Selecting a Home – The Advantages of Buying New
It doesn’t matter what stage you are in the property ladder, whether you are looking to buy your first home or your fifth, every house purchase involves some major changes and choices. One of them is: should you look at purchasing a brand new home instead of a home that’s been lived in by previous owners?
It’s estimated that one out of four Canadian home buyers buys a new, custom built property from a builder or a developer instead of buying a re-sale home. So what makes some individuals buy a new home? Here are a few instances why.
• When a house hasn’t been built, there is usually the opportunity to alter or upgrade just about any part of it from window frames to light sockets.
• As all the homes are new, there are few individuals that already have friends in the neighbourhood, giving you all the opportunity of having a unique friendship.
• Previous owners of properties often complete remodelling and repairs themselves which could be a problem if not done correctly. With new homes this isn’t going to be a problem as the house has been built by professionals and they are available if there is any initial complications: which saves expensive repair bills.
• New homes are usually built to superior electrical and energy-efficiency standards compared with older houses.
• Although a re-sale home may close in as little as thirty days, a new property or condo unit can take a while to build, which allows you to tie up loose ends.
Why do Individuals Want to Purchase a Re-Sale Property?
Why would you want to buy a home that may have been changing owners for many years? Quite a few of us love things that are all nice and new, but a ‘used’ home does have its own attraction. Below are some of the reasons why many house buyers opt for a re-sale over a new build and if we bear in mind that three out of four of us buy resale homes, it makes them a very popular choice:
• A re-sale property and its neighbourbood is already built, unlike a new home where the building work is more often than not ongoing for some time.
• Your grass and lawn will already be down, and your walkways will already be paved
• A new property can be rather undistinctive and boring, whereas a re-sale home tends to have a little bit of character.
• All those early dilemmas of a new home such as settling cracks, leaks, doors fitting incorrectly have been smoothed out and were someone else problem.
• Closing fees are typically lower for re-sale houses.
• A benefit for first time home owners is not having to buy those extras such as light fitments, with a re-sale home these extras are quite normal as sellers rarely take them with them.
• Value for your dollars – there is often more value in a re-sale property as the previous owners will have already put additional work into the property. Resale property can represent a good real estate investment option.












