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Feb 23 2017 32391 1

Feb 23 2017 32391 1

NEW HOME VS. RESALE/ WHICH IS THE RIGHT DECISION?

NEW HOME VS. RESALE: WHICH IS THE RIGHT DECISION?

Torn between building a new home or buying a resale? Here is a list of advantages for each that can help you make that decision.

Is a newly built home right for you? Do you want a home that you’ve helped design and that offers the latest in energy efficiency and design? Or, do you prefer a previously owned home that may need to be upgraded, painted, and remodeled to your liking?

New home construction continues to show steady growth. MNew Constructionany of the builders are offering very enticing incentives!

While searching for your dream home, you’ll probably hear a variety of opinions. Should you purchase a newly built home, or a resale home? There are advantages to both and you need to decide which is best for you. For a better idea of which type may be more suited to your needs, let’s look at the advantages of both new and resale homes.


Why Buy a new home?

Perhaps you love the idea that you can be a home’s very first owner.Everything is new and shiny. The neighbors are probably also just moving in. You can customize the floor plan and colors. Buying a new home can be fun and exciting. Here are some other advantages:

  • New homes are built with new materials and appliances, so less maintenance typically is required than with resale homes.

  • They often have more safety features and fewer health hazards because they conform to today’s  building codes.

Every home you see will have its pros and cons. Choosing what’s important to you and creating a checklist of “must haves” will help you decide.

  • Many homebuilders offer warranties in case certain problems develop over time.

  • The home’s major appliances and systems also typically include manufacturers’ warranties.

  • They typically feature modern architecture and layout (eg great rooms, bigger closets, additional bathrooms, no formal dining and/or living rooms.)

  • New homes are well-insulated due to better windows, more efficient heating and cooling equipment, and greater use of insulation.

  • The homes are made with materials requiring less maintenance,such as composite siding, vinyl windows, and pressure-treated wood that resist rot and insects.

  • They’re easier to customize than resale homes because you can choose many details upfront—from floor plans and paint colors to faucets and light fixtures.


Why Buy a Resale Home?

Housing styles have changed with time and you might favor more traditional layouts and features. Older houses and neighborhoods may have more character and charm. The trees are full grown and the neighbors can tell you all about your new neighborhood. Here are some other advantages:

  • Resale homes may provide more opportunities for home improvements.

  • They typically have more land than newer properties as a result of changes in land-use patterns.

  • The homes are often in older, more convenient metro areas rather than in outlying suburbs.

  • You can use the existing home as a base for building a unique property through modernization or expansion.

  • Resales tend to be less expensive than new properties. They are more likely to come complete with items that may cost extra in a new home (eg blinds, landscaping, built-ins).

  • Depending on the state, resale homes may have lower property tax rates.

  • The local bonds (i.e. SID/LID) that are sometimes associated with new developments are typically paid off.

  • These homes often have more traditional layouts which may include formal living and dining rooms.

  • Buyers can purchase a larger home for the same money with a resale than with new construction.

  • Buyers often have more room for negotiating the price or terms of sale than with new homes.

One of the nice things about choosing a resale home is the fact that it would be in a more established area, with a stronger community feeling.

Both options offer significant advantages. The real question shouldn’t be whether to buy a new or resale home. It’s about deciding which individual property will best meet your family’s needs.


Joshua Holmes Headshot
Author:
Phone: 702-338-6496
Dated: February 23rd 2017
Views: 173
About Joshua: Las Vegas Valley Realtor® Joshua Holmes views his role in assisting buyers and sellers as more than...

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