When someone looks at the purchase price and there is a much higher price a couple years later, it is because of all the add ons. Houses don't even come with stairs to the attic so you start with the add ons on day one. Driveways, pools or jacuzzis, birdcages, patios, outdoor kitchens, landscaping, moulding, gutters, back splashes, closets, etc., etc. So prices are higher on resales because of the improvements not just appreciation. Anyone buying a new home versus a resale should figure they will be spending a considerable amount to "finish" the house.
|