A Consideration
in Choosing
a Home!
There are many considerations when choosing a home! One of them is... "Should I purchase a New Home or a Resale (home previously occupied)?" The advantages of a 'resale' can outweigh those of a new home; however, this information is to help only... I Report, YOU DECIDE!
- Landscaping is complete! Depending on the size of the lot and the type of landscaping desired, this item can cost from $5,000 to $25,000 and up!
- Window Treatments are already available when you move in! In a new home you must hang sheets for privacy or buy new blinds (minimum), draperies, etc. right away. Depending on the number and size of the windows, as well as the quality desired, this item can cost you from $2,000 to $45,000 and up! In a new home, you have to act quickly and spend $$$ right away when you are the busiest and usually, the poorest!
- Any construction errors are settling of the home will have already been discovered and repaired! With an older home, you don't have to worry about settling, cracks in the basement, poor deck support, etc. "If it was going to happen, it has happened!"
- Repairs and maintenance has already been completed! Often, problems are not observed in a new home until you live in the home for awhile. There are stories of poor wiring insulation, light fixtures shorting out quickly, showers leaking, etc. If the owner lives there for awhile, he has taken care of everything as it breaks. He has also done EXTRA work getting ready to put the home on the market!
- A Home Warranty is more than likely available, even for appliances! You don't have to deal with a builder who has to call his subcontractor who is very slow to respond... sometimes, never!
- You can get a better deal on older homes which have had major upgrades or maintenance completed. If the home is in good condition, with maybe a new roof, siding replaced and/or painted, with maybe updated kitchen and baths, with a finished basement, it is competitive with new homes that do not have these expensive items included!
- Any wall can be painted! Just negotiate in the offer if you want the seller to do it before the Celebration (Closing)! Builders use builder-grade paint, and normally an off-white or eggshell for the walls. Some are more creative, but the pain is still builder-grade. You would be repainting all walls within 2 years, either by necessity or by desire!
- Owners of homes often add special features which a builder normally will not add for you! Some of these features include fencing, gazebo, increased size of deck, screen porch, sun room, higher-grade appliances, California closets, hot tubs, finished basements, swimming pool, etc.
- The older homes have much larger lots, with homes further apart! As areas get built up, land becomes more scarce and more expensive. Builders thus have to be able to build more homes per acre for their money, and thus, the lots become smaller.
- Older resales are easier to sell when it becomes Your Time to Sell! If you buy a new home in a new subdivision, you had better plan to stay there until the subdivision gets completely built out. The same is true if there are many new subdivisions going up in the same area. Your home will not appreciate more than the new homes, and buyers think they can buy a new home and decorate it their way for the same price! They have not seen this information, obviously!
- It is easier to negotiate with the seller than with a builder! A builder has to get a certain profit margin and will really charge to make any changes which are specific to a buyer. AND, the buyer is paying today's prices as opposed to last year's prices! The builder can not make real profit by doing changes... he wants to start building a new home! He has to carry the construction loan longer as well while making your changes or adding additional features.
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