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!
So whatever your preference, old or new, be sure to consider the way you like to live. If the house is for you, buy what you like. If you are a builder or an investor doing a fix-up, be sure to consider the aspects of your construction that most appeal to a potential buyer.
Want to see the latest in new construction in Seattle? Email me at HomeLandInvestment@gmail.com for a complete list with photos of newly-constructed and green-built homes in Seattle.
This blog post courtesy of Bernita McKinnion, Home Land Investment Properties.