In my continuing series on housing options we move on from the new construction realm to the re-sale universe! When I started putting together the list I was reminded that there are a lot of good reasons to buy re-sale.
1) Re-sale homes are less expensive than new construction. You will typically find, depending on the location price per square foot costs to be 10%-20% less than new construction.
2) Older homes can have more character. You won’t see too many Cape Cods being built new construction in Northern Virginia these days. Interesting nooks, design features, materials usage and other neat features abound in older homes. Lot’s of people built homes in the past that were highly customized to their tastes and unique needs. Those may not appeal to a broad range of the market but they might be just what you are looking for and won’t find being built anywhere.
3) Re-sale homes are often in more established neighborhoods. Over time schools, public services, shopping and transportation build up around developed mature neighborhoods.
4) Older homes often have larger lots and mature trees. I marvel at large majestic trees. If you or I want an impressive 80 ft Maple we can plant a 10 ft one and wait 40 years. If Bill Gates wants an impressive 80 ft Maple he can……plant a 10 ft one and wait 40 years! Older homes also often have fantastic mature and integrated landscaping plans with hardscapes and patios already in place to provide enjoyment and privacy.
5) Re-sale homes offer more choices. People have been building homes in this region for hundreds of years and thus there is a staggering array of home styles, sizes and locations. If you are willing to have some locational flexibility there is much to chose from.
6) Older homes present greater investment opportunities. You can often buy homes that are well maintained but have not been updated and through hiring contractors or doing the work yourself build lots of equity in your home through making needed improvements and updates.
7) Older homes can be fun to work on! This is a shout out to all of my clients and friends who have HGTV on the brain! There is something incredibly cool and immensely satisfying in doing the work and seeing your vision for transforming your home come to fruition.
8) Buying re-sale gives you set timelines. When you do a contract on an existing home you can negotiate and set an exact closing date for planning purposes and for coordinating with the sale of another property if you have one to sell.
There are of course others but give me a call to discuss the benefits of making a move to a re-sale home.
It’s a good life.