Should you buy a resale or a new build? What are the advantages and disadvantages of a resale?
New builds are great for many reasons, but there are some disadvantages. One thing I come across a lot as an agent, is that new neighborhoods are lacking trees. Trees are beautiful and people love streets lined with large, mature trees, but that is something that is often lacking in a brand new community. Trees are usually planted in new communities, but obviously it takes time for them to grow. So if you really love big mature trees, a new community may not be the right fit for you.
Older neighborhoods can have a lot of character and charm and larger lots. Many new communities these days have small lots, making it feel like your neighbor can look out their window and stare right into your home. Hopefully they don’t do that, but still, it’s possible. So one of the appeals of an older neighborhood is more privacy with larger lots and larger trees. But, in Austin, the neighborhood would have to be typically built in the early ’80’s and earlier to get that benefit in a certain price range. You can buy a brand new home in a community with trees on larger lots, and those homes typically start in the mid-$400K’s.
Another advantage of a resale is you can negotiate the price of the home. Many factors come into consideration with a resale such as age, location, and condition of the home, so the prices can vary. You can find a great older home that has been gutted and remodeled that can almost be like buying a brand new home but with the charm or aesthetic of an established neighborhood. Don’t right off older homes if you’re not loving the choices of new builds in your price range. You never know what you may find.
One drawback for some resales is there may not be many amenities in their communities. Some much older communities don’t even have sidewalks, let alone pools and golf courses. So if having accessible amenities is important to you, you may want to stick to newer master-planned communities.
I always advise home buyers to look into both options. You never know what may make the most sense for you and your needs.