New Home or Resale?
There are many factors to look at when determining whether to buy a new
home or a resale home, your lifestyle and what is important to you can
be the biggest considerations. Look at both their pros and cons before
you decide what is right for you.
New homes certainly have their appeal, a turnkey experience that many love, they have many offerings the home is brand new and no one has lived in it yet! You move in and decorate it, not re-decorate and if you buy your new home early on in the process you may have some say in finishes in the kitchen and bathrooms etc. Open floor plans and updated living spaces with clean, modern designs are desirable, as well as a spacious kitchen, luxurious bathrooms, walk-in closets and main level or bedroom level laundry.
Prices of new homes are usually more expensive per square foot than resale homes and the prices are non negotiable, possession dates can be inflexible for buyers and at times can be delayed by the builder. New homes can usually be found on the outskirts of town or in the suburbs and keep in mind the neighborhood infrastructure may not be well developed. You are responsible for paying extra for any upgrades you might want, however a new home will be energy efficient which should keep your maintenance to a minimum.
Resale homes can be found in established neighborhoods that are often lined with mature tress and landscape and have greater access to transit, and can be closer to schools, stores and community centres. Resale homes are full of charm and character and can have high ceilings, built in cabinetry and most resale properties will come with all window treatments in place unlike new builds.
Resales are typically less expensive per square foot than new homes and prices are negotiable depending on market conditions and how motivated the seller is. You can move in faster with a resale home as it is already built but keep in mind maintenance will always cost more with a resale and you may need to budget more money for any renovations for the home after its purchased.
A house is the largest purchase that you will ever make and whichever you choose, you must have confidence that you will be happy living there for years to come.
*NOT INTENDED TO SOLICIT BUYERS OR SELLERS CURRENTLY UNDER CONTRACT*
New homes certainly have their appeal, a turnkey experience that many love, they have many offerings the home is brand new and no one has lived in it yet! You move in and decorate it, not re-decorate and if you buy your new home early on in the process you may have some say in finishes in the kitchen and bathrooms etc. Open floor plans and updated living spaces with clean, modern designs are desirable, as well as a spacious kitchen, luxurious bathrooms, walk-in closets and main level or bedroom level laundry.
Prices of new homes are usually more expensive per square foot than resale homes and the prices are non negotiable, possession dates can be inflexible for buyers and at times can be delayed by the builder. New homes can usually be found on the outskirts of town or in the suburbs and keep in mind the neighborhood infrastructure may not be well developed. You are responsible for paying extra for any upgrades you might want, however a new home will be energy efficient which should keep your maintenance to a minimum.
Resale homes can be found in established neighborhoods that are often lined with mature tress and landscape and have greater access to transit, and can be closer to schools, stores and community centres. Resale homes are full of charm and character and can have high ceilings, built in cabinetry and most resale properties will come with all window treatments in place unlike new builds.
Resales are typically less expensive per square foot than new homes and prices are negotiable depending on market conditions and how motivated the seller is. You can move in faster with a resale home as it is already built but keep in mind maintenance will always cost more with a resale and you may need to budget more money for any renovations for the home after its purchased.
A house is the largest purchase that you will ever make and whichever you choose, you must have confidence that you will be happy living there for years to come.
*NOT INTENDED TO SOLICIT BUYERS OR SELLERS CURRENTLY UNDER CONTRACT*
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