Profile picture for davidjosephwilliams

new or used home?

Should I buy the new or used home? Myself like to have new home.
David
  • January 11 2011 - The Villages
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Answers (21)

I personally like the best of both worlds...when an older older has been professionally renovated from top to bottom.
  • June 27 2011
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The New Homes in The VIllages have a huge bond associated with them which is over $20,000 on top of what the sales price is. That is why so many people buy the pre-owned homes to get a lower bond or no bond. Also, preowned homes are in more established areas of The Villages and you have the luxury of buying in the area where you want to live rather than only where they are building new homes.
  • June 22 2011
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I love new homes, but in this market they are a tough purchase. I would feel much better buying a used home and remodeling it, especially if I am able to pick it up at a short sale or below market value price. On the other hand, if you feel that you are not planning on moving for at least 7 years, a new home purchase just might be okay! : )
  • January 20 2011
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Profile picture for ColleenPye
If you like a newer home.. buy when the neighborhood is new.. or a close
out section... sometimes a house that is a few years older in a newer 
 community make have some THOUGHTFUL upgrades and are now competing with new homes.. I encourage you to look at them.
  • January 19 2011
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Open your heart to new experiences and your mind to new ideas.  View both new and re-sale properties with enthusiasm and energy.  Learn more about houses and about yourself, your needs, your wants before you make a final decision.  Whenever you decide, what ever you decide, have it inspected as many ways as possible!
  • January 17 2011
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It's really a matter of preferance. Some people like new homes because they won't have to make any repairs for a while. New plumbing, electrical, etc.  Some don't mind and prefer older homes because they tend to have more character but they have to keep in mind that updates may be due in the near future.  A new home, however, may be more costly than an older one depending on condition, etc..  There are pros and cons to both, it just depends on what YOU like..
  • January 17 2011
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Profile picture for Sharon Lewis
Simple answer, do you like the 'look' of new homes? I have clients who dislike them, saying they all look alike and they are choosing to move into neighborhoods where the homes have some character. I prefer older homes.Yes, there might be a bit more maintenance to begin with but in the long run I think an established neighorhood with bigger trees is much more interesting than the new homes with a stick planted in the front yard that will take ten-15 years to grow before it looks nice and by then the home is older.
  • January 16 2011
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I think everyone would prefer new or newer but the real decision will be based on what is available in the price range and area your are looking to buy. If you buy used you should have the proper inpections by licensed professionals to provide assurance that the property is not in need of immediate reapirs.
  • January 12 2011
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Profile picture for wfamilyman
I like homes that were built 5 or 6 years ago.These homes have upgrades that the owners put in after they purchased new.New hardwood floors,lighting fixtures,blinds, curtains outdoor patios and landscaping etc...After all this work,their adjustable rate  mortgage adjusts and they can no longer afford the home.This is when  you make them a offer that is about 150,000.00 less then what they put into it.They get to save themselves from bankruptcy and  you have a home that hopefully will serve your family for years to come.
  • January 12 2011
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In this type of market, I would recommend a buyer purchase a home that gets them the best value for their money.  There are lots of resale homes on the market that will allow you to get more square footage in established neighborhoods for the same price as a new home.  In addition, buying resale will help you in the area of instant equity.  It will be very hard to get equity in a new home, but there is a greater chance of you getting some equity in a resale home even in this type of market.  I wish you the best of luck with your decision. 
  • January 12 2011
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there are some amazing "used" homes out there right now- many you can get for less then the owner paid-   I think it is a personal choice for the buyer-  but if you can get a 2 or 3 year old home for less then the same home new- why wouldn't you?
  • January 11 2011
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Profile picture for ethelita
No doubt about it....an older house has more character and, in many cases, better quality construction.  I've recently been "house-hunting" and, although the new houses appear bright, airy and spacious with open floor plans that lend themselves well to entertaining, I'm leaning toward a house that was built in the 50's with many built-ins, a beautiful wood-burning fireplace, crown molding and overall solid construction.
  • January 11 2011
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Profile picture for Diane Byrne
There's certainly an argument for either new or used and it all depends on the Buyer's needs and wants, lifestyle, budget, and desired location.  A used home often is usually located closer in the city and provides a better opportunity for using public transportation or walking to nearby business.  Plus an older home has more character, just like people!  Often times you have classic exterior architecture and a modernized interior.  Plus, many items area already in place like landscaping an window coverings preserving your cash.  That being said, an older home may also need remodeling and may not be built with the best energy efficient materials.  And older homes often don't have modern floorplan detailing like additional bathrooms, walk-in closets, and enclosed garages.

