New Homes vs Resales

Closed Thread
Thread Tools
  #1  
Old 08-15-2009, 06:43 AM
2 Oldcrabs 2 Oldcrabs is offline
Veteran member
Join Date: May 2009
Posts: 546
Thanks: 0
Thanked 1 Time in 1 Post
Default New Homes vs Resales

We are retiring in 6 months. Will be down the month of Oct. to look for a home. New home prices have dropped considerably from our 1st visit in 2005.
Gardenia home including Bond works out to be $135 -$150 per sq ft. This is with Thermal Pane windows, High efficient A/C and other extras that were not included in 2005. Resale Designer homes appear to be selling for $150-$180 per sq ft plus the cost of the bond balance in some cases. ( Also wall paper to remove and repaint)
What am I missing here? Is there a reason to look at resales?
  #2  
Old 08-15-2009, 06:47 AM
Hawkwind's Avatar
Hawkwind Hawkwind is offline
Veteran member
Join Date: Oct 2008
Location: Uniontown Ohio
Posts: 751
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Landscaping for one thing.
  #3  
Old 08-15-2009, 06:53 AM
villages07's Avatar
villages07 villages07 is offline
Sage
Join Date: Mar 2007
Posts: 11,070
Thanks: 2
Thanked 24 Times in 17 Posts
Default

Location, for another; if you want to be real close to a town square or say, the softball, then a resale would be your only choice.

If you'll be here for a month, you'll have a chance to look at both. You should keep an open mind about new vs resale. You'll know what's right for you when you see it.
__________________
Maryland (DC Suburbs) - first 51 years
The Villages - next 51 years
  #4  
Old 08-15-2009, 07:33 AM
BobKat1 BobKat1 is offline
Gold member
Join Date: Apr 2009
Location: Frankfort, Il
Posts: 1,040
Thanks: 0
Thanked 1 Time in 1 Post
Default

There is more room for negotiation on the sale price of the home with a resale vs. new construction.
  #5  
Old 08-15-2009, 09:20 AM
Taj44 Taj44 is offline
Veteran member
Join Date: Jan 2009
Posts: 862
Thanks: 0
Thanked 0 Times in 0 Posts
Default

We have a gardenia that was built in 2006 that has the thermal pane windows, and has the upgraded air conditioner. As others have said, there is room for price negotiation, purchase of furniture package, and I personally think location is the biggest thing. We chose our house because it is much more central in the Villagews (relative to full buildout) than the homes in the villages where they are now trying to sell the new homes. I think a good location, for example on a cul de sac, or near a town square, more central rather than on the outskirts, can add at least $10K. Also, the re-sales will generally have less bond. As others have pointed out too, to do your own landscaping can be very expensive - with a resale you may have much more mature landscaping, curbing, etc. Lastly, with a resale, there are no suprises. You get to see who your neighbors are; if you do your homework, you'll know if the neighbor across the street has two barking dogs that drive everyone crazy; or the neighbor next door is hard of hearing and plays their television so loud you can hear it through the walls(I'm not making this stuff up!) When you buy new, you are taking your chances. Most of the time you'll turn out okay, but there are no guarantees.
  #6  
Old 08-25-2009, 12:00 PM
The Villages Specialist The Villages Specialist is offline
Junior Member
Join Date: Jul 2009
Location: Indian, Iowa, California,Texas, Florida
Posts: 10
Thanks: 0
Thanked 1 Time in 1 Post
Default Cost of after market upgrades

Costs of after market stuff makes a pre-owned home worth considering.. I know when we bought new it was like everyu other week a $1000 here a $1000 there....

Landscaping …………… $2,000 $10,000
Landscape Curbing …………… $500 $2,000
Enclosed Lanai …………… $4,000 $10,000
Bird Cage / Slab …………… $3,500 $8,000
Add on Florida Room…………… $15,000 $25,000
Painted Drive $1,000 $2,500
Pavers $3,000 $8,000
Sceened Garage Door $750 $4,000
Garage Lite Inserts $175 $225
Blinds $500 $2,500
Leaded Glass Front Door $750 $3,500
Solar Tubes $500 $1,500
Water Softner / TreatmentWater Treatment 750 $2500
Closet Organizers $250 $2,000
Fans $50 $350
Window Treatments $500 $5,500
Garage Pull Down Stairs $200 $400
Garage Storage Cabinets $200 $1,600
Gutters $300 $700
Storage Cabinets $100 $500
__________________
  #7  
Old 08-25-2009, 02:44 PM
paulandjean paulandjean is offline
Gold member
Join Date: Jan 2009
Posts: 1,327
Thanks: 0
Thanked 2 Times in 2 Posts
Default homes

new homes you are locked into the villages price. pre-owned you are not. location important.some of the new villages being built are so far out of lake sumter landings.pre-owned only way to go.
  #8  
Old 08-25-2009, 10:01 PM
sschuler1's Avatar
sschuler1 sschuler1 is offline
Veteran member
Join Date: Mar 2008
Location: Village of Hemingway
Posts: 711
Thanks: 0
Thanked 2 Times in 1 Post
Default

We are having a new home built, and found that we got such a great price on the new home that there was no comparison. We are building in Hemingway, which will be almost in the middle between Lake Sumter and the new town square Brownwood when it is built. We don't feel that we are building too far away from anything. There is a brand new regional rec center being built near us, there is a grocery store right near us on 466a, and Lake Sumter is maybe 5 minutes further by golf cart than any of the areas that the others are talking about. Also the big plus that no one has mentioned: everything is new. Your roof is new, furnace and a/c is new, appliances are new. You won't have to sink money into those repairs for many years. Sure you might need to put some of the little extras into the house, but at least they are your choices and you might have to change those things out anyway in a used home because you don't like what the previous owner picked. There was no question for us. We couldn't find a used home that we could just move into without sinking some money into it, and we ended up spending less on the new with everything we wanted.
__________________
Traverse City, MI
Plymouth, MI
Village of Hemingway
  #9  
Old 08-26-2009, 06:14 AM
2 Oldcrabs 2 Oldcrabs is offline
Veteran member
Join Date: May 2009
Posts: 546
Thanks: 0
Thanked 1 Time in 1 Post
Default Resales

