[Debfrommaine]

Have purchased three new homes over the last several years near Lake Sumter Landing and 466a. At that time we found discounted new build homes because the developer wanted to finish the neighborhood and move onto the next project. There were some good deals to be had.

[Babubhat]

They are overpriced. Many will need a roof, ac, water heater etc. better off with new

[manaboutown]

Originally Posted by flower7330@gmail.com

We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

Location, location, location is a time honored real estate adage.

[Flyers999]

Originally Posted by Altavia

Link to the full document.

Q2 Market Update 2022

What percentage of homes are being bought by real estate investment companies this year?

[Boilerman]

Originally Posted by flower7330@gmail.com

We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

It’s not unusual to see a pre owned home with $50k of upgrades. Some listings claim $150k of upgrades. A pre owned home less than 10 years old with a bunch of upgrades is a better value than a brand new home.

[Flyers999]

Originally Posted by flower7330@gmail.com

We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

Also either low or no bond on older homes. (Sorry if this has already been mentioned.)

[Packer Fan]

Originally Posted by flower7330@gmail.com

We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

Preowned have-
upgrades done - these can be expensive
Some of the bond paid
bigger yards
Closer to shopping and golf courses
NO TOLLWAY NOISE
Closer to more town squares
Sometimes some furnishings or a golf cart.

I have bought one of each, it all equals out

[westernrider75]

IMO it’s mostly because upgrades like driveway painting, landscaping and interior upgrades have been done. Bond May also be paid, or paid down.

Personally, I don’t want the traffic that all the shopping areas bring, so that would be a negative on my list.

[Bay Kid]

Originally Posted by flower7330@gmail.com

We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

Location, location, location.

These stats are on Village sales, does not include Realtor sales.

[Papa_lecki]

Originally Posted by Stu from NYC

I have heard that but for the other 20% who need a mortgage costs will go up and supply of buyers who can afford this place will go down.

That doesn’t mean the 80% need a mortgage. With mortgage rates at 2 or 3%, you finance, if they jump to 5 or 6%, you pay cash, or finance a much smaller amount.

[Papa_lecki]

Originally Posted by Flyers999

Also either low or no bond on older homes. (Sorry if this has already been mentioned.)

That’s impossible, I’ve read on here MANY times, a house with $0 bond is not worth more than a house with a bond balance

[Papa_lecki]

Originally Posted by flower7330@gmail.com

We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

It’s almost impossible to generally compare 2 homes, without knowing the details of what’s included.
With a new home, there are always upgrades that need to be made. Most pre owned homes have many thousands of dollars in upgrades. The area around an existing home is most likely fully build out and already has established traffic routes.

As mentioned, established home MIGHT have replacement/maintenance costs sooner.

[Laker14]

Originally Posted by flower7330@gmail.com

We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

I wasn't aware of this phenomenon. But, as mentioned before, it's tricky to compare prices without looking at the particulars of each home. When I was shopping for a home in TV, I found that pre-owned homes were a better value, IMO, when I factored in upgrades, and bonds. Bonds don't affect the value of the house, unless of course, one can do math.

I also factored in age of roof, HVAC etc etc, and where I wanted to live.

[vintageogauge]

5 years ago when we bought a new home the re-sales were also higher and our agent said they always are. We looked at both and chose new because there was no wear and tear on anything and at the time you can pick any lot you wanted and they were cheap. Also took into consideration the new home warranty.

[Bay Kid]

Originally Posted by Papa_lecki

That’s impossible, I’ve read on here MANY times, a house with $0 bond is not worth more than a house with a bond balance

It was to me when I was buying.