Buying a new home or a resale home

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Today we would like to talk about Buying a new home or a resale home for our clients. There are a number of differences between buying a new home and buying a resale home. A new home is one that has just been built. You might buy a new home from a contractor who has already built the home, or you might hire a contractor to build it for you. A previously-owned home, often called a resale home, has already been lived in. There are advantages and disadvantages to both.

When buying a new home, it may have the most current materials and features. The purchaser may be able to choose certain features such as flooring, cabinets, and electrical fixtures. In addition, the purchaser may have to pay extra for certain features, such as a fireplace, or trees. Also, a warranty may be provided by the builder of the home, and New Home Warranties are provided by provincial governments.

When buying a resale home, the purchasers can see what they are buying. Additionally, landscaping is usually done and other extras such as a pool or a finished basement may already exist. Another difference when purchasing a new home is that the offer to purchase is considerably longer and more complicated than a resale Agreement of Purchase and Sale. On the other hand, when you are buying a pre-construction, it may be delayed on the occupancy date. So, it is better to be prepared.

Our team is here to help you, please reply if you would like to sell/buy a property!

BABAK MEHRABI, Real Estate Salesperson

https://www.reco.on.ca/

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1 thought on “Buying a new home or a resale home”

  1. I love it when people come together and share opinions, great blog, keep it up.

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