Denver New Homes | Home Buying Guide: New Homes vs. Resale Homes

When purchasing a home the choice should be more of a lifestyle decision than anything else. Most people have a strong preference either for a pre-owned home in an established neighborhood or a brand new home that no one’s lived in previously. The person desiring a classic old style cap cod home or a Loft Style property, for example, would probably not like the thought of moving into a track home in a planned development.
Pre-owned Homes

There are many quaint old neighborhoods like City Park or Parkhill where homes were built with architectural variations from house-to-house. Charming with their own character and history is usually how one would describe these older and established neighborhoods.

Although older homes can be quite lovely and full of personality, one must consider the probability of the need to update, remodel, restore and repair in the not too distant future. This could potential make buying an older home less cost effective and worth the headaches which are attached. Potential problems arising in older homes will rear their ugly heads at any given time and without notice. And without the 1-year warranty (standard for new home) in your back pocket, you are basically on your own. You can purchase a home warranty from a secondary market carrier that will cover the mechanical in the home problems but larger more expensive structural issues would not be covered.

So that you’re not caught financially off-guard when purchasing a resale home, be prepared to face these inevitable expenses – sooner than later. Despite the possible unknowns involved in purchasing a pre-owned home, there are folks out there that would never dream of exchanging what they believe to be a home That matched their own specific tastes and values.
New Homes

Now let’s review the alternative which is buying a brand new home from the many builders in the Denver metro area. Although the price tag on a new home may be more expensive than purchasing an existing one, it’s probably not going to need much in repairs or replacements. And if something does need fixing, a new home is typically covered under warranty. Builders in the current market environment also offer many features, amenities and discounts due to the current competitive real estate market.

Also, many new home feature layouts that you wouldn’t find in most existing homes, such as spacious master bedroom suites, great rooms, over-sized family rooms, lofts and game rooms. And with energy efficiency built into the design of new home, you’ll have better insulation, better windows, and more efficient air conditioning and central heating than older homes. The best choice between a pre-owned and a new home will be relative to a buyer’s personal tastes and preferences.

Tom Reed and Bill Brown are local authors and real estate experts of Legacy Real Estate Brokers Inc. in Denver Colorado. You can visit their website at www.discovercoloradorealestate.com.