Buying a Home - New vs Resale

When buying a home the largest decision that you will have to make is the choice of whether to buy a new home or a resale home. There are specific concerns that relate to both options so a smart buyer should take the time to consider the pros and cons of each.

Many people buy new construction homes without an inspection and that is a big mistake. Just like resale homes there can be issues relating to the home's systems or structure; although they are generally issues that are results of the home's construction, not wear & tear. In a real estate market where new homes are springing up overnight, a major concern is the quality of construction.

When purchasing a resale home the home inspection is essential.  A home inspection will let you know of any issues that have developed in the home over its lifetime.  Common problems are things like: a leaky roof, cracks in the foundations, mold, easements or liens and old or out of date appliances.  Resale homes are usually located in a well developed area with good access to schools and community services like shopping, recreation and entertainment.  Any issues that come up during an inspection can easily be used as bargaining chips during the offer process.  Typically you should be able to make the passing of a home inspection one of the major subjects in the purchase.  If something does not pass the inspection it is either the owner's responsibility to fix or the owner can decrease their price enough so that the buyer can fix it.

We'd be happy to discuss other pros and cons of new construction homes versus resale homes.  If you have specific questions about new homes vs resale, leave your comment below by clicking on the "comment" link.