Advantages of Selecting a New Home
Whether you’re a first time home buyer or have made many purchases in the past, buying a home involves big decisions. One of them is: should you think about getting a brand new home instead of a home that’s been lived in by others?
It’s thought that one out of four Canadian home buyers buys a new, custom built house from a builder or a developer instead of purchasing a re-sale home. Here’s why they do it.
• The chance to upgrade or change just about anything in a new property, is one of the biggest advantages individuals say there is when buying a new home.
• As all the homes are new, there are few homeowners that already have friends in the neighbourhood, giving you all the opportunity of having a unique friendship.
• When buying a property that has already had owners, previous repairs or renovations may not be to the best standards. New homes on the other hand tend to be built safely, so repairs and remodelling usually don’t have to be budgeted for as soon as you move in.
• The electrics of a new building are completely new and of a decent standard so you know they do not need checking or replacing; along with high energy-efficiency standards, this makes new homes an attractive buy.
• More often than not, new homes are going to take a while to be built, giving you time to sort out where you are currently living, compared to re-sale properties which often close within the month.
Why do People Want to Choose a Re-Sale House?
Why would you want a used house, what reasons are there to purchase a home that has had multiple owners? While a shiny, newly built property has its charm, there are many excellent reasons for purchasing a re-sale property. Listed are the primary reasons why re-sale homes remain at least three times as popular as new ones:
• With a new home, there is frequently building work continuing for months and even years after you have moved in.
• New builds hardly ever come with a landscaped garden or even a driveway, therefore those who buy new builds need to factor this expense into their budget.
• New homes are a empty canvas, whereas re-sale homes often have personality whether that is the landscaped back yard or something like a fireplace built against a wall.
• One drawback of a new building is the ‘settling’, it can take a couple of years for the house to settle, as a result cracks can appear or leaks start as the plumbing moves slightly; this is rarely seen in an re-sale home.
• On top of a purchase price, home buyers have to budget for closing fees, which are frequently more expensive for new builds.
• Your home is likely to contain most extras already, from drapes to light fixtures.
• Value for money – there is often more value in a re-sale house as the previous owners will have usually put additional work into the property. Resale property may be a challenging real estate investment opportunity.
Whether you’re a first time home buyer or have made many purchases in the past, buying a home involves big decisions. One of them is: should you think about getting a brand new home instead of a home that’s been lived in by others?
It’s thought that one out of four Canadian home buyers buys a new, custom built house from a builder or a developer instead of purchasing a re-sale home. Here’s why they do it.
• The chance to upgrade or change just about anything in a new property, is one of the biggest advantages individuals say there is when buying a new home.
• As all the homes are new, there are few homeowners that already have friends in the neighbourhood, giving you all the opportunity of having a unique friendship.
• When buying a property that has already had owners, previous repairs or renovations may not be to the best standards. New homes on the other hand tend to be built safely, so repairs and remodelling usually don’t have to be budgeted for as soon as you move in.
• The electrics of a new building are completely new and of a decent standard so you know they do not need checking or replacing; along with high energy-efficiency standards, this makes new homes an attractive buy.
• More often than not, new homes are going to take a while to be built, giving you time to sort out where you are currently living, compared to re-sale properties which often close within the month.
Why do People Want to Choose a Re-Sale House?
Why would you want a used house, what reasons are there to purchase a home that has had multiple owners? While a shiny, newly built property has its charm, there are many excellent reasons for purchasing a re-sale property. Listed are the primary reasons why re-sale homes remain at least three times as popular as new ones:
• With a new home, there is frequently building work continuing for months and even years after you have moved in.
• New builds hardly ever come with a landscaped garden or even a driveway, therefore those who buy new builds need to factor this expense into their budget.
• New homes are a empty canvas, whereas re-sale homes often have personality whether that is the landscaped back yard or something like a fireplace built against a wall.
• One drawback of a new building is the ‘settling’, it can take a couple of years for the house to settle, as a result cracks can appear or leaks start as the plumbing moves slightly; this is rarely seen in an re-sale home.
• On top of a purchase price, home buyers have to budget for closing fees, which are frequently more expensive for new builds.
• Your home is likely to contain most extras already, from drapes to light fixtures.
• Value for money – there is often more value in a re-sale house as the previous owners will have usually put additional work into the property. Resale property may be a challenging real estate investment opportunity.
Filed under News by on Aug 17th, 2011. 