{"id":5876,"date":"2019-12-15T11:51:08","date_gmt":"2019-12-15T16:51:08","guid":{"rendered":"https:\/\/dankrell.com\/blog\/?p=5876"},"modified":"2019-12-15T11:51:13","modified_gmt":"2019-12-15T16:51:13","slug":"new-home-or-resale-for-you","status":"publish","type":"post","link":"https:\/\/dankrell.com\/blog\/2019\/12\/15\/new-home-or-resale-for-you\/","title":{"rendered":"New Home or Resale for You?"},"content":{"rendered":"\n
\"new<\/a>
First time home buyers (infographic from nar.realtor)<\/figcaption><\/figure><\/div>\n\n\n\n

No matter what items a home buyer has on their wish list, they are typically constrained by the home price<\/a>. \u00a0As a result, the buyer is often limited in their choices.\u00a0 Accordingly, buyers prioritize home features and benefits when comparing homes. Deciding between a new home or resale becomes a part of the buying process. <\/p>\n\n\n\n

Nonetheless, home buyers often have a choice between a new home or resale.\u00a0 Besides the allure of contemporary design and modern building materials, the benefit of new construction is the minimal maintenance during the first year of ownership.\u00a0 Although many home buyers desire to buy new construction, the combination of their budget and criteria lead them to a resale home.\u00a0 <\/p>\n\n\n\n

A resale refers to a home that is being sold by a\nhome owner, rather than the builder.  The\naverage age of a resale home can vary depending on the location.  It\u2019s not uncommon to find a resale in a new\nhome development.  However, when resale\ncomes to mind, most think of homes where they grew up.<\/p>\n\n\n\n

Although the home buying budget<\/a> is a main consideration, there are other reasons why home buyers decide to purchase a resale rather than new construction.\u00a0 One of the main reasons, as stated above, is that the resale fits their criteria for price, location, size, etc.\u00a0 It\u2019s typical to get more house and yard when purchasing an older home, when compared to a new home of similar price.\u00a0 Resale homes tend to be located in established neighborhoods, whereas new home developments\u2019 amenities are often not yet completed.\u00a0 <\/p>\n\n\n\n

Regardless, some home buyers are attracted to older homes<\/a>.\u00a0 It seems as if there is a correlation between a home\u2019s age and the charm it exudes.\u00a0 The older the home, the more likely a home buyer is captivated by its charm.\u00a0 When explaining a home\u2019s \u201ccharm,\u201d buyers usually describe a combination of style and craftsmanship.\u00a0 They often refer to the saying \u201cthey don\u2019t build them the way they used to.\u201d\u00a0 <\/p>\n\n\n\n

Although most home buyers want a turn-key home, some\nbuyers find opportunity in older homes that are in need of repair or\nupdating.  These buyers feel they can\ncreate a home that meets their needs and lifestyle without breaking their\nbudget.  <\/p>\n\n\n\n

When buying a resale, don\u2019t expect the home to be perfect, even if the home is relatively new or has been renovated.\u00a0 There is no getting around the fact that living in a home promotes wear-and-tear.\u00a0 Consider that a home is made of many components each having a limited life span.\u00a0 Regular maintenance <\/a>can prolong a home\u2019s life.\u00a0 However, you will eventually have to replace components and systems.\u00a0 <\/p>\n\n\n\n

Resale homes are not maintenance free, and deferring maintenance creates costlier repairs.\u00a0 Experts recommend that you have a repair budget.\u00a0 You shouldn\u2019t just budget for regular maintenance and repairs, you should also budget for future updating.\u00a0 Ask your agent about a home warranty that can help you with repairs on a fixed service-call fee.\u00a0 Get a thorough home inspection<\/a>.\u00a0 Home building has changed dramatically over the last one-hundred years, so make sure you hire a licensed inspector that is knowledgeable with the engineering and materials in your home.\u00a0 (Keep in mind that home inspectors are not perfect, so there may be a chance of finding conditions that eluded the inspection.)\u00a0 Even if the home appears to be in good condition, the inspection is likely to find items in need of repair.\u00a0 You and your agent can decide on the best negotiating strategy of inspection repairs.\u00a0 <\/p>\n\n\n\n

Original article is published at https:\/\/dankrell.com\/blog\/2019\/12\/15\/new-home-or-resale-for-you\/<\/p>\n\n\n\n

By Dan Krell
Copyright\u00a9 2019<\/p>\n\n\n\n

If you like this post, do not copy; instead please:
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Disclaimer<\/a>.\n This article is not intended to provide nor should it be relied upon \nfor legal and financial advice. Readers should not rely solely on the \ninformation contained herein, as it does not purport to be comprehensive\n or render specific advice. Readers should consult with an attorney \nregarding local real estate laws and customs as they vary by state and \njurisdiction. Using this article without permission is a violation of \ncopyright laws.<\/p>\n","protected":false},"excerpt":{"rendered":"

No matter what items a home buyer has on their wish list, they are typically constrained by the home price. \u00a0As a result, the buyer is often limited in their choices.\u00a0 Accordingly, buyers prioritize home features and benefits when comparing homes. Deciding between a new home or resale becomes a part of the buying process. … <\/p>\n

Continue reading “New Home or Resale for You?”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[39,174,348,270,405,470,13,650],"tags":[814,909,490,488,937,797,986],"class_list":["post-5876","post","type-post","status-publish","format-standard","hentry","category-first-time-home-buyer","category-first-time-homebuyer","category-home-builder","category-home-buyer","category-homebuyer","category-new-homes","category-real-estate","category-resales","tag-first-time-home-buyer","tag-home-builder","tag-home-buyer-2","tag-new-home","tag-new-homes","tag-real-estate","tag-resales"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p1VZLf-1wM","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/5876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/comments?post=5876"}],"version-history":[{"count":3,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/5876\/revisions"}],"predecessor-version":[{"id":5885,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/5876\/revisions\/5885"}],"wp:attachment":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/media?parent=5876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/categories?post=5876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/tags?post=5876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}