Niagara Real Estate Blog

Buying a home: new build or resale?

Posted by Terence Davids on Sep 22, 2016 10:33:33 AM
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If you’re shopping for Niagara real estate and looking for a change of scenery, you’ll have a decision to make when it comes to buying a new build or buying a resale home. Especially with all of the exciting new development going on in the region and the hot market, there’s plenty of options to consider before you throw the big bucks on the table. Both have their advantages, it’s just about deciding what’s best for you before buying a home.

 

Choosing a newly built home

If you choose this route, you have to decide whether to buy a plot of land and construct a home or buy a unit that a builder has already built or plans to build at a preset location. Although it may be pre-set if you choose the latter, the option of a new home can give you more personalized options for your home, such as siding, flooring, cabinets, etc.

You’ll benefit from lower maintenance costs because everything is new and most items will be covered by warranty. Buying a home that's newly built will be typically more expensive per square foot, and the price set by the builder is non-negotiable, other than the cost of upgrades.

 

Buying a home that's a resale

Although a resale home will more often than not require some redecorating or repairs, the surrounding area will be more developed, making it easier to access services like schools and shopping malls. A Niagara realtor will be able to help you get a better scope of the area and accessible ammenities. 

Resale homes also have the advantage when it comes to the move-in date. It’s easier for you to negotiate this part of the process, making it more convenient, when compared to whether or not the builders of a new home can meet their construction schedule.

 

Location, neighbourhood (location), location

Unless you get an infill house in an old neighbourhood, the option of a new build home will mean you also have a longer daily commute. Further, the neighbourhood you choose to live will have its pros and cons in terms of proximity, but also the type of people you’re living with.  

You’ll find that in older neighbourhoods with resale homes there’s a variety of residents from young families to renters to retirees. New communities often attract a more homogenous buyer group, resulting in developers marketing and building accordingly. Developers will have a specific buyer in mind, and build for said clientele.



The buyers market is hot, and deciding which type of home is your next one isn’t always simple. Fortunately for you, we understand what our customers want when it comes to finding their dream home. Connect with us, let us know what you’re looking for, and we’ll gladly show you the best of the Niagara real estate market.

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Topics: Buying A Home

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