Recommend new or pre-owned

[MARBAR]

Do you have recommendations for purchasing in a newly developed community as opposed to finding a pre-owned. We'll be renting for 3 months before buying in July, 2010. Some of our considerations are: 1) socially integrating into an existing neighborhood, 2) flexibility of "customizing" a new home, 3) cost of the CCD bond. I'm sure I've overlooked many and would certainly appreciate any feedback and opinions. Thanks for taking the time to answer!

[starflyte1]

We bought in an established neighborhood in December and were made to feel VERY welcome. The neighbors are wonderful.

Pat

PS I also like the older trees and landscaping.

[l2ridehd]

It is really a personal choice. For a lower bond you want pre-owned, for starting with new neighbors, probably new is better, as to custom design,not much of that available for either new or pre-owned. You need to look at both and make a decision based on what you see. New friends will abound in either. New will have very little done so you need to add blinds, paint, attic stairs, improved landscaping, garage floor paint, paver's and some other things to the price. Make a list of all the things you want and which ones your willing to pay for. Then look at both. Add all the things in the pre-owned that you don't have to buy to the new price, add the difference in bond amount, and try to do an apples to apples comparison. Lot size always has a premium, birdcages add cost, granite, tile floors, get the adders for all those you want. As an example, on a pre-owned I bought there was 67K worth of upgrades over the base price of a new home. However the cost difference was only 36K. Most of those I wanted so the pre-owned with a bond that was 12K less then a new one was a much better value. But unless you build a spread sheet with all these details for every home your interested in, you might not catch that difference. But look at both, do the best you can to compare value, then decide.

[CSilvestrucci]

Just ordered a new home and landscaping and many other amenities were included

[l2ridehd]

You really need to look at the landscaping included with a new home. VERY basic and they use pine straw for mulch. Within 6 months most people end up replacing it.

Unless something has changed in the last couple months, there are still many items you will have to purchase in a new home vs resale.

[ijusluvit]

You've already given what I think is the best answer to your own question: that you are going to rent here first. All the planning in the world doesn't quite measure up to the comment which will be made after all your looking around. "Wow honey, I really like this. It's the one for us!"

(I'll bet my socks one or both of you will say it.)

[katezbox]

Marbar,

The two posts prior to mine give great advice - I2 and Ijusluvit really get it, I2 has done an amazing amount of research on this. It would be worth your time to search out some of his previous pots on the topic.

[CaribbeanAl]

Do you have recommendations for purchasing in a newly developed community as opposed to finding a pre-owned. We'll be renting for 3 months before buying in July, 2010. Some of our considerations are: 1) socially integrating into an existing neighborhood, 2) flexibility of "customizing" a new home, 3) cost of the CCD bond. I'm sure I've overlooked many and would certainly appreciate any feedback and opinions. Thanks for taking the time to answer!

We researched for a year-bought Sept, 2008 thought I had looked at all the angles-At the time, we found the V sales machine so sharp that they under-cut the re-sale market with new stuff.
GOOD HUNTING !!!

[l2ridehd]

TV marketing team does an excellent job of making you think new is a lower price. I actually found the opposite to be true. Get their list of add on pricing. Granite 6K, tile in all but bedrooms 7K, extended garage 12K to 20K, cul de sac lot 18K, birdcage $24 a sq ft, stained glass front door 2K, etc etc etc. They charge extra for rounded corners and rocker switches and ceiling fans and garage door openers. The list is a page and a half long. Than add those things that have been done to the resale you will do anyway. Attic stairs and floor, replace the landscaping, and any others. Use that to really evaluate a resale and in many cases the resales are cheaper. The trick is to find a resale you want with only those add ons you want. And then there is the thing called an "offer" that you can do on resale that you can't on new. Just do a through apples to apples comparison and make the decision that works best for you.

[BogeyBoy]

TV marketing team does an excellent job of making you think new is a lower price. I actually found the opposite to be true. Get their list of add on pricing. Granite 6K, tile in all but bedrooms 7K, extended garage 12K to 20K, cul de sac lot 18K, birdcage $24 a sq ft, stained glass front door 2K, etc etc etc. They charge extra for rounded corners and rocker switches and ceiling fans and garage door openers. The list is a page and a half long. Than add those things that have been done to the resale you will do anyway. Attic stairs and floor, replace the landscaping, and any others. Use that to really evaluate a resale and in many cases the resales are cheaper. The trick is to find a resale you want with only those add ons you want. And then there is the thing called an "offer" that you can do on resale that you can't on new. Just do a through apples to apples comparison and make the decision that works best for you.

I like your thinking. Selling those upgrades in a resale can be a challenge, especially the ones that are behind the scenes. There are pros and cons to new and pre-owned, it's an individual choice. (I have looked and both each time I bought here and went with new. Then did what I wanted to with the houses.)

[beachgirl]

It really is a personal decision. We bought in a new villa neighborhood in January 2009. The prices were much lower than resales. One thing to keep in mind: your property taxes are based on what you pay for your home. We figured we could buy the much lower-priced villa and add upgrades as we go, even though we have the bond to pay. Also, we looked at older villas and knew we would want to redorate anyway, so we opted for the new. Also, we intend to travel, so the low maintenance yard is for us.

[CSilvestrucci]

I love gardening so I'm ok with the basic landscaping and the pine mulch I can live with for a bit. I never felt pressured or "nickel and dimed" as they say and I went over my documents closely. We did our research but the bottom line is we are happy with our new home purchase and that is all I was looking for. We got everything we wanted plus a little more and they kept us in our budget. We close Oct 12 so I might feel differently after that but for now we feel good : )