Fort Meade - USNA - Andrews AFB: Five Reasons to Consider Resale vs. New

Five Reasons to Consider Resale vs. New

Five Reasons to consider a resale home in a new construction community


ConstructionA brand new home is the dream of many home buyers, but there may be some nearly new resale homes in the same community. Why would (or should) anyone purchase a previously owned home when brand new is available? 

There are benefits to both options, of course, and only you can decide what's right for you. But it IS worth considering a nearly new resale home before signing on the dotted line with a builder. 

 

Five reasons to buy a new construction home:

  1. You choose the lot.
  2. You choose the options.
  3. Everything about the home is brand new - from mechanical systems to carpet and paint.
  4. No one else has ever lived in the home before and it's like a blank slate, just waiting for your personal touch.
  5. Builder incentives (closing help, "free" options, etc.).

 

Five reasons to buy a resale home in a new community:

  1. You can see the actual building lot, including the finished grading, exposure to the sun, proximity to neighboring houses (how other houses impact your view, how neighbors maintain their property, etc.). It's more than a blank piece of ground in a field or a square on a site map.
  2. You can see the options AND the many additional things added after the purchase. These may include custom features such as landscaping, floor coverings, light fixtures, window coverings, ceiling fans, a deck or patio, finished basement, upgraded appliances, etc. These items would add to the new home price from the builder, or perhaps they're not even available from the builder. "What you see is what you get" in a resale home, without the agony of hours spent weighing the cost/benefit of adding builder options and making selections from those limited options.
  3. Everything about the home is nearly brand new and probably still under warranty.
  4. Someone else has already dealt with a myriad of new home issues ranging from grading to dying plants or grass, from missing trim to imperfections in construction.
  5. Seller incentives. A private seller may be more highly motivated than the builder and, therefore, more negotiable. In some areas, a builder's offer of closing help could be misleading because marketing "closing help" only reflects terms that are already customary for resale homes in the area. (This is the case in the area where my business is focused.)

 

In addition to these five reasons, sellers of existing homes in the community may be a good source of information regarding issues they've experienced with the builder or the mandatory Homeowner's Association (HOA).

These conversations may help you identify questions to ask the builder's sales rep and/or matters for you to investigate online or with HOA or local officials before buying new.

 

There's no one right or wrong answer about new vs. nearly new in the same community. That's an individual decision - But a wise home buyer will consider both when looking at new construction homes.

This infoMargaret Wodarmation was provided to you by Margaret Woda, an Associate Broker with Long & Foster Real Estate in Crofton Maryland. Contact Margaret today for general real estate information or to learn how she can help you buy or sell a home in Annapolis, Bowie, Crofton, Davidsonville, Gambrills, and Odenton. 

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Comment balloon 10 commentsMargaret Woda • June 14 2015 02:56PM

Comments

These are great reasons....just the landscaping alone can drive the decision

Posted by Kristin Johnston - REALTOR®, Giving Back With Each Home Sold! (RE/MAX Realty Center ) over 1 year ago

Great information thanks for sharing.  Hope 2016 is a great year for you.

Posted by Richard Weeks, REALTOR®, Broker over 1 year ago

Hello, Margaret! This is an insightful read that homeowners will definitely learn a lot from. Thansk for sharing this and I hope you have a lovely day ahead!

Posted by Nestor & Katerina Gasset, Realtors, Wellington Florida Homes For Sale (International Properties and Investments LLC) over 1 year ago

Margaret, this is a HUGE decision by buyers today.    Sometimes it is all about the timing. 

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) over 1 year ago

Margaret Woda I don't think that Katerina is shaming you at all. You have done a great job.

And I agree about the front lawn (landscaping). If the builder doesn't do it,  the homeowner MUST. The re-sale will have this completed (most likelly). this is enough to "convince" me to go with the re-sale.

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) over 1 year ago

Landscaping, fencing, window coverings, water treatment, sometimes even appliances - that stuff adds up on a new home!

Posted by Virginia Hepp - Mesquite NV REALTOR, Mesquite NV Homes and Neighborhoods - Search MLS (ERA - Mesquite NV Homes For Sale) over 1 year ago

Margaret,  I am stopping by to wish you a Very Happy Birthday!

Posted by Kathleen Daniels, San Jose Homes for Sale - Probate Broker (KD Realty - 408.972.1822) over 1 year ago

Margaret I have owned three homes, one was a heavy fixer, one was brand new construction and one is a moderate fixer. I have learned from the first one, if you buy any home that is not brad new either you better be very handy or have a good handyman....in my case we have a great Handyman, Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) over 1 year ago

Excellent information! 

I've been very lucky to own new construction twice now. My current home was a resale and I love it, but I would love to build again.

Posted by Sharon Tara, New Hampshire Home Stager (Sharon Tara Transformations) about 1 year ago

Thanks, Tara, for reciprocating comments. That used to be the norm around here, but it seems like most folks have gotten away from that.

Posted by Margaret Woda, Maryland Real Estate & Military Relocation (Long & Foster Real Estate, Inc.) about 1 year ago

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