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Old 12-31-2007, 05:34 PM
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Default Re: Quality of new homes

I have looked at new, resale with realtor, and FSBO. This has led me to these conclusions. The developer is very willing to deal on new homes now. Right now you can get a new premier at $475K. Resales are still over priced for this market. However with that knowledge, find 3 homes you like and make market offers until someone blinks. That will probably be at least 10% and up to 20% below current listed price. Realtors are required to present all offers to a homeowner unless it is specified in the listing agreement. Some items to consider when comparing new to used. And only if you like them. If something is green and you hate that color, that is worth ZERO to you.

Landscaping is worth 5K to 10K depending on how well done it is.
Attic stairs and flooring in garage $500
Curtains/blinds $500 to $1000 depending on quality.
Washer and dryer, are they included? Worth about $1000 (age adjusted below)
Status of the bond. $0 to 25K
Is the lanai enclosed? $3K or more. And make sure you want that.
Other things like shelves in garage and laundry, paver's, privacy screens, etc. etc.
Home square footage is worth about $100 for each additional. (for those that want to say more, consider the cost of lot and building separate)
And then depending on what has been done you will correct or change to your liking, deduct for that. Also depending on age, pro rate the cost of roof, AC, appliances, and normal wear over 10 years. Worth about $2k to $3k per year. So if it's 5 years old, figure new is worth a minimum $10K more and maybe as much as $15K.

Decide on what model you intend to buy, look at 3 or 4 new and 3 or 4 resale. Then get out a spread sheet and list all the differences and what they are worth to you. Then narrow it down to a couple homes and make market value offers. Require a home inspection and become a happy home owner in TV.

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