your best bet! I can refer a quality Realtor if you like. I'm networked nationally on a personal level with hundreds of Realtors.
Green Home Realty