Deciding Between Buying A New Home Or Resale?

When you begin looking at homes for sale, you will learn that many of the homes available on the market are re-sales. However, one fourth of homebuyers purchase a brand new home. Of course, both resale homes and new homes offer numerous advantages. Before you make a decision, ensure that you are well informed and consider these, and other important comparisons.

New Homes

• Typically provide an innovative use of space and offer modern styling
• Tend to be more energy efficient than older homes
• Can provide you with choices for upgrades or other options
• All aspects are new and contemporary

Resale Homes

• Are typically less expensive than new builds
• Are often in established neighborhoods with established landscaping and mature growth
• Have settled already, thereby preventing the surprise of problems arising from the settling process

If you are considering purchasing a brand new home, please consider these 10 points before visiting a model home or considering a new build for your next home purchase.

• Call your WPG advisor
• Clarify your advisor scope of representation
• Research the builder craftsmanship
• Know facts about the builder
• Consider the neighborhood
• Options/Upgrades - crucial as it may increase purchase price drastically
• Negotiation- yes you CAN negotiate with the builder
• Contract should work for you
• Determine the best financing program
• New is not the same as perfect

Some builders already have completed newly constructed homes that could be ready to move into in as little as a month. Although a builder always wants to sell, some keep this information private.

It is a good idea to inquire about immediate delivery homes because sometimes those homes come with special financing programs or free options. These incentives might be in lieu of slashing prices to appeal to buyers who will be purchasing later on. An immediate delivery home is an excellent option if you must move in quickly or want to view the exact space you will be purchasing.