[logdog]

Originally Posted by Raen Dear

Thank you all so much. Bottom line re the bond is you don't have to pay it at closing. So you factor in the cost of the home, the costs of closing, which seem reasonably nominal, and all the start up costs, utilities, etc.

In general it seems you would be better off with a new home, you get the warranties, nominal closing costs, and, well, it's new, no inherited problems. Location, however, is an issue. The new homes seem to be out in the boonies.

I'm squeamish about foreclosures, seems like battening on someone else's bad luck, but I've seen some awfully nice homes in advantageous location, i.e., nearer Sumpter Landing. Has anyone had experience buying foreclosures?

Resales can be found closer to the town squires. Resales have more mature landscaping and more mature neighbors. Resales may have upgrades that are appealing to you and save some money down the road. Resales may have part or all of the bond paid off.

We looked at resales and decided to go with new construction. Newer areas have newer neighbors making it a little bit easier to fit in. "Boonies" is really a relative term here. We are by golf cart 5 minutes from Colony Plaza shopping and dining, 10 minutes from LSL and 20 minutes from either Spanish Springs or Walmart. When the newest Town Squire is built, that will be about 20-25 minutes away putting us in the middle of TV at build out.

New construction will always have golf and recreation nearby since that is developed before the homes are built. Resales can turn out to be a better financial decision if the owner has it priced right.