National News: Pros and Cons for resale properties

June 13, 2018

 

 
It's often difficult to compete with new construction homes. Buyers see pretty new cabinets, new flooring, modern design and they don't have to spend time and money on a remodel. There are pros and cons for both homes....take a look
 
Advantages

Curb and backyard appeal: Many times, owners have added pools, decks, and porches, and worked with professional landscapers, painters, and contractors to make the look of their home more upscale, This means buyers won’t have to spend extra money on these items. New homes are often barebones in terms of curb appeal and buyers are left to pay for landscaping and hardscaping.

 

Better lifestyle options. Many resale homes are closer to schools, shopping, restaurants, and public transportation, which is a big plus, New construction usually takes place on the outskirts of town, where agricultural land is being developed into housing subdivisions,

 

Individual charm. Many resale homes have historical features and flourishes that add extra appeal, as well as more mature trees and larger lots that offer more privacy. New homes tend to be built closer together on smaller lots, where your neighbors are looking into your yard,

 

Disadvantages

No customization options. Buyers may have to compromise more on a resale home, With new homes, however, buyers can work with the builder to customize these options before and during construction but customization may come with added costs, 

 

Difficulty retrofitting green features. Demand for eco-friendly homes is growing quickly, and features such as energy-efficient appliances, HVAC and electrical systems, and windows are becoming standard buyer expectations. While more developers are including these items in their builds, many resale homes may not be able to be outfitted with entirely new systems, 

 

Stale design. Many older homes are outdated and currently, buyers are looking for move in ready, updated and updated homes. While an incoming buyer can fix these issues, it’s a burden. New homes, by contrast, hew more closely to trends and won’t require cleaning up a previous owner’s design disaster.

 

Realtor Magazine, May 2018 How Older Homes Can Gain an Advantage

 

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