Should I Buy A Resale Home Or Build New?

By
Real Estate Agent with RE/MAX Elite 513.520.5305 www.LizTour.com SAL.2002007747

resale or new?You're ready to make a change from your current home.

There's a lot to consider and one of the chief decisions to make is Resale or New Construction?

Resale homes are out there, no matter what the market.  They may be scarce or plentiful, but there's always some out there.

New construction reacts to the economy.  When the economy is depressed, new construction slows WAY down, and for certain builders pulls the curtains on their existence.

 

Whether to buy resale or new construction is going to come down to several key factors:

1.  Your budget.  Depending on desired location, there may be no builder offering anything in your price range.  E.g. if you want new construction in Mason Ohio, expect to pay AT LEAST in the mid to upper $300s.

2.  Desired location.  Some areas have little to no new construction.

3.  Timeframe.  If you're on a shorter timeframe, new construction is probably off the table unless there are some almost finished or finished homes by the builder.

4.  Whether you need to sell your existing home.  While builders aren't going to allow the sale of your home to be a contingency, if the market is decent you can build and use the build time to get your home sold.  Yes, it probably means a double move for you, but it's an option. 

5.  Your specific needs for your home.  Are you more mainstream or have custom needs?

 

If you're considering buying in a subdivision that has both resale and new, resale may offer the better value because those sellers are more likely to HAVE to sell.  And when that happens, often they need to undercut the builders to make their home more appealing. 

 

 

Interested in having us help you sell your home or help you buy a home? Just give us a call/text at 513-520-5305 or email Liz@LizSpear.com. 

We look forward to hearing from you!

Bill of Bill & Liz aka BLiz

 

 

Posted by

Serving Warren County Ohio & Adjacent Areas

 

The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

Search Homes:  Https://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

 FacebooktwitterWordpressYouTube Pinterest

 

 

 

 

OUR SERVICE AREA:


View Liz Spear Team of RE/MAX Elite Primary Service Area in a larger map

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Ohio Warren County
Tags:
new construction

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
3,172,570
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Bill excellent advice, here in my market if you buy a home that needs updating approval time is six to eight months...can you believe that? When it comes to building from scratch now you are looking 1.5-2 years... for approvals... Endre

May 25, 2019 11:36 PM #1
Rainmaker
3,237,515
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Bill(and Liz too) - while the allure of new construction is not only understandable, there is something quite special about "being the first one to live in a particular place".  Having experienced both, there are advantages and disadvantages for sure.  Your strategy is about getting homebuyers closer to the truth that works for them.  In this situation.  At this time.  Isn't that what we want?

May 26, 2019 09:47 AM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
2,640,923

Liz and Bill Spear

RE/MAX Elite Warren County OH (Cincinnati/Dayton)
How Can We Help You? Just Let Us Know!
*
*
*
*
Spam prevention

Additional Information