I have seen a few resales on various websites that may be interest us.
But they are listed for $20-$50k more than than a new designer home. Many have Bonds of 5-15k. I think no matter what home we purchase we will be putting money into it, to "make it our own". Many of the resales have much wall paper to remove. That can be easy or very labor intensive to do.
Location Location Location is always important. We are trying to keep an open mind and will look at resales.
  #10  
Old 08-26-2009, 06:25 AM
Bryan's Avatar
Bryan Bryan is offline
Veteran member
Join Date: Dec 2008
Location: Village of Alhambra
Posts: 834
Thanks: 0
Thanked 3 Times in 3 Posts
Send a message via MSN to Bryan
Default

One thing to consider - only a temporary problem though - is that a new home may be in an area that is very actively under construction. Lots of transiets and trucks through the area until it is "built out". Noise - very early and/or very late and/or on weekends - can be an issue. Some have reported tire problems as there is so much construction debris (roof nails, for example) around on the streets. Then, during construction, there can be dust or mud problems (depending on the season) and some lots will be only bare dirt until they are sodded. Of course, this all goes away eventually but it can be a consideration for some.

Someone mentioned that everything will be new - and that is true. But like any complicated thing, some of your new stuff will break down right away and need replacement. Yes, it will be under warranty - warranty does not cover hassles and inconvenience. With a pre-owned home, bugs have been worked out already so you have less concerns in this arena.

Personally, location and mature landscaping for prime concerns for us so we purchased a resale. We have been very pleased but probably would have been pleased no matter which way we went.

You gotta look, consider everything, and make the decision that is right for you.
  #11  
Old 08-26-2009, 06:35 AM
skip0358's Avatar
skip0358 skip0358 is offline
Soaring Eagle member
Join Date: Jul 2007
Location: The Villages Florida
Posts: 2,291
Thanks: 89
Thanked 325 Times in 110 Posts
Default My opinion

wife and I looked at resales and new. Having never owned new we went new. Also by going new your sort of a pioneer.You move into a new or newer area,with possibly more new people in the same boat as you are.Yeah you want solar tubes,driveway and patio coating, more or better landscaping. But you put in what you want,where you want and what style or color you want. it's your new life we felt we should make your own choices or mistakes. just an opinion.
  #12  
Old 08-26-2009, 06:53 AM
Army Guy's Avatar
Army Guy Army Guy is offline
Gold member
Join Date: Mar 2009
Location: Retired and living fulltime in The Village of Bonita!
Posts: 1,035
Thanks: 0
Thanked 2 Times in 2 Posts
Default

We bought new, and yes to date we have spent $20,000 on upgrades we wanted since CYVs can only be bought "spec". BUT as mentioned the cost of new was so much cheaper then pre-owned. Even with the $20,000 our total price for a 2/2 concrete CYV is well below $200,000, and everything is new.

Army Guy
__________________
Scouts Out!!!!
NJ, PA, NC, AL, Germany, etc, etc and finally The Village of Bonita.
  #13  
Old 08-26-2009, 07:32 AM
paulandjean paulandjean is offline
Gold member
Join Date: Jan 2009
Posts: 1,327
Thanks: 0
Thanked 2 Times in 2 Posts
Default homes

remember the day you move in to a new home,it is now a pre-owned
  #14  
Old 08-26-2009, 08:21 AM
Whalen's Avatar
Whalen Whalen is offline
Veteran member
Join Date: Aug 2008
Location: Village of Hemingway
Posts: 973
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by Bryan View Post
One thing to consider - only a temporary problem though - is that a new home may be in an area that is very actively under construction. Lots of transiets and trucks through the area until it is "built out". Noise - very early and/or very late and/or on weekends - can be an issue. Some have reported tire problems as there is so much construction debris (roof nails, for example) around on the streets. Then, during construction, there can be dust or mud problems (depending on the season) and some lots will be only bare dirt until they are sodded. Of course, this all goes away eventually but it can be a consideration for some.

Someone mentioned that everything will be new - and that is true. But like any complicated thing, some of your new stuff will break down right away and need replacement. Yes, it will be under warranty - warranty does not cover hassles and inconvenience. With a pre-owned home, bugs have been worked out already so you have less concerns in this arena.

Personally, location and mature landscaping for prime concerns for us so we purchased a resale. We have been very pleased but probably would have been pleased no matter which way we went.

You gotta look, consider everything, and make the decision that is right for you.
Good point about construction area, living through it now. I know it will be over eventually, but in the mean time it is annoying. Construcion areas are not always well kept and yes flat tires abound.
__________________
Brooklyn, The Poconos, Garden City South, The Village of Hemingway
  #15  
Old 08-26-2009, 08:54 AM
conn8757 conn8757 is offline
Senior Member
Join Date: Jul 2007
Location: Village of Amelia
Posts: 367
Thanks: 0
Thanked 0 Times in 0 Posts
Default

We liked the idea of everyone in the area being fairly new and enjoying the process of making friends with everyone on the same playing field so to speak. We also wanted to be in an area where most lived year round and not many rentals. I think we found that.
__________________
Village of Amelia, Orlando, Fl; Tampa, Fl., Irmo, S.C; Kewanee, Illinois ;Middleton, Ohio; Louisville, Ky; Marietta, Ga.
Closed Thread


You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 02:54 PM.