New, or Previously Owned Home?

Model Homes This WayTouring model homes is fun – even inspirational!  They are perfectly decorated and have all of the most current upgrades possible. So, it is an easy leap to want to buy a new home vs. a resale home.

But, is that impulse supported by experience?

True, with a new home you get to choose your colors and textures.  Of course, everything is new.  After you spent all of your cash (and some of your parent’s) for down payment and closing costs you’ll find out that YOUR new home has no window treatments, sprinklers or landscaping.  Unless you already have your ‘frig, washer and dryer, you’ll get to buy those too. Then, AFTER you moved in you will see what kind of neighbors move in around you.

A resale home’s windows has shades or curtains, sprinklers and mature landscaping. Sometimes a seller will offer the ‘frig, washer or dryer for a nominal fee.  They may even agree to pay some of your closing costs. The personality of the neighborhood is quickly discerned before you buy the home.  You may not love the colors or, want to remove a bush or trim back a tree but those minor changes can be done as you have the time and means.

When you include a Home Warranty with a resale purchase, virtually all of the used components are covered: ‘either repair or replace’ is how that policy works.

What is your opinion?

Enhanced by Zemanta