WHAT WILL YOU CHOOSE?
We currently are in a Buyer's Market and you as a buyer have more choices. The interest rates are low, there is a large inventory to choose from, and the sellers are willing to negotiate almost anything.
What home will you purchase, NEW or a RESALE?
The dazzle of the new, or comfort and value of the old?
RESALE HOME:
A resale home can be better than gold, if it better fits your family needs and you get it for a great better price. The reputation of the community is known and can be predictable.
In some cases Existing Homes typically have more upgrades, landscaped yards, and you usually get more for your money. They are often located in established neighborhoods and have mature trees in addition to what they call, "Character".
NEW HOME:
New homes can be built with your preferences designed in. You usually can select the tile, colors, patterns, and optional upgrades. New homes typically have the latest appliances that are energy-efficient. In addition to that, there is new plumbing and electrical systems in place. They usually have larger spaces with the latest layout designs.
There is less essential maintenance for the home since it is new at least for the first few years. However, the cost of the home usually reflects the added convenience. The community does not have a track record and the future of the area is still to be determined.
Find out what will be a good fit for you.
What will give you the most happiness, comfort and convenience? A new home or an existing one?
You may be in for a surprise about what suits you best. Contact us for a free consultation!
Ernie Cabrera, CEO
REAL ESTATE AMERICA
(916) 439-4663
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Ernie is the President and CEO of REAL ESTATE AMERICA, REA MORTGAGE, and REA COMMERCIAL with 17 years of experience as a real estate professional and a life time of real estate investing with family!
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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Ernie, You have to determine what is best for your buyer. I have buyers now who love the new home models but the yards are not big enough for their 2 Labs, so they are looking to resale with bigger lots.
Roberta, your right about finding out what the buyer's needs are first. Most of the new subdivisions have small yards due to the fact that the builders are trying to fit as many homes as possible into the land that they have. I have found that some of the irregular lots even in new subdivisions have larger lots like corners and cul-de-sacs. Thanks for reading and commenting, it is always good to see you around AR! :)
Ernie,
There are pros and cons of buying resale vs new as you've stated in the post. I prefer a new home with a resale lot....if that is even possible. I think there may be more value in the resale because there is less restrictions on modifications to the home. Hope you're having a fantastic weekend!
By the way, the REA picture above did you recently sold them that new home? It looks like a new home with a 3-car garage.
Dave
I would pick a resale home every time, you get so much more for your money. I have had 4 new homes and 2 resale homes, so I know what I like. But some people just want the new factor!!
Dave, thanks for checking this new blog. I had a great weekend! I hope had a good one too and sold some properties. The couple above bought a nice resale home at a good price and put in a lot of great upgrades. It was located near a golf course in a fantastic neighborhood. They were a great family to work with and are dear friends. The home they are standing in front of was a home I help them sell in the East Bay Area.
Bonnie, thanks for sharing your real life experiences. I do see the great advantages of a resale home and in most cases you do get more for the money. I am however seeing a lot of end of year close out from the new home builders who are just giving these homes away at steal of deal prices. This does not happen very often here. I say get it while it lasts. Thanks again! :)