Quote:
Originally Posted by Bryan
You are very lucky to be purchasing at this time and for cash. It is really a Buyers Market. IMHO, resales are usually better values - especially for cash buyers. You CANNOT haggle over price for a new home but you can over a resale.... Here, you think you get a great deal on a home only to learn that you ALSO have a $20K bond to pay off that was not included in the purchase price. Be sure to factor in the bond cost as part of your purchase price... On a resale, you can always use the bond balance as part of your price negotiation strategy... .
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Really good comments about the bond. The bonds on the new homes are over $20,000, while depending on the age of the home, bonds on resales are much less for the same model of home, and you will most likely be able to get a more central location. If you see a resale on the market you like, don't be put off by the asking price - people are generally willing to take much less, especially if the home has been on the market for awhile. Good luck.