There seems to be another big explosion of new construction in our local Clermont and surrounding area. Housing developments as well as commercial ventures are being added to our community at steady pace. The downtown/lakefront area of our city is being revitalized and plans for future development of the area is now a priority for the city planners. The new turnpike exchange in the Minneola area should help alleviate traffic congestion on Highway 50, and make for easier commutes for those who have to travel to the Orlando area.
Many buyers that I've been working with lately are gravitating to new construction purchases, rather than resale homes. This can make it difficult for homeowners who are trying to sell their homes. They often are faced with the decision to upgrade their homes to compete with new construction homes, or to reduce their listing price to be competitive in the market.
What are the benefits of purchasing a new home vs. a resale home?
Pros of New Construction
Some flexibility on design during construction phase
Cheaper to maintain (new appliances = fewer repairs)
Cheaper to operate (energy-efficient construction)
Cohesive neighborhood (consistent layout, common areas)
Frequently have a homeowners association (helps protect resale value)
The Pros of Resale Homes
Availability: More choices, more styles to choose from
Price may be more negotiable
Known issues will be revealed in disclosure documents
Could contain more charm and character
Financing through a builder’s "preferred lender" can also mean easier qualification for a mortgage. Often times buyers will go directly to a builder rather than to a real estate agent if they are interested in homes that are new construction. If a buyer brings a real estate agent with them, the cost of the home will not increase - the agent's commission is paid by the builder without any cost to the buyer. There are benefits to having a realtor with you when purchasing a house through a builder, there's no downside to having someone there to look out for your interests!
Author:Sabine Bayona Phone: 407-595-8984 Dated: November 14th 2017 Views: 543 About Sabine: ...
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