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Should You Buy a Resale House vs New Construction Today?

Written by Posted On Saturday, 16 April 2022 13:24

Should You Buy a Resale House vs New Construction Today?

 

Should you buy a resale house vs new construction today?  There are several factors to consider in this question.

 

 

Buying a Resale

 

When you buy a resale, you know what you’re buying.   It’s a tangible thing that can be touched and felt.  The house is already built and it’s standing.  And while it may need some work, as many homes do, you know what you’re getting. 

After an inspection, you know the good, the bad and the maybe ugly.  It’s possible that the house may need a new roof.  Houses in south Florida are aging and a roof is sometimes a necessary improvement that must be made.  A house may need a new air conditioner.  Don’t’ forget – we run our air conditioners 24/7 in south Florida!  The heat runs off them as well, so they may not last as long as an air conditioner up north.  Make sense?

 

Buying New Construction

 

Let’s face it.  A new house is always nice.  It’s a brand new house.  However, buying new construction or building a house in 2022 is not like it was years ago.  I’ve built two homes in Boca Raton and Delray Beach, and things went fine.  But it wasn’t in 2022. 

At that time, you picked the house.  The builder gave you the price.  Then you chose a lot, and they gave you the price.  Then you added whatever upgrades you wanted, and they gave you the price.  They had a list.  And they gave you a date it would be completed by.  There wasn’t much to worry about as you could stop by daily or weekly and check on the work.

Building a house today is a different story.  Builders are having buyers bid on lots.  They start with a price, and it’s bid up from there.   The house has a base price and then you can add upgrades.  The problem comes in with the supply-chain issues we are having today.  Builders cannot guarantee when a house will be complete or what the final price will be.  How can they with inflation and not knowing when cabinets, appliances, etc will be coming in and the final cost? 

If you have unlimited funds, then this may be the way to go for you.  Each person has their own comfort zone.  I had one buyer on a zoom call with a builder and others to bid the lots up.  She told me it was the most humiliating experience of her life.  She’s leaning towards a resale.

 

In Summary

 

Whether you buy a resale or build a house is a personal decision and one you have to be comfortable with.  No one can make that decision for you.  But know your options going in!  That way, you can make the decision that’s right for you.

Elyse Berman, PA, CRS is a Pet-Friendly REALTOR® who has been helping people buy and sell homes for the past 18 years. She serves Palm Beach County, Florida and surrounding areas. Check out her blog.

 

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Elyse Berman, PA

When you’re moving to Boca Raton, Delray Beach, Boynton Beach or Highland Beach with furry family members, you need to work with an experienced, caring and committed REALTOR® who understands the challenges you face as a pet parent. You need Elyse Berman. After growing up in New York and working as a Court Reporter in a fast-paced judicial system, Elyse moved to Boca Raton in 1994. Her goal: to be close to the beach. With three kids and two dogs, her family settled in a pet-friendly gated community – but when the kids grew up and moved out, she decided it was time to live like she was on vacation every day in a place right on the beach. However, Elyse quickly learned that not all beachfront properties in Boca Raton, Delray Beach and Highland Beach are pet friendly. Some have confusing pet rules that change frequently – and some claim to be pet friendly but only allow birds and fish. Elyse’s addiction to research, fueled by her love of real estate, the law and her dogs, helped her discover her passion for helping people find pet-friendly homes in Boca Raton and the surrounding communities. (You can learn more about how and why Elyse became Boca Raton’s premier pet-friendly REALTOR here.) With an ever-evolving list of which condominiums and communities are pet friendly (as well as what restrictions they currently impose on buyers), Elyse is ready to help you find the perfect place to live in Boca Raton, Delray Beach, Boynton Beach or Highland Beach. Her extensive knowledge of the local real estate market dates back to 1994; she’s seen new communities spring up, watched old communities become revitalized, and kept an eye on all the complexes, neighborhoods and subdivisions in the area for years. Call Elyse (561) 716-7824 Email Elyse Elyse@ElyseBerman.com She’s with you every step of the way, from your first tour of a home to closing (and beyond.) In fact, she stays in touch with many of the people whose homes she helped find – and she’s even sold those same homes decades later. She truly wants her clients to be happy, so she answers her phone and will never pass you off to a team member. Having made a cross-country move herself with a husband, three kids, two dogs and a business to run, Elyse knows all about the challenges you’re facing – and she can help you find a pet-friendly gated community in Boca Raton, a pet-friendly condo, a pet-friendly 55+ active adult community or anything else you’re looking for. Elyse loves dogs (well, all pets, actually) – and she makes it her business to keep up with the communities that accept furry family members. She personally wouldn’t move anywhere that wouldn’t allow her pets, and she won’t expect you to, either. She’ll never ask you to get rid of a pet or waste your time; she really understands what it’s like to have to find a place that’s suitable for all members of the family. No pets? No problem – Elyse also understands people who want to live in pet-free condos and neighborhoods. She can help you pinpoint all the best places to live. Elyse currently volunteers her time on the Professional Standards Committee (after having served on the Grievance Committee) for the Board of Realtors®, where she continues to learn. Serving on these committees is a lot like court reporting, which is why she loves it. Additionally, in order to better serve her clients, Elyse has attained the following designations along with membership in the following organizations: CRS – Council of Residential Specialists ABR – Accredited Buyer’s Representative GRI – Graduate Realtor’s Institute E-Pro – Internet Certified – Technology Certification Program C2EX – REALTORS® Commitment to Excellence Member National Association of REALTORS® Member Florida Realtors® Member Broward, Palm Beach & St. Lucie Realtors® 2018 – 2020 – Grievance Committee – Broward, Palm Beach & St. Lucie Realtors® 2021 – Present – Professional Standards – Broward, Palm Beach & St. Lucie Realtors®

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