Homes: New vs. Resale

New Home or Resale:

1. When buying a new home keep in mind that the representative you are dealing with at the New home site may not be a licensed Real Estate Agent. The new home representative's Best interest may lie with the Builder and not with YOU. In many cases the builder will not allow your agent to protect your interests or help you prepare the agreement.

2. The builder's agreement can be very one sided in favor of the builder. DID YOU KNOW that many agreements allow the builder to extend closing by 2-3 months twice and then cancel the agreement if the house still isn't built.

3. Your real estate experts cannot full protect you when buying a New Home. For example, your Lawyer will not be able to force the Builder to sell you a house that's not there yet. Whereas when buying a resale home , your agent will be able to negotiate the Price and your mortgage expert will be able to arrange the best possible mortgage for you. If you do decide to buy a new home, try not to get confused with terms like " mortgage pay-downs" that are built into the price of of the home.

4. Remember, your home inspector will not be able to inspect a house that's not built yet and New Homes are not always trouble free.

5. As a new home buyer you may have to spend Extra money in additional expenses like driveways, decks, landscaping,decorating, recreation-rooms, air condition, decking and fencing. If you want all of the above without having the hassles and expenses a resale home might be the solution for you.

For more information contact me, Kathy Kewley at kathykewley@rogers.com or call me direct 1-519-851-7535

As always, I look forward to hearing from you.

 

Kathy Kewley

Kathy Kewley

REALTOR®
CENTURY 21 Network Realty Ltd., Brokerage*
Contact Me

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