In the first installment we discussed the difference between a resale property and a new property. Now you will need to make the decision as to which type of home you want to purchase. As we mentioned before there are pros and cons to each of the options and you will have to determine what is the most important to you in making this decision.
Buying A Resale Home
The Good:
Resale homes tend to be more affordable, in general, than new homes. Resale homes have a lot to offer to home buyers. First of all many resale homes may already have an established yard or garden area as well as some decent landscaping and other interesting details. When you purchase a resale home the house will typically come with the appliances included such as refrigerator, stove, dishwasher and sometimes even a washer and dryer. Providing that the condition of the current appliances is good, this will save you a lot of money. Also a lot of the resale homes are in quaint and charming neighborhoods that have history and appeal. Many resale homes offer historic features or period fixtures that make the home interesting and unique.
The Bad:
When you buy a property that is a resale you will oftentimes need to do some cleaning upon moving in. You are essentially moving into someone else’s former living space. If you are an extreme sort of neat freak or germ phobic this could be cause for concern. Carpets may be stained, tubs may be grungy and dirty, the oven may be toxic and disgusting. These are all things to consider when you buy a resale property. When you purchase a resale home you really never know what has happened in that home before you bought it.
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Hi Sean,
I think there are a lot of benefits to buying a resale property. You’ll always have to clean it before you move in as you don’t know what has gone on before you got there.
But, you’ll have a lot more freedom to make some huge changes and make a bigger profit when you resell it. It’s easier to see the difference in the changes you make in a resale property than a new home.
Another pro for resale homes is that everything is already connected and sorted. Getting your utilities connected can be costly and involves alot of phone calls and paperwork. Getting council approval and building permits can also be very stressful, not to mention a long winded process.