Quote:
Originally Posted by GoodLife
Actually a smart man, or woman, would buy a resale with tens of thousands in upgrades already done with bond paid instead of a bare bones new home with $30k unpaid bond.  |
I agree. When you consider all costs, bond, required upgrades like blinds, attic stairs, washer and dryer, and you will eliminate that pine straw and landscape. Resale homes become a bargain.
I have done the analysis many times. I take the things I like and value them at about 50%, the things I have to change because I don't like them and what that will cost me, and the required items at about 75%, and adjust for the bond difference, resales are almost always a better deal. And you can make an offer below the listed price on a resale, on new the price is the price.
Everyone I talk to who has bought new ignores the fact that an offer can be made on a resale. They just compare listed price while they ignore the bond delta. Makes no sense to me. The only rational reason for buying new is if you just have to have a new home. Financially it makes no sense.