Plus/Minus of New vs. Resale

[NJblue]

Hi all,

I have been monitoring this site for the last few weeks - ever since we visited TV a month or so ago and decided to get serious about purchasing. I still have a number of questions that I'd like to get your perspectives on. One is that we are still unsure of the relative merits of buying a new house versus a resale and I'd like to get some of your feedback based on your experiences.

As I see it, some of the positives of buying new are:

it's new - no wear and tear and all of the mechanical systems and roof have their full lifetime ahead of them.
in the case of the recently renewed policy of allowing customization, you can get a house that better meets your desires
the neighborhood will be new, with everyone in the same boat in terms of developing new friendships

On the other hand, the benefits of buying a resale as I see it are:

rather than being restricted to just the villages that are currently being developed, you have a choice of any village
you can buy closer to a town square than where the current new development is occurring
all of the landscaping expense will have been made and it will be mature looking (of course if the landscaping is not well done, this could be a negative)
likewise, interior improvements may also have been done
the bond may have been paid off completely or at least be partially paid off

Have I missed any?

While a lot of the above points may be somewhat quantifiable or objective, the one item that I really wonder about is the issue of the social aspects of buying into an established neighborhood versus a new one. Has anyone found that if they bought into an established neighborhood that they had any trouble breaking into the social circle of that neighborhood? Was there ever an issue of age discrepancies being so great that you didn't feel like you fit in? How much of your social circle is based on neighborhood versus club activities or some other outlet that is not village-specific? Thanks for your views.

[graciegirl]

Hey Blue.

You have things pretty well sorted out and since we bought and closed Monday through the mail, we haven't even picked up the keys yet.

One of the things I have found in the past few months when we too were trying to decide where and what is that new homes right now are in general less expensive than resales. Many are being offered for resale now, that were purchased during the "boom" a few years ago and housing prices were higher than.

The landscaping comes with the new houses and it is pretty nice. We were more than pleased with ours on Havana Trail.

I am persnickity in that I am not often pleased with others choice of paint and items added for decor and would have to be removed...such as borders and wallpaper. My dear husband (aka Sweetie) doesn't get upset about things like that, as long as things are clean and in working order, which in resales, sometimes they are not and sometimes they are spotless. We saw an open house that was immaculate except for the smell of cigarette smoke.

We have friends who said, you don't want to worry about a water heater or a roof, buy a new house.

Now I have bared my soul and made enemies of everyone trying to sell a resale, which I didn't aim to do.

Welcome to you as a slightly less new Villager.

GracieGirl

[jeffy]

1) social aspect: It will probably be easier to meld into a new area. We have a great street here in Winifred. There are 24 of us that golf together every sunday ( couples). And at least 8 get together everyday. We recently had a resale on our street and I stopped by to welcome the new neighbors. They were not all that receptive :'( so I have not made any attempt since then to get closer to them (i consider myself shy, if I make the first effort and am rebuffed :dontknow:). I do believe though that if you are willing to put yourself out there to become part of the "click" that you will be heartily welcomed. We have a rental on our block and they are including in all our activities if they express an interest.

2) I believe there are almost NO age discrepencies here in the villages. We are 53 and 50 and some of our closest neighbor friends are in their 70s. Its more of having like activity desires as opposed to like ages. I would much rather hang out with someone who enjoys golf or pickleball that is 20 years my elder than someone my age that has nothing in common.

3) I would guess personally it is about 50 / 50 with social circle determined by neighbors vs clubs.

I can tell you that we have lived here full time for almost two years. My wife wanted nothing to do with moving into a retirement community with a bunch of "old people". I had to agree to move back to Maryland in two years if she was not happy here. We were here less than 2 weeks when she said we had moved to eutopia and forget about moving back. The Villages really is the greatest place in the world.

/
Jeffy

[l2ridehd]

I looked at both new and resale and ended up with a resale. For us a lot that afforded a little bit of privacy in the back was a high priority and we did not find that in a new home at a price point that made sense. We did find it in a resale and a seller that needed to sell right then. So in that instance resale turned out to be the better decision. As you have noted there are pro's and con's to each. We were concerned about the social aspects also, but that didn't matter quite as much as we are not there full time yet. Also the status of the bond made a difference of about 10K as well. So value was the deciding factor more then anything else.

[another Linda]

We also bought a resale in an older neighborhood. We knew we wanted a CYV, so we limited our search to those. The place we bought had many hidden extras like whole house surge protector, light tubes, attic stairs, epoxy garage floor and patio, and on and on. Also we liked the stucco courtyard enclosure rather than the plastic that they use on the newer ones we saw. As far as the neighborhood goes, that hasn't been an issue so far because we have only spent the month of March there -- and that month was very busy with company. The neighbors we have met have been very nice, and we have played golf with one couple. Another couple told me that the neighborhood is about 15 years old and many residents moved there when they turned 65 making them about 80 now. Half joking, half serious they said the old are dying out and the young are moving in. In any case, we love it and can't wait to spend more time there!

