brand new or resale. What’s the better deal?

[admin]

Hi, Piggingtons. How many of you typically buy brand new homes, and how many of you guys like to buy resales. Which do you think is the better deal? And why?

Would it depend upon the incentives the builder is offering? Or do you feel resales are always a better value?

Thanks for opinions.

[Arty]

Brand new assuming you did your homework. Simply because I believe builders are more likely to offer better deals than homeowners because they should have higher margin. Personal opinion of course.

[Arty]

Brand new assuming you did your homework. Simply because I believe builders are more likely to offer better deals than homeowners because they should have higher margin. Personal opinion of course.

[Arty]

Brand new assuming you did your homework. Simply because I believe builders are more likely to offer better deals than homeowners because they should have higher margin. Personal opinion of course.

[Arty]

Brand new assuming you did your homework. Simply because I believe builders are more likely to offer better deals than homeowners because they should have higher margin. Personal opinion of course.

[temeculaguy]

Resales are never “always” a better deal, things change based on the stage of the cycle and what you want. New isn’t always available in the area you want and requires you have some reserves knowing you will need to put in a backyard, blinds, etc. so it depends on you. Yes, the builders and sometimes the banks are more desperate, but shorts and overleveraged resales can beat the builders in some cases. So the answer is there is no rule, there are too many variables and too many factors.

[temeculaguy]

Resales are never “always” a better deal, things change based on the stage of the cycle and what you want. New isn’t always available in the area you want and requires you have some reserves knowing you will need to put in a backyard, blinds, etc. so it depends on you. Yes, the builders and sometimes the banks are more desperate, but shorts and overleveraged resales can beat the builders in some cases. So the answer is there is no rule, there are too many variables and too many factors.

[temeculaguy]

Resales are never “always” a better deal, things change based on the stage of the cycle and what you want. New isn’t always available in the area you want and requires you have some reserves knowing you will need to put in a backyard, blinds, etc. so it depends on you. Yes, the builders and sometimes the banks are more desperate, but shorts and overleveraged resales can beat the builders in some cases. So the answer is there is no rule, there are too many variables and too many factors.

[temeculaguy]

Resales are never “always” a better deal, things change based on the stage of the cycle and what you want. New isn’t always available in the area you want and requires you have some reserves knowing you will need to put in a backyard, blinds, etc. so it depends on you. Yes, the builders and sometimes the banks are more desperate, but shorts and overleveraged resales can beat the builders in some cases. So the answer is there is no rule, there are too many variables and too many factors.

[golfproz]

I bought my first place brand new and I’m not sure I would do it again. There’s a lot of added cost in buying new. You need to spend a ton of money getting those homes landscaped, adding patios and stuff like that. Buying a resale you can find homes with nice yards and the upgrades already done. Plus with a resale you can see what the neighborhood is like. With new tracts just about anything can happen, especially in a market like this. There are a lot of 2 year old homes with dirt yards still. Unless I find a builder fire sale I’m looking at resale for my next home.

[golfproz]

I bought my first place brand new and I’m not sure I would do it again. There’s a lot of added cost in buying new. You need to spend a ton of money getting those homes landscaped, adding patios and stuff like that. Buying a resale you can find homes with nice yards and the upgrades already done. Plus with a resale you can see what the neighborhood is like. With new tracts just about anything can happen, especially in a market like this. There are a lot of 2 year old homes with dirt yards still. Unless I find a builder fire sale I’m looking at resale for my next home.

[golfproz]

I bought my first place brand new and I’m not sure I would do it again. There’s a lot of added cost in buying new. You need to spend a ton of money getting those homes landscaped, adding patios and stuff like that. Buying a resale you can find homes with nice yards and the upgrades already done. Plus with a resale you can see what the neighborhood is like. With new tracts just about anything can happen, especially in a market like this. There are a lot of 2 year old homes with dirt yards still. Unless I find a builder fire sale I’m looking at resale for my next home.

[golfproz]

I bought my first place brand new and I’m not sure I would do it again. There’s a lot of added cost in buying new. You need to spend a ton of money getting those homes landscaped, adding patios and stuff like that. Buying a resale you can find homes with nice yards and the upgrades already done. Plus with a resale you can see what the neighborhood is like. With new tracts just about anything can happen, especially in a market like this. There are a lot of 2 year old homes with dirt yards still. Unless I find a builder fire sale I’m looking at resale for my next home.

[SD Realtor]

Marion it seems to me that new or resale should not matter…for a home that you are going to live in, find a home you really love, then drive a good deal. If you cannot afford that deal, then wait. Keep that up and eventually you will find the home you love and that you can afford. If it is new then great or if it is resale then that is great.

Given the market conditions and where you are at with your rent situation I would recommend to sit on the sidelines a few more years.

SD Realtor

[SD Realtor]

Marion it seems to me that new or resale should not matter…for a home that you are going to live in, find a home you really love, then drive a good deal. If you cannot afford that deal, then wait. Keep that up and eventually you will find the home you love and that you can afford. If it is new then great or if it is resale then that is great.

Given the market conditions and where you are at with your rent situation I would recommend to sit on the sidelines a few more years.

SD Realtor

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