Benefits of Buying a Resale Home

In my previous post, I talked about the Benefits of Buying a New Construction Home, now it's time to talk about purchasing a resale home.

What is a resale home? A resale home is just the opposite of a new construction home, it's one that has been previously owned and lived in by a resident. When you search online for a home listed by a real estate agent, it's generally a resale home. Over the years, resale homes have been the default option for many aspiring home buyers as it pertains to the cost of building brand new. Although resale homes don't give you the option to customize and choose certain features, it still has great benefits.

Here are some benefits of buying a resale home:

More Traditional Floor Plans

While working in new construction, one of the biggest complaints I got from customers was the fact that none of the homes had a formal living room and dining room. With a lot of the newer floor plans, they're going with a more open concept floor plan which is leaving out the formal dining room. A lot of the floor plans are a lot smaller as well even though they cost more. Most of the homes aren't even over 3000 sq ft, but the average home sales price are over $350k.

Potential to Negotiate Purchase Price

Unlike new construction homes, you have a better chance of negotiating the purchase price. Normally for new builds, the price is very firm because they want to ensure they get all the money they spent building the home and the fact that most of them pay all closing costs, they rarely budge on the sales price. With the resale home, you're more likely to have a little wiggle room if you have a realtor/real estate agent who's good at negotiation. They will get you the best possible price to fit your budget for your new home.

Lower Property Taxes

Unlike newly built homes who can be difficult for the value to be assessed because they're not fully constructed, the resale homes will have a more clear picture of what their taxes are because the value of the homes have been assessed and are established. The estimated cost of the property taxes won't be a surprise as to they've had a few years or so to be assessed.

Established Neighborhood

Resale homes have a lot more to offer when it comes to being in an established neighborhoods because they can be found pretty much anywhere with a lot less restriction. If you have a growing family with children in grade school, it'll make it a lot easier because all of these things will already be in place.

Larger Lots with Mature Landscaping

If you all haven't noticed, they're building these newer homes on much smaller lots and a lot closer together these days. Most of the lots are barely over a fourth of an acre. If you have a growing family and want a yard for your children, pets, etc to play in, it's almost impossible. They're building the houses so close together these days that you can literally look out your window right into your neighbor's house. Who wants to live like that?

These are just a few reasons for you to consider purchasing a resale home. As always, happy house shopping.

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