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Originally Posted by fruitcup
Are the prices for new home lots in the Villages going down in parallel to the market shift with existing homes? Thinking of building and wondering if a resale might be a better way to go financially. On the other hand, is it less expensive to build a new home if the Villages offers lower pricing than existing homes?
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New homes will often be competitive or cheaper than pre-owned, because they won't need a roof, HVAC, etc., and it seems those selling a pre-owned are very proud of them and want top dollar. In a new home, you pick every color, finish, design, etc. We have had some neighbors that build, live there the required 1 year, then flip the house for a nice profit, repeat. If you don't mind moving every year or two, they make good money; one neighbor got 75% above what they paid in a year. However, lot premiums are WAY up from what they were. Our preserve view lot was only a $39k premium, now there are no more preserve lots that I know of and unlikely to be for years. The new area water views were in the $150k range and golf views in the $200k range when the wife and friends did a tour. I thought it was nuts when and the largest Enclave lot was listed for $249k... guess not. Keep in mind the premium isn't the lot value; it's just the premium; Our tax appraisal has the lot at $160k. IMO, if wanted a pre-owned, it would be for the lot/view/location that I couldn't get with a new home without breaking the bank.