Is a home still new if it was built three years ago...and never lived in?

By
Real Estate Agent with Montgomery Realtos Inc, Florida

So, is a home built in 2006 still considered a new home just because it has never been lived in?  Yes and no.  For all pretense and purposes it does look/feel like a new home; no window coverings, no scrapes, no landscaping, etc... It is new in the sense it has never been lived in and the builder usually offers a builder warranty. The builder will be taking a loss, the appraisal will reflect age, appliances are at least three years old, whether they have been used or not; the entire structure really is three years old, whether it has been lived in or not. No matter how you look at it, when it is time to re-sell it, age will be based on the year it was built, NOT when you purchased it.

There are builders who still have new/never occupied homes for sale, originally built as long ago as 2006!  Sad, but true.  When we see a new home listed for less than an identical/same age home as a re-sale, we think it is a great deal. Before you think you are getting a great deal on a new home, take a look at re-sales built the same year. You may find you get a lot more bang for your buck, if you purchase the re-sale.

Example:  We have a professional relocation situation, and have listed a beautiful home in a desirable community.  The seller purchased this home only a year ago and has added quality upgrades, like clearing the entire lot (some builders only clear a small portion of the back yard and sod it), adding an alarm system, installing designer cement landscaping curbing, purchasing a quality garbage disposal and having it professionally installed, mulching one-quarter of the big back yard for installation of a children's playground/gym set, installing a very nice cement pad that a utility building was to be placed on, etc etc etc....  $Thou$and$ of Dollar$!  Originally purchased for $285,000, today listed for sale at only $274,000.  Quite a loss to the Seller!  The same home/design is available from the builder, built the same year/similar price, without the upgrades.

Don't be fooled by ‘new home' unless it is built the year you purchase it.

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