So you’ve been mulling over the pros and cons of Resale Homes vs. New Construction. Now what?
Let’s talk about what to do with this information on a practical level with tips and tricks to make the most of your purchasing power whether you buy new or “used.”
New Construction Tips
• Run a “background check” on the builder’s track record. What else has this builder or company built? Do they have a reputation for finishing on time, on budget, and with good feelings all around?
• Take a hike. Walk and drive the streets of the new development you are considering purchasing in. If any of the homes on site are already occupied, pop by to ask current residents what they think about the quality of the home, and whether the builder lived up to the contractual agreement. You’ll pick up inside info and maybe meet your future neighbors.
• Slow down, Romeo! Don’t fall too deeply in love with the model home – you probably won’t be moving into that one. You can sign on the dotted line for all the upgrades available, but you will be getting out the checkbook to make those extras happen.
• Bring your own agent. Many builders have a Real Estate agent on site, and they’ll be more than happy to help you. At the end of the day, these folks are working for the builder, not for you. Bring your own agent to the table when you buy a newly constructed home to ensure that your interests are properly represented.
Resale Home Tips
• A professional home inspection is NOT OPTIONAL. You wouldn’t buy a car without a test drive – don’t make your biggest purchase, a home, without a professional investigation of big ticket items like roofing, plumbing, fireplaces, furnaces and the like.
• Be prepared to Counter-Offer. Your home inspection may turn up an issue. If your home inspection reveals fixable flaws, your Realtor can help you propose solutions including seller-made repairs or a lower price.
• Expect the unexpected. Pipes leak, foundations crack, and furnaces fail – these are all potential costs of home-ownership. Don’t panic, but do prepare.
• Hire a pro when necessary. If major repairs are required, you’ll either have to do them yourself or bring in the professionals. Be honest about your DIY skills and if professional services like plumbing/electrical/appliance repair are needed, call your Realtor for a referral.
Give me a buzz. I’m happy to help with market insight, info on your home’s value, or representation in your next purchase or sale. Whether you have questions or you need professional Real Estate services, I am at your service.
The Meyers Group