Published February 7, 2023
What Do I Do and Where Do I Go?
So you are ready to upsize or downsize and need to sell your current home? Well, the looming question which follows the statement, we are ready to sell our home is, where do we go next? Let’s dive in and explore the benefits of a new construction home versus a resell home, you may be surprised on the comparisons and this will give you some things to decide as you make your decision on how to proceed next!
There is always a reason to exhaust all your options to ensure your next home meets your short term and long term needs and especially your timeline when considering selling. In both new construction and a resale home partnering with a realtor is of the utmost importance as they will guide, represent, and negotiate on your behalf during the process.
The Pros of A New Construction Home
First, we will take a glance at the benefits of buying a new construction home, as always you will want to verify with the builder on what options are available and have a real estate agent working for you during this process.
1. The Opportunity To Custom Build Your Home Or Purchase A Spec Build
Building a fully custom home gives you the opportunity to choose all the features you want, from the finishes, layouts, appliance packages, if the builder offers it you can choose it. This home will be tailored to your exact wants, needs and desires. A spec home is typically a Move-in ready home which allows the builder to choose the options and floor plan but will tend to have a lower price tag than a fully custom home . Again, price tag and timeline are two major things to consider as your walk this path.
2. Builder/ Lender Incentives
Builders and lenders in certain markets and circumstances will offer favorable incentives which could range from a “better interest rate” to assistance with costs associated with closing or even design room costs, never hesitate to ask to ensure you have all the information available.
3. Mitigate Repairs
During the process there will be walk throughs as well as inspections which you have the ability to choose. There are always exceptions but typically a new home will have less maintenance required and builders and manufacturers often offer warranties which can help put your mind at ease should an issue arise.
4. Potential Energy Cost Savings
Most new homes are energy efficient, and this can dramatically decrease your power bill as well help you be environmentally friendly.
The Pros Of A Resale Home
Just as there are benefits to owning a new home there are also benefits of owning a resale home, the beauty of it is that you have the ability to make the best decision for you and your family during the process, now we will take a look at why a resale home might be the right choice for you.
1. Large Selection of home styles & designs
There are years, decades and even homes from prior centuries which all have different plans and features than today’s home. Enjoy browsing and find what suits you!
2. Character & Renovations
Do you like the charm of an older home or have an eye for design and like to renovate? Well then a resell home could be right up your alley and allow you to put a personalized touch on a resale home.
3. Hammering, nail guns, and construction trucks or lack thereof!
Reselling homes in a neighborhood gives you the opportunity to move into an established community as well as not having to deal with the noise of construction work.
4. Expedited Timeline
Depending on your timeline and how soon you can get your home ready for market then a resale home generally can be closed in 30-45 days once going under contract, and depending on what stage a new construction home is in this is typically not the case.
Options are good and allow you to research, plan, and take action on your goals. Take the time you need to think about what is most important to you in your home search and also find an agent who is knowledgeable and can help you in the process. By working with a trusted real estate agent, you can be confident you’re making the most educated, informed decision.
Final Thoughts
If you have questions about the local Triangle Market and are looking for an expert real estate team to serve you then do not hesitate to contact us at the Kima Real Estate Group.
Andrew
919.343.0252
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