What’s really a better value: A New Home or a Foreclosure?

Are you prepared to roll the dice?

A common misconception among homebuyers today is that the best values in the market are foreclosures. Yes, there are some good deals on foreclosed homes, however, if you take a closer look, you might find that buying a NEW home is actually a better value, a safer investment and offers more peace of mind. 

Probably the most important consideration when comparing a new home versus a foreclosure is the protection you have when you purchase a new home. If anything goes wrong after closing, a new home is covered by the builder's one-year limited warranty on workmanship and materials, as well as a ten-year structural warranty. You have peace of mind knowing there won't be any unanticipated out-of-pocket repair costs to absorb.

Most people aren't aware that properties sold in foreclosure are sold "as is".  This should be one of the biggest concerns for any potential homebuyer. It means there's no warranty protection and there isn't any recourse if there are construction defects, environmental hazards or problems of any kind with the home. Often, maintenance or "behind the walls" issues are not readily visible and problems arise after closing and you're living in the home.  As a buyer, these repairs (sometimes very costly) are made "out of pocket" and add to the actual cost of the home.

The greatest benefit of buying new is purchasing your dream home. You are the first owner and everything is sparkling clean, and brand new. In many cases you can customize the home to reflect you own tastes and personality instead of living with someone else's choices.  Often, purchasers of foreclosures or used homes are forced to make a substantial additional investment after the sale to paint, replace damaged or missing fixtures and/or appliances, stained or worn-out carpets and dead landscaping.

One last thing to consider is the quality of construction and the reputation of the builder. Stanley Homes, a custom new home builder in the Melbourne area, is a third generation, local custom builder with a reputation for building great homes with a great value. In addition to being backed by a Warranty, Stanley Homes incorporates the latest technology, design and materials in all of their homes.  Stanley Homes are more energy efficient than ever before and stronger than homes built just a few years ago because of new building codes and new developments in home construction.

There are many other reasons why a new home is a better value and a better investment in your future.  So when you're out shopping for a foreclosure home and looking for that "good deal," consider visiting new home communities too. Prices are at an all-time low, and many builders like Stanley Homes offer affordable pricing, excellent quality and a good deal that THEY GUARANTEE. 

The Choice is Yours . . . Contact Stanley Homes today for pricing and features on their great homes.  Call 1-888-899-0321 to learn more about buying affordable new homes in Melbourne and Plam Bay Florida, or visit our website for Melbourne new homes.