Buying a home can be an exciting experience, especially for first-time homebuyers. However, it can also be stressful, as you want to make sure the entire process goes smoothly. One of the first decisions you need to address is whether to buy new home or resale. There are, of course, advantages and disadvantages to both. Here are a few things to consider when looking specifically at these two options with a natural bias to the advantages of buying a new home from a Barrie home builder.
The first advantage to purchasing a new home is obvious. No one has ever lived in a new home. It is newly built, so everything is new. Other advantages of buying a new home include:
- You get to choose: With a new home, you get to decorate it the way you want. You can pick the colors, styles and brands. You can choose the carpet or hardwood flooring, wall paint colours, kitchen and bathroom cupboards, countertops and a variety of other options. A new home offers you the ability to define the atmosphere of your home.
- More energy efficient: New homes are generally more energy efficient. The insulation is better and the appliances, if included, will be more up-to-date.
- More modern: A new home builder will offer you more contemporary and modern styles.
- Lower cost of maintenance: Since everything is new, you will generally save money on the cost of short-term maintenance. If something does need to be repaired, it will generally be covered by a new home warranty.
- Low down-payments, rent-to-own or sweat equity options: If finances are tight, new home builders can offer flexible payment terms and unique programs to make your dream of home ownership a reality.
A resale home has naturally had a previous owner/occupant. It may be only a few years old or it could be decades old depending on your preference and the neighborhood you are choosing. There are certainly some factors you will want to weigh if you are considering a resale.
- You do not get to choose: It can take some time to find the right resale as you are effectively buying a house with the style of the previous owner. You will likely want to do some of your own decorating or maybe even remodeling and you have to remember there is a cost associated with that including perhaps your time.
- The general condition of the home and unseen risks. You will naturally want to have a professional home inspection done, no matter the age of the home, however, even then you are running some risks in purchasing a resale from unseen foundation cracks to roof leaks or faulty plumbing and wiring.
- Warranties: Generally, the warranties of the home and any included appliances will have expired.
- Layout: Many older homes have poor layouts and the rooms are typically smaller.
If you are looking for more flexibility, control and overall security in the home you are purchasing and will presumably be living in for the foreseeable future, then you are best to consider making your first home a new home. Barrie, in particular, has many great new townhome, condo and detached home options to choose from.