A new home, while it lacks character, is a blank slate for the homebuyer to personalize to their exact preferences.  There are many advantages to purchasing a new home when it comes to modern floorplan details and features,  not to mention better  energy efficient materials.  And pardon the reference but a lot of new homebuyers like to know they were the first to use the bathroom fixtures, if you know what I mean!  One additional thing to consider when purchasing new is that you will most likely be in outlying area, where everything is being built new.   It may take awhile for all the day-to-day conveniences to materialize.
  • January 11 2011
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Profile picture for blank screen EXILED
Myself, I prefer 1890's through 1930's.  Some 1950's are OK too.  Construction material differ in each generation, and craftsmanship and tools use change over time too.

If you like things that are easy to break, but meet present codes, then you might consider "new" if you like all the extra hassles and headaches and spending 20% to 60% premium for that.

For things that are older, the things that usually break have already been addressed at least once, and you likely know what you are getting.  And often a good repair will substantially outlast the original construction.

If you are concerned about things meeting present codes, you may want to do something about energy efficiency, and maybe even consider replacing older electrical devices.

If you do decide to buy an older structure, make sure you check the foundation and the roof framing, sheathing, and roofing materials.  Also don't forget to run a video camera down the sewer line.

Regardless if you buy new or used, you still need a home inspection, and you still won't really know what is inside the walls nor under floor slabs.  And you still want to check the site grading to make sure water is draining away from the house and not towards it.

Don't forget, if a house is going to "sink" from a soils issue, you likely won't know with "new construction" (at least not without the soil engineer's report at time of site preparation), but with existing, most settlement that will occur has already occurred.  The exception is tree removal near a house, where rotting tree-roots under a house cause the building to sink.

Termites?  Often they get in the wood during construction when building supplies are carelessly placed directly in the dirt.  At least with existing, you can determine the extent of the damage and wood that needs to be replaced.  With new, you won't see it for a few years, even though the problem is already there.

So, really what you are asking, is do people like particle board furniture from Ikea, or do they prefer solid oak or walnut that was designed for durability?
  • January 11 2011
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It depends on the area you're interested in.  In my area, there isn't much new construction, as the whole area was pretty much settled in the 50's - 70's (Clearwater and surrounding beaches.)  So, if people want new construction, they need to look inland into areas that are farther out and the drive is longer to shopping, entertainment, beaches, etc.  As a result, the buyers who want all the amenities are willing to look at older construction.
  • January 11 2011
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Profile picture for sunnyview
I prefer older homes. I think that the lumber is better, the walls don't warp, the issues with Chinese drywall/recalled pipe/insulation systems that create black mold are almost nonexistant and they are usually in established areas that I prefer unless the new construction is custom infill.

As buyer you should buy what you like, but you should still be sure to get any new home you buy inspected. New does not mean no issues.

  • January 11 2011
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It seems as if you have already made your decision.

I went through a major renovation a few years ago.  Basically, we rebuilt and converted a small 2 bed 50 year old cape to a 5 bedroom colonial.  For all intents and purposes it was new construction. 

I would say there are no less headaches now than when we had a home that was decades old.  Even our new state of the art furnace/air conditioning unit has been giving us issues. 

If the reason you want to go new is for the psychological benefit of being the first owner in a home, go for it.
If the reason you want to go new is because you think the continuous headaches of homeownership will be easier, rethink it.

Also, its true what Dan has stated about quality of new homes these days.  Builders are in it to shoot the homes out as and sell them as quickly as possible, as cheaply as possible and make the most profit possible.  The reputation of some builders is obviously a lot better than others so its important to do your research.

Best of luck with whatever you decide to do.
  • January 11 2011
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Profile picture for the_country_hick
One thing to consider when making that decision is that often builders use crap when they can get away with it. They use builders grade flooring and carpeting as an example. The reason they are builder grade is they are not good enough for any buyer to ever consider them. They have relatively short lives compared to the good stuff.

Get a parts list of what was used when building a house. If it is the cheapest stuff available it may not last as well as you would think.
  • January 11 2011
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Well people are buying either or....

Everyone has different preferences. I see a lot of First Time home Buyers looking into New Construction, remember you have to pay a one time Transfer Tax but now Builders are in a Finiancial crunch too with there properties that if you get a good Realtor on your side you can get some great deals too!

For used Homes/Resales people are also looking for a bargain or handyman specials, shortsales, Foreclosures. Every Buyer is different in this Market!

Best of Luck!

Millie
Exit Realty
  • January 11 2011
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Profile picture for wetdawgs
It is a personal decision.   We've done both.   The first year is kicking the tires and chasing  the builder down to make sure everything is completed.
  • January 11 2011
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You'll usually pay a premium for new construction vs. a resale home.  That premium is ok with some buyers, though, for the value of any builder warranty and brand-spanking-new everything.

Some new construction builders are selling off homes at discounts right now, though, with the construction lender allowing short sales to get the loans off their books.
  • January 11 2011
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