Brand New Versus Resale

So you are ready to buy a home in Hamilton Canada, but have not yet decided whether to purchase a new or resale home. This decision is one faced by home buyers all over the world every year, and the guiding principles tend to be the same. Let's take a look at what you might want to think about when you sell your Scrivener Square Toronto property and want to buy something new (at least for you).

First, there is the issue of price. Generally speaking, new homes will sell for higher prices than resale homes, although that does not mean resale homes went down in value. On the contrary, they probably went up; it is just that people attach more value to a new product, and the real estate market is no exception. So expect to see new dentists in Ajax Ontario listed higher than equivalent resale homes.

The reason people list new homes at higher prices is that, at least in theory, there should be less wrong with them. Really, though, it is just that any problems will probably take a little bit longer to show. Many people have purchased new from Milton Real Estate Listings only to find that the contractors took shortcuts and did otherwise shoddy work. In other words, new homes do not always mean higher quality.


Some people might say that new homes lack the character of older ones. Take a look around at any new buildings, whether it's Yorkville condos or detached homes in the suburbs. Odds are that while they are pricier than older houses in other parts of town, they are smaller in terms of square footage. Not only that, they tend to look all the same; same layout, same materials, same lot size. If you are looking for a house that really defines you, resale might be the way to go.

Another thing many people find appealing about purchasing a resale home is that they can negotiate a lower price if there is work to be done to improve the home. No one wants to start tearing out the kitchen in a newly built home, but when people buy Dentists in Oshawa and other resale properties, they can add their own personal touch to the home itself through renovations.

The short answer is, if you don't mind spending a bit more or living in a house that is pretty much the same as every other one on the street, a new home is your best bet. If you like to define your own living space, though, resale might be the way to go.





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Wednesday, November 20, 2019