Thursday, September 9, 2010

The Advantages of a New Home vs a Re-sale Home

One of the primary advantages of buying a new home is the ability to get specifically what you want. You can decorate your home from the beginning exactly the way you want. You can pick all the colors, which range from paint to carpet. You can also make the tile and cabinetry selections for the kitchen and bathrooms, not to mention the hardwood, countertops and lighting.

Often, new homes will have more modern conveniences, better insulation and can be more energy efficient. Everything is new, including the windows, roof and the furnace – and they come with a warranty! Future repairs and upgrades are not a concern with a new home warranty. No need to worry about replacing furnaces, shingles, flooring etc.

Plus, owning a new home means a fresh start – no need to clean up someone else’s mess and decorating disasters in a dated or washed-out home.

People may have the false impression that the cost of a new home in more than a re-sale. This isn’t necessarily true. Many home sellers set high prices on their re-sale due to lack of market familiarity or the need to get more than its value to repay what is owed on it.

In some cases, when buyers think they are getting a ‘great deal’ on a discounted home that is under power of sale, it often turns out to be a costly mistake. Especially when you consider the work required to bring the home back to a livable condition.

Do your research on what your price range will buy and compare what you get with a new home. (And don’t forget one last advantage – Peace of mind!)

Linda Watson