There are always advantages to buying something new or something “pre-owned” whether you’re talking about cars, homes, computers or lawn mowers.
In terms of real estate, these days the choices between “new” and “pre-owned” probably applies more to condos or townhomes than it applies to single family dwellings that are not being built at the same pace.
Here’s a snapshot of some of the advantages of buying a new condo or townhome:
• You usually get to pick the colours you want for each room with painting included.
• Appliances are going to be new.
• There will be some kind of new home warranty to protect you from being responsible for any major repairs in the short term, and you can negotiate extending the home warranty.
• Your new home will be spotless.
• You will be the original residents, which adds a little extra to its being “your” home.
Here’s a few advantages of buying a condo or townhome from its home owners:
• There are almost always some extras included, such as blinds and curtains, fixture upgrades, things like ceiling fans and household improvements that outgoing owners are unable to take with them.
• You’ll have the benefit of neighbourhood knowledge from the outgoing home owners, especially if it’s a neighbourhood that is completely new to you.
• Often there are items the home owners will include or deeply discount (freezers, cabinets, even beds) because they won’t fit in their next residence.
• There can even be the opportunity to buy a pre-owned home in “turn key” condition, with everything but the groceries included!
• Sometimes, and this is not always the case obviously, a home that has been lived in will be less expensive than a comparable one that’s new.
Has your experience given you any additions to these lists? If so, pass them along to be included in a future blog on this subject.