Friday, February 23, 2007

New Home vs. Resale Home Purchase?

One thing that most buyers do not know is that if you choose to purchase a brand new home, you may still use the services of a real estate professional to represent your interests in the purchase transaction. In fact, whether you utilize my services or the services of another agent, it is in your best interest to have someone other than the builders' representative advocating your interests, facilitating negotiations, coordinating inspections, etc. Have you ever heard horror stories from someone you know who purchased a new home? No one interpreted the purchase agreement for them, they were not informed of certain upgrades available to them, no one was their advocate with regard to making repairs before and after the sale...the list goes on. If you decide to purchase a new home - don't let this happen to you!

In order to have an agent represent you in the purchase of a new home, make sure you and your agent are present the first time you visit that particular community or builder.

Should you purchase a new home, or a resale home? Here are some pro's of each choice:

New home:
-Modern floor plans that could include an open floor plan, a "great room," more closet space, more bedrooms and bathrooms, large garage, etc.
-The opportunity to select you desired lot within the community based on location within the neighborhood, shape, size, view, etc.
-The opportunity to choose upgrades, such as paint selection, customize floor coverings, cabinetry, colors, and more
-More energy-efficient insulation, dual pane windows, solar power, and heating/cooling systems
-Builder incentives, such as assistance with closing costs for using a preferred lender, credits for upgrades, etc.
-The added protection of a warranty from the home builder for plumbing, mechanical, electrical, and structural defects

Resale home:
-Existing features, including window treatments and mature landscaping, swimming pools, etc.
-Location -- existing homes are often closer to metropolitan areas and have larger lots
-Established neighborhoods that provide a sense of community
-The opportunity to use an existing home as a base to remodel and create a unique property
-The ability to purchase a home protection plan

If you would like additional information, please call or email me. I would be happy to help you!

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