Five Reasons to consider a resale home in a new construction community
A 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:
- You choose the lot.
- You choose the options.
- Everything about the home is brand new - from mechanical systems to carpet and paint.
- No one else has ever lived in the home before and it's like a blank slate, just waiting for your personal touch.
- Builder incentives (closing help, "free" options, etc.).
Five reasons to buy a resale home in a new community:
- 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.
- 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.
- Everything about the home is nearly brand new and probably still under warranty.
- 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.
- 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.