If you are planning to buy a home in the Alpharetta, Cumming or Dawsonville area, you need to decide whether to buy new construction, or a resale. Due to the rapid growth of this area, new homes & communities are popping up around every corner, so you need to take a look at the pros & cons to both new & resale homes before you buy.
New Construction Homes:
The biggest advantage is choosing your basic decor: floors, cabinets, lighting, etc... Builders now offer a wide variety of selections so you don't have to do any major remodeling when you move in. Also, everything is new: appliances, roof, a/c, carpet. You should also receive a new home warranty if buying from a reputable builder. Plus, you can often choose your lot & your floorplan. Finally, many of us just like that NEW HOME SMELL!
The disadvantages would be having to break in a new house, paying a higher price and having to deal with possible construction elements in your neighborhood. The first year or two in any new home is going to see settling which will cause cracks & nail pops, as well as other construction errors that can range from minor to major in any house. This is why you always want a good home warranty on new construction. You will also have to deal with other homes being constructed nearby, the rivers of mud on your street when it rains and the new landscaping that will need several years to establish. Finally...the price. Builders rarely come down in price, at least in today's market. However, you can always guarantee an increase in price once you start getting into the upgrades.
Resales: The greatest advantage to a resale is price. You can easily see this by going into any new subdivision that has some resales as well. The resales are generally priced below the new homes. You can often get the largest floorplan, for much less than the new homes with the same floorplan. Also, the home has had time to settle and the neighborhood has had time to establish. Oftentimes the previous owner(s) have also added their own upgrades, so you are in fact getting much more for your money.
The disadvantages to resales can be the age and condition of the home. A resale can need a lot of work or require new systems, roof, paint, carpet. Some resales are not "move-in" ready. But keep in mind, this can be turned into an advantage if you are willing to put some "sweat equity" into your home and turn it into a good investment.
Bottom line: With any home purchase it is essential to determine which of these factors is most important to you. Once you have made that decision, find a good real estate agent that knows the market & area, find a good home inspector (yes, this goes for new construction too) and make sure you are getting all the information. Research is key, and that is why a good agent can help you determine what is a good investment and help you to find what is right for you.
Contact
The Vanderhoff Team today and we will help you cross that bridge to success. This will be your biggest investment and that is why we want you to feel good about your next home purchase.
