New Build Homes vs Resale Homes

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February 14, 2013

New Build Homes vs Resale Homes

Buying a home is an emotional experience.  It is exciting and your emotions will naturally go up and down through the entire process.  I remember when I built my home.  I picked my builder, wrote the contract, made selections and everything was great until day of closing.  My stomach was in my throat, it was hard to swallow and thank goodness the Title Company offered me some cookies and water.   My husband just smiled and said you sell homes, this is our home, being nervous is natural so let’s sign the documents and move in.  So we did and we have been very happy since the day we moved in.

Benefits of NEW.  It is a brand new home and everything is in the best condition before you move in.   My favorite thing about a new home is the smell of fresh paint, everything shines and the lack of needing repairs because everything is brand new.

The building process isn’t a pretty process.  It takes time and remember what you are buying is the END PRODUCT.  Keep that in mind.  You need to be patient and realize if there are a few mistakes along the way they can almost always be resolved in a timely manner.   Humans build your new home not machines and humans make mistakes at times.  Usually when mistakes are made that is when you would get upset.   It’s not a big deal.  Let the superintendent know and they will make sure the subcontractors or supplier correct the issue.   You will think the superintendent should notice everything.  They do catch most things but it is always helpful to have another set of eyes especially when it comes to your color selections.  You picked them out.   The superintendent didn’t choose your colors and the subcontractors didn’t either.   You will need to let them know right away if something isn’t correct.  This happened to me with my flooring and my exterior stone.  I checked on my house a few times a week and would look at the materials that were delivered.  That is when I noticed that the materials were off by a number.   I talked with the superintendent and he had it changed right away.  Another thing that is helpful is when you choose your colors and selections don’t change them later.  This causes mass confusion across the board.

Benefits of Resale.  You can move as quickly as two weeks if you are paying cash or your lender is exceptionally fast.

Some people are looking to move quickly while others can take their time.  Everyone has different situations in their lives along with different needs and wants in a home.   Established neighborhoods, mature trees, location and no construction are several reasons why people decided to purchase resale homes.   During your option period is when you get the home you have chosen inspected.   The inspector will list all the defects in the home and you then decide what you want repaired and what you can live without being repaired by the seller.   The inspector’s job is to disclose to you everything and I mean everything that is wrong with the home.   It is unreasonable to ask a seller to repair everything.  It’s not a new home and they don’t have to sell it just like you don’t have to buy it.  Make sure your Realtor describes in detail what repairs are needed for you to purchase the home.  Some sellers decide to take the cost of the repairs off the price of the home so then it is your responsibility to get the repairs done.

A warranty can come with new and resale homes.  Most builders offer a home warranty and you can buy a home warranty for a resale home.  Each warranty is different so make sure you know what is covered and what isn’t.  No need to be surprised when something happens and you call the warranty company and it is something they don’t cover.  You can always add additional coverage to fit your needs.

Deciding if you want to build a home or purchase an existing home is up to you and your situation.  Make sure you explore all options before you have your Realtor write up the paperwork.    Purchasing a home is usually one of the biggest, if not the biggest, investment you will make in your life.  Home ownership isn’t for everyone.  But most people strive to own their own home someday.  Save time and energy by working with a Realtor when you decide to purchase a home.  What a Realtor can see is accurate and up to date information.   It isn’t the same as what you can see.  Also, work with one Realtor.  Ask your friends, family and coworkers who they recommend.   Most of all, enjoy looking at homes and choosing yours.

Jana Grieve


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