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Buy New or Resale?

Many families struggle with the the choice of new or resale, when considering their next home. Resale and new builds each have their perks and draw backs. Resale normally allows the buyer to move into a well established neighborhood and new homes are in the less established areas. Resale homes come with no warranties, except perhaps roof or some newer appliances, while new homes come with structure, appliance and many times landscaping warranties. Buyers need to be aware of location and amenities they are wanting. If buyers want more amenities, such as a community pool, parks, community center or fishing ponds, these will normally come with a Home Owner's Association. These associations help pay for their amenities through monthly, quarterly, or yearly homeowner dues that are not included in the mortgage payment. New home communities are frequently accompanied by a HOA's, so be aware if this is not something you want. If buyers are short on up front funds, a new build will be more fiscally realistic, as most builders provide closing cost incentives. In our current market, it is rare to have sellers of resale homes pay for any closing costs. Evaluating how the buyer feels about these things will point them toward the type of home that would fit their wants/needs best. #newhomes #realestate #firsttimehomebuyer


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