Quote:
Originally Posted by Altavia
Many places, buying the lowest cost home on the block gives the best opportunity for gains.
Just the opposite here, good location, view, 3 car garage will likely do far better than money in the bank.
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Not always true. Many preowned homes with large garages and views have been sitting on MLS and VLS for months. Many with large price reductions. If you haven't noticed, inventory on preowned homes is GROWING every day.Your home must be beyond special to see a sizeable profit.
Buyers with $1 million plus budgets are not fools. They are SELECTIVE buyers. Very few will plunck down an extra $200-$300 thousand on a preowned a seller has overpriced. Most will buy a lot from the Developer and build. There is 15 + years of continued building remaining. The Developer will continue to be the winner. All who believe a large profit on their resale is a guarantee is gambling. Many will lose.
My advice: Never buy a home with a big profit in mind. Buy a home you can see yourself living in for many years. Also, keep in mind an expensive home has expensive monthly costs. Before buying, decide if it is worth it. The homes are cookie cutter in the Villages. It is your choice to pay significantly more for the same model or not.