Five Reasons to Consider Resale vs. New

By
Real Estate Agent with Long & Foster Real Estate, Inc.

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.

Posted by

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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Rainmaker
3,360,470
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

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

Jan 02, 2016 10:39 PM #1
Rainmaker
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Richard Weeks
Dallas, TX
REALTOR®, Broker

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

Jan 02, 2016 10:45 PM #2
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Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

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!

Jan 02, 2016 11:06 PM #3
Rainmaker
4,320,054
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

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

Jan 02, 2016 11:06 PM #4
Rainmaker
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Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

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

Jan 02, 2016 11:28 PM #5
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Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

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

Jan 23, 2016 03:06 PM #6
Rainmaker
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Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

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

Mar 19, 2016 03:45 AM #7
Rainmaker
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

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

Mar 20, 2016 03:21 PM #8
Rainmaker
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Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

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.

Apr 02, 2016 02:46 AM #9
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Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation

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

Apr 02, 2016 02:50 AM #10
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