Done a lot of brainstorming and have read a lot of tips on buying a home for your family? Well, do not fret, it’s quite a tricky decision in itself! The very first debate is – whether to look for resale properties or presale ones! It’s not like you can change your decision later on. It’s something that you will live in and experience for a long time – so the decision must be taken with care. So, what will it be? Buy a resale home through a realtor or walk to a developer’s sales center and buy a brand new one?
Here are a few pros and cons that will help you with your decision:
Resale homes are usually cheaper per square foot than a new home. Well, resale homes are already built, so you can see the exact home that you would want to buy. You can imagine your life there as soon as you step in. There will be no nasty surprises later on with regards to the ‘imagined space’, feel and views. The best part of buying a resale home is that there is no waiting. You buy it and you can move in at your earliest possible convenience. What you see is what you get! Although it’s a good idea to get it inspected from professionals.
Well, on the downside, a resale home has already been lived in and so, it’s unlikely that the units’ fixtures and fittings will be brand new. So, the wear and tear might kick in sooner. The building will not be brand new either. This ultimately circles back to added maintenance costs for the new owners.
With presale homes, you get a brand new home which is in top condition and will definitely be under the New Home Warranty. New homes are built with the latest trends and have great amenities and the latest features. Since it not yet built, you have an option to make customizations as per your preference (and within the developer’s limits).
On the downside, new homes are always more desirable, which means that they tend to cost more than resale homes per square foot. Well, it’s not yet built and there could be a long waiting period. Also, the developer can show you only the floor plan and a model before it is actually built. Sometimes, all this adds up quite differently in our imagination than what it actually turns out to be. So, you do not know what it finally will look like. There is a lot of paperwork and you will need to do a lot of research to ensure that you get what you are paying for.
Well, whether you decide to purchase a resale home or a presale home, it’s important that you work with a real estate agent to ensure that you have all the data at hand before you make this life changing decision of your life. An experienced realtor could help you get exactly what you can afford and with all the amenities you want!
Whether you choose a resale or presale home, Feel free to visit us visit Naz Allahyari – Vancouver Realtor’s website.
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