Seven reasons to Buy a Pre-Loved Home

Seven reasons to Buy a Pre-Loved Home, That's right, Pre-Loved, not simply Pre-Owned, because typically there has been a lot of love in most homes and really isn't Pre-Loved a nicer term than resale or pre-owned or as one of my buyers once referred to them as used homes.   But for purposes of this post we will be talking about owners who loved, cared and maintained their homes.

The proper real estate term would probably be resale home.  So let's talk about the advantages of a well maintained resale home -vs- a new build.

1. Established Neighborhood - Most people want to be a part of a community and there are many variations of communities but we all crave being a part of something bigger.  If being a part of a community or neighborhood isn't you then you are more likely looking for a rural setting and land lots of land.  But for those of you that desire community a you can drive by a resale in an established neighborhood and get a pretty good feel for what your life style will be in that area.  You can gauge if the HOA (Home Owners Association) is too strict or not strict enough for your tastes and get a feel for the respect or lack there of that the neighbors have for their property and yours.  
   
   In a new build neighborhood you will come to learn theses things as years go by.  You may need to involve yourself early in the HOA to be an influence on how the neighborhood sorts out.
    
2. Landscaping - Depending on the builder you get your allotment of 'x' amount of shrubs, plants and trees.  Builders will spend $60,000 on a kitchen and  only $6,000 on landscaping.  Those twigs they plant will look gorgeous in 20 to 30 years.  So by the time the 3rd or 4th owner has the house which you had built the landscaping will have matured and become gorgeous.  It should comfort you to know that your years of nurturing made a future owner's Garden of Eden, but you won't get much enjoyment out of it while you are there.  
   
   Pre-loved homes come with a pre-loved yard.  Trees take years to mature and form those beautiful canopies of shade.  Ornamentals get their character after about 5 to 10 years of growth.  Well maintained flower beds grow into their own after years of care-taking. If the out doors is as important to you as the indoors then you may need to consider these pre-loved gardens.
   
   
3. Competing with the Builder - You may be planning to live in your next house forever but more than likely you will be moving in 3 to 7 years.  If the neighborhood isn't built out by then and the economy isn't what it was when you bought the builder can be your stiffest competition.  
   
   They can cut back on the upgrades and offer more square feet for less price.  They may have bought the remaining lots on the cheap and be at a competitive advantage right off.  They can even start building styles and plans that change the whole look and feel of the neighborhood.  Either way, when it comes time to sell it is tough for the individual seller to compete with the latest trends.  Especially when they are in the same neighborhood.  You can't claim the neighborhood advantage, they are in your neighborhood too.
   
   
4. Schools and Zoning - In an established neighborhood you usually know what you are getting.  As population grows zoning changes but usually the established neighborhoods have the advantage of knowing what they are getting.  
   
   New neighborhoods generally come with new schools.  This isn't a positive or a negative but most of us like to know the reputation of the schools before we commit our children to the system.  New schools come with a fresh approach and excitement most of the time.  When the newness wears off will the glitter still be there?  
   
   
5. Location - No need to say this three times.  We all know how important it is.  In particular as cities, towns, and hamlets grow.  The traffic patterns that come with urban sprawl can be a nightmare.  Homes and neighborhoods in established areas are there to begin with because they are convenient.  The best neighborhoods are often located nearest to the town centers.  That is why so many towns have renewed and revitalized interest in the "historic" districts.  The chic cafes and shops or shoppes (if you will), tend to become established in these areas as well.  
   
   Chances are they are also close to main travel routes, work and business districts, grocers, downtowns and other desirable destinations.  If your home is truly your castle and you pull up the moat bridge each evening then how long it takes you to get from here to there may not matter.  But if you plan to do some living after 6:00 pm, drive times may have some real advantage for your next home.
   
   
6. Street Scapes - Like the home landscape, the street-scape is significant.  People tend to feel more "at home" in a neighborhood that has sidewalks and tree-lined/shaded streets.  Developers have figured this out too.  That's why more and more new neighborhoods are designed to have that "main street" look and feel.  These new "main street" neighborhoods also come with a large price tag.  So the new builders have figured it out.  Build something new that looks and feels "established" and people will pay as if they are in an "historic district", but, they are not.  Still they have the newness advantage but it may take years to establish all of the above advantages of those pre-loved homes and neighborhoods.
   
   
7. Serious Problems have been Revealed  -  Occasionally construction and safety issues can take a year or two to become apparent.  Such things as unevenly settling foundations, water table, and sink holes to name a few can be serious problems that may only become obvious after a few years of living in a house.  These items can generally be resolved but often come with great incovenience and expense.  Less serious problems like twisted studs, nail pops and plumbing leaks may present themselves earlier.  These will not always become detected by a general inspection for new construction.
   
   These issues are more obvious on most existing homes and home inspectors will should catch and flag these things.  Or they have been dealt with and noted in the Property Condition Disclosures.  The buyer has the opportunity to accept, reject or allow the seller to improve the condition of the house based on the knowledge of the inspection since the defects have become apparent over time.
   
   Whether buying new or a resale the buyer needs to have all the necessary inspections performed.  The new construction will come with a builders warranty and the resale can have a first year home warranty paid for by either party depending on how it is negotiated.  

When all is said and done there are advantages and disadvantages to both new and resales.  Each buyer will have to determine what is most important to them.   Home sellers need to consider something even more important.  When it comes time to sell your home, make sure that your agent knows the advantages of a pre-loved home and that they can sell the benefits of owning your home to potential buyers.  

If you want more information about your homes current value or want to know our resale home marketing advantage give us a call or simply click here to get an instant market analysis and fill out the form for an in-depth analysis.