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Is It Better For First-time Homebuyers to purchase New Homes or Resale Homes?

 

There was a point in time when the purchase of new home was always much more expensive than resale home. Until recently, that has all changed. As land costs increase, the size of new home lots has shrunk. Especially in Florida were it seems like every year the population doubles and the traffic in the roads increase. Furthermore, land becomes more value when the supply reduces. Construction materials have also become cheaper in order to attract the buyer. There are many things that go into place when determining whether or not a new home or a resale home is the right choice for you. The final decision will depend on each individual buyers needs.

 

Pros to Buying a New Home 

  • Less maintenance
    New construction is meant to last for a while, so new-home owners are not likely to install a new roof or replace the water heater.
  • Modern updates
    Many items are standard such as built-in dishwashers, refrigerators, microwaves, and wine coolers. They can feature master suite baths, workout and media rooms. Also, the home’swiring systems are networked.
  • Warranty offered by builder
    In Florida builders are required to give buyers a 3 to 5 year warranty. The first line of defense is to buy from a reputable builder who will agree to stand behind the structure and its components.
  • Energy efficiency
    In addition, Florida being the “Sunshine State” many homes are being built with solar panels that can turn back the electric meter. New appliances use less energy. Walls, ceilings, ​and floors are insulated. Dual pane windows retain more heat in winter and keep the home cooler in summer.
  • Built to code
    Code regulations change all the time. Consumer safety issues are continually addressed in new construction and conform to building codes.
  • Emotional factor of newness
    Let’s face it, there’s nothing like owning something that’s brand new and has never been used, whether that’s a car or a home. Also check out  5 Signs That You’ve Found The Right Home For You for some tips about your emotional mindset when buying a home.

 

Pros to Buying a Resale Home

  • Older construction
    Older homes have stood for decades, some centuries, and weathered many storms. Some were built by hand by genuine craftsman with meticulous attention to detail.
  • More land
    Years ago, when land was cheaper, builders built on larger lot sizes, leaving room to accommodate garages on alleys.
  • Special architecture
    Craftsman bungalows originated in California in the 1890s, but now they’re ubiquitous across the U.S. Other popular styles are Victorians, Greek Revivals, Tudors or Colonials. Interesting architectural features are abundant in these homes such as arches, hand-carved decorative appointments, or stained-glass windows.
  • Longer-term neighbors
    Due to some older homes are passed down through generations. Many neighbors know each other. This might be one thing you want to consider.
  • Established neighborhood
    Zoning changes are unlikely to occur in older areas. Hooters restaurants don’t fare well in residential.

Every Case Is Different

When determining what type of home to purchase it is important to focus first on your needs and affordability. Of course there are also some cons that come with the pros but you must sacrifice one for the other. Take some time to make a sit about what you truly need and what you would like in your next home. Take into consideration things such as; location, family size, safety, accommodations, and the type of neighborhood. In addition, be confident that the decision you make is the right one and be excited to create and treasure memories for years to come in a place you can call home.

The Best Apps for Moving to your New Home

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Here at Premium Properties, we’re always looking for the best ways to help our clients. That’s why we are the best real estate company in Central Florida!

Any questions? Please feel free to reach out to us:

Premium Properties Real Estate Services

564 N Semoran Blvd Orlando, FL 32807

Call us (407) 380-2800 or visit www.premiumproperties.com