Tuesday, December 16, 2014

New Construction or ReSale?

Which is better for you, a newly constructed energy-efficient house? or something older with lots of Old World Charm and architectural detail? Each has its proponents and its detractors. Here are some considerations for you as you weigh this decision:

New Home PROS
·      Contemporary style
·      Some flexibility on design during construction phase
·      Cheaper to maintain (new appliances = fewer repairs)
·      Cheaper to operate (energy-efficient construction)
·      Extended warranties
·      Cohesive neighborhood (consistent layout, common areas)
·      Frequently have a homeowners association (helps protect resale value)
·      It's brand-new!
            New Home CONS
·      Cookie-cutter design
·      Limited negotiating room on price
·      Potential for homeowners association dues
·      Frequently less character, or homogenous design
·      Frequently have a homeowners association (can put limits on how you use your property)
Older Home/Re-Sale Home Pros
·      Availability: More choices, more styles to choose from
·      Price may be more negotiable
·      Track record: Known issues will be revealed in disclosure documents
·      Established neighborhood
·      Could contain more charm and character
Older Home/Re-Sale Home Cons
·      More maintenance: Things break or wear out
·      Less energy-efficient: More costly to operate
·      Dated design, older appliances and amenities
·      It's been lived in!

Happy Investing!

Today's blog courtesy of Bernita McKinnion, Home Land Seattle.

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