This will be the last section to this series, to recap; I touched upon Location, Amenities, Size, Technology, Efficiency, and Maintenance.
Interiors
New homes are literally like a blank slate. You pick everything, from paint colors, flooring, window coverings, cabinetry, etc. You customize everything to your heart’s desire, and within your budget.
Resale homes can either do it for you or not. By this I mean, the decor will be great and you can imagine how you can design it yourself. Resale homes often include window coverings, light fixtures and appliances, which can help save you some money.
Health and Safety
New homes feature materials to keep the space healthy. For safety features, new homes have hard wired smoke detectors on every level, and sturdier electrical power systems that can deal with heavy electrical demands.
Resale homes might not have all the safety features a new home will have. You will have to find out all the information you can about the home, such as how it was maintained and any structural problems or issues. Before your final decision, have the home inspected.
Price
New homes are generally more expensive than resale ones; considering that the cost of materials, labour and land have increased.
Resale homes are priced with a few factors kept in mind; location, condition and current market selling trends. Prices for these homes are influences by neighbourhood desirability or closeness to the downtown core. When the resale home is renovated, it can account for larger price variations within the same neighbourhood.
Future Development
New homes are built in a subdivision; however it is not always the end of construction. If there is a vacant land near your house, chances are the land is set to be developed in the near future.
Resale homes are not subject to the same kind of development going on in the suburbs. Neighbourhoods will remain intact; however there might be future road projects which can affect the value of the home and your accessibility.
After reading this mini-series, I hope it helps you make a decision you can be proud of, whether you choose to buy a new home, or resale home.
Continuing Series:
New Homes or Resale Homes Part 1
New Homes or Resale Homes Part 2
Glen Chapman
Broker of Record with Club “100″ GMAC Real Estate
www.club100realestate.com
