Hidden Advantages of Pre-Owned Homes
Pre-owned homes or resales make up an estimated 75% of homes sold according to the National Association of Realtors. See the advantages.
When home buyers ask me about the merits of buying an “old” versus new home construction, I show them how resale homes offer some of the best values in the real estate market. The news gets better when they see the diverse styles and sizes of resale homes in may locations and price ranges. Plus, when the owner goes to sell an “old” home, they have what most buyers are looking for.
Here are some of the advantages that make “old” homes so popular:
Older homes often have more space inside and out than new homes. Inside, pre-owned homes may have more square footage and higher ceilings; outside, resale home lot sizes are typically larger.
Many pre-owned homes are in older neighborhoods, which are closer to downtown business districts and shopping. New communities are often a distance away from cities and commute times may be much longer.
Resale homes generally are less expensive than similar new homes. One reason could be that resale sellers have more bargaining room than builders who must make a return on the high costs they recently paid for land and building materials. In fact, a NAR study found resale sellers accepted a median drop of $4,000 from their asking price while builders’ median drop was only $500, if at all. Most Builders show you a model home with all the bells and whistles, which can add thousands of dollars to the base price. Be sure to ask the builder’s on-site representative what the base price of the model home is, then ask them exactly what that model home would cost with the upgrades seen included.
More green space
For tree lovers, resales are a big draw. Older homes typically have mature trees and plantings, unlike what’s found in new neighborhoods. They’ve been customized so to speak.
What you see is what you get
There is no guesswork with older, established neighborhoods. Buyers can research and tour the schools, sample the shopping, and check out the neighbors. In a new-home subdivision, buyers might not want to live with the noise and dirt of construction, may wonder about future development, or deal with possible long bus rides to existing schools and little or no nearby shopping.
Lots of extras
Many pre-owned home buyers cash in on “extras” the owner has already put in, which can save big money. Typical money-saving extras: fenced yards, decks, pools, play sets, window treatments and appliances.
A resale home can be an excellent value for a home buyer in today’s market. Compare to Cornelius NC new homes, Davidson NC new homes, Denver NC new homes, Huntersville NC new homes and Mooresville NC new homes.
Buyer Tip Videos
Visit my YouTube Channel’s “Home Buying Tips” playlists. There are many helpful home buying videos to watch.
More Home Buying Tips
If you planning to buy real estate in the Lake Norman area, make sure you’re following these simple home search tips. Several common myths about who to call when you find a property you like, the advantages of pre-owned homes, learn about buying new homes and important property tax questions you should ask.
Compare Lake Norman Towns
Moving to the Lake Norman area? No town has the same personalty. Which town matches your lifestyle? Compare these Lake Norman towns before you buy real estate – Cornelius, Davidson, Denver, Huntersville and Mooresville.
Living on Lake Norman
Find Lake Norman Information; the lake towns and counties on the lake. Whether you are purchasing Lake Norman waterfront real estate or planning on boating or fishing on Lake Norman you’ll want to know where there is lake access with boat ramps and marinas. You might even decide to join one of the many boating clubs on the lake.
Lake Norman Real Estate
Planning on home buying or selling a home in the lake area? Search MLS listings that are up-to-date and accurate for Lake Norman real estate for sale, Cornelius NC real estate, Davidson NC real estate, Denver NC real estate, Huntersville NC real estate and Mooresville NC real estate. Don’t forget to search Lake Norman waterfront property. In conclusion, you’ll need to compare these properties, the amenities they offer and the true costs of living in each town.
Useful Links & News
Don’t forget to view Lake Norman links for more information about the entire Charlotte region. Stay up-to-date on the Lake Norman housing trends. Consequently, these sales trends are just as important to home buyers as for home sellers to know.
Thank You for Visiting
The real estate in Lake Norman offers something for every lifestyle. Learn more about Robin A Puckett. Matching homes with lifestyles is the basis for Robin’s Lake Norman real estate business. Therefore, contact Robin if you have any questions.