[Sidney Lanier]

We were intent on a resale; I once built a home when I was much younger and vowed that I'd never do it again. Our resale was four years old when we bought it, and we bought it from 90-year-olds who were the original owners. In other words, rest assured that the house did not have any undue wear and tear, it did come with extras like landscaping (fantastic orange and lemon trees and privacy plantings), water purification system, attic stairs, a garage full of tools and storage cabinets, furnishings that they left that we are able to use, a very inexpensive golf cart, and on and on, plus the fact that the sellers had paid the bond off at the time they had bought the house and sold us the house at a pretty amazing price. Our neighbors are lovely, the neighborhood 'association' is an extraordinarily friendly group, and though we're snowbirds who haven't had much time to spend in our beautiful home, the only thing that didn't appeal to us--an all-white house that happened to be filled with all-white furniture--was easily remedied with our choosing great paint colors and our furnishings. No regrets!

[Shirleevee]

Sailor and I have been visiting TV for years. We looked at new and resales. In January we found a year and a half old resale and fell in love. The house is like new. The previous owners took great care. May I suggest that you see a mix of both. The sales people at TV are very accomodating.

Good luck!

Shirleevee

[Cajungirl]

Hubby and I moved into our resale three weeks ago. This home had the bond paid in full and wonderful landscaping. Golf cart remained and we have Wonderful neighbors. The price was $30K less than he paid a year ago. I had to update the inside with new paint and new floors but the rest is gravy. Have already been invited to a driveway social where several couples sat around with our drinks making small talk. We have certainly been embraced into the neighborhood thus far. We are in Glenbrook, the half way mark of the two squares I understand. Good luck in your decision but believe me there is no Bad place, I don't think. LOVE IT! LOVE IT! LOVE IT!

[colleenj]

I am in the process of purchasing a resale (I close June 5). I looked at both new and resale and fell in love with a little bit older 2 bedroom designer home in the "historic" section of the Villages. The house is in perfect condition (as reinforced by an incredibly good housing inspector)- I don't evenhave to freshen the paint.
Everyone has there own tastes but the fact that I could find a great house, in move-in condition, that had no bond and wonderful landscaping sold me on pre-owned. I am looking forward to spending vacations there and getting to know the neighborhood until I can move in full time in a few years.

[grandma-annie]

We bought a resale and love it.... great price, bond paid, golf cart included, beautiful mature landscaping, and newly painted. We took out the carpeting and replaced whole house with tile, which is easier to maintain. We have found our special "place in the sun". Have to return to Michigan now and then because of real estate stalemate, but will be back when we can. We will probably have to rent out in order to maintain two homes.

[F16 1UB]

We looked at both and purchased new that included blinds, fans, landscaping. Looked for 2 years on the i-net and made 2 trips to TV. We had several listed on our visit but the prices were under the pre's. Yes the established neighborhoods were lovely and in time ours will be too. 8 years ago at our northern house we started with no landscaping and just as it's starting to look great we're about to start over. I guess one plus is that the growing season in FL continues year round unlike the north.

F16

[Russ_Boston]

2) I believe there are almost NO age discrepancies here in the villages. We are 53 and 50 and some of our closest neighbor friends are in their 70s. Its more of having like activity desires as opposed to like ages. I would much rather hang out with someone who enjoys golf or pickleball that is 20 years my elder than someone my age that has nothing in common.


Well stated Jeff. I can imagine that many of my new friends will come from the activities that I particpate in regardless of which Village they live in. I'm not one to just hang out and talk unless there is some activity going on. I like to PLAY! I don't care if it just a game of charades or Trivial pursuit, I can't sit still for long.

[Frangyomory]

NJBlue, regardless of which type you decide upon, you will be happy. If you buy a resale in a neighborhood like ours, you will be welcomed by your neighbors. Whenever we have a new couple move in, one of us invites them to our monthly dinners and that sets the tone. We have yet to get a new neighbor who hasn't been pleasant.

Of course, back in 2005 most of us moved in just after the Summer and so we have become very close friends. This however, does not stop us from widening the circle.

I would be more concerned about location. We are just off 466 and feel close to everything. Great shopping and restaurants in this location.

As I said, whatever you decide, you are going to love the Villages. Truly the best decision we ever made was retirement here. :bigthumbsup:

[sandybill2]

Moved to TV Nov 1. We had looked at new homes but decided we wanted a resale--this was a personal preference for us. Bought a home built in 2004--we were the 4th owner and the only one to live in home full-time. Neighbors were ectastic that the home was finally going to be lived in! Bought fully furnished--landscaping already done. We had added gutters, garage door screen, garage cabinets, storage, etc. Whatever you decide, you will love the Villages--Good Luck.

[samhass]

We am selling our Mallory house. Everything is done and the bond is paid. It has so many upgrades. You would be amazed at all the things you have to do after purchasing a new home vs some resales. I thought I would be there forever and upgraded accordingly.
I never expected to want to live here full time. When we decided to stay forever, we purchased a much larger home. Many of the new homes are on sale. When you consider the whole package however, many of the resales will come out on top in terms of value.