5 Reasons You Should Buy Resale and Not New
Whether you are in search of your first home or your dream home, you have probably faced the question: “should I purchase resale or new?” Find out the answer below.
Here are the top five reasons you should buy resale and not new:
- Established neighbourhoods
- You don’t have to use as much imagination
- Infrastructure is already there
- More Square Footage at a Lower Cost
- Flexible Move-In Date
Established neighbourhoods
When it comes to buying a resale home, we can almost guarantee that the neighbourhoods you’re interested in have an established reputation. Following our guide to choosing the right neighbourhood for your family can simplify your resale purchase and help you avoid the unknown.
You don’t have to use as much imagination
You don’t have to use as much imagination when shopping for a resale home – you can literally touch and see all of the elements that the home has to offer. With a new home, you’re depending on artists renderings and one or two model homes that are done to the nines and may not be the model you’re considering. The popularity of purchasing a resale home remains consistent year after year due to their charming finishes, tree-lined streets, original craftsmanship, and unique layouts.
Infrastructure is already there
Unlike newer builds, the community surrounding re-sale homes has had more time to mature, expand, and incorporate the appropriate infrastructure to suit their residents’ needs. Buyers of resale homes in the suburban area can look forward to touring established schools districts, public transit routes, community centres, fan-favourite local shops, and places of worship. Let’s not forget basic things like…sidewalks and paved roads.
More square footage at a lower cost
As stated in a recent study, newer homes are nearly 20% more expensive than a resale purchase*. Buyers of a resale home have the opportunity to negotiate a price whereas buyers of a new home may fall victim to a builder’s dream of dollar signs. Newer homes are also lacking in some pretty expensive basics like paved driveways, fences and window coverings which will put a nice dent in anyone’s wallet.
Flexible move-in date
If you’re looking to move into a home and have a specific timeline in mind, purchasing a resale home is most definitely the best route for you. Unlike purchasing a new build, buyers of resale homes do not have to wait on the completion of a build (and all of the delays therein), but can simply negotiate possession with the seller in a timeline that works for both parties.
