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

Top pet-friendly real estate agent in south Florida.  Providing exception services to buyers and sellers in south Palm Beach County including cities of Boca Raton, Delray Beach, Boynton Beach, Highland Beach, Deerfield Beach, Hillsboro Beach, Lake Worth, Parkland and Wellington, Florida.  

See my real estate website at BuySellHomesBocaRaton.com.

BuySellHomesBocaRaton.com

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