Monday, July 08, 2013

Should you buy new construction or a resale?

Should you buy new construction or a resale?

It depends on several factors, let's examine these:

Price:  First you have to determine if your budget and home buying parameters opens you up to the new construction market.  Depending on your needs your buyers agent can quickly tell, or with a little more research confirm this option.

Location:  If you are dead set on a living in a section of Orlando or  have commuting requirements this will be a factor if new construction is available in those areas.  New construction single family home market is more prevalent with a 30-45 minute drive from downtown Orlando.  There are some new construction within the core of Orlando but pricing is starting $500,000+.  Town homes however could be an option.

Time frame:  Do you have time to wait?  New construction build times are generally 6-9 months.  Resales can often be closed on within 30-45 days.

Landscaping:   If you are looking for neighborhoods with lush mature oaks, and mature landscaping between and around homes, then new construction may not be for you.  Many production builders completely clear the lots and communities of any trees.  It will take a minimum of 10-15 years for trees to have some growth.

Energy Efficiency: If you desire low electric bills and optimal energy use, then new construction maybe for you.  Builders are building homes with better AC efficiency, increased insulation or radiant barrier roofing, double pane windows, and increase wall insulation making the property much more sealed and efficient.

Lot Sizes:  If you are looking for an oversized lot or large yards, new construction may not be an option.  The majority of lots are 1/4 of an acre or less, where older resale home will offer more options with yard space.  New construction 1/3 acre lots can be found more often in Clermont.

Repairs:  No time or money for remodeling or repairs, then new construction would work.  You not only have a brand new move in ready property, you will have a builders warranty to cover certain items for time to come.  Some

During our consultation we will review all your home buying options to help you find the most suitable home so you can happy with your purchase.