Should I Buy a New Home or a Resale?

By Eric Fernwood

I am frequently asked this question and my answer is always that it depends on what matters to you. For example, if you plan to stay in the home for only two or three years and you want a pool, then I would recommend a resale that already has a pool. The reason for this is that typically a home's resell price rises by only about 30% of the cost of the pool. So, if you purchased a $300,000 home and you added a $30,000 pool and sold your home the next day, I would expect your home to sell for about $310,000 to maybe $315,000. So, pools are not really a great investment if your only criteria is appreciation.  If you hover your mouse over each of the topics below, a brief description should pop up explaining why I would tend to suggest a new or resale home based on that single factor. However, this web site is no substitute for working directly with a knowledgeable Realtor. Good Realtors do not cost you, they save you time, money and risk. Especially with new homes. For a few deals I recently negotiated, see Great Deals on New Homes.

Bottom line - whether you should buy a new or resale home depends on your specific situation and tastes.  Either can be good deals and there are advantages to each.

If you are considering buying a home in Las Vegas, please give me a call.  Also, if you currently own a home and need to sell it before you buy another, I offer discounted pricing when I both sell your current home and you buy your next through me.  Call for details.

© 2006 Eric Fernwood - All rights reserved

Eric Fernwood
Eric@ISellLVHomes.com
702-358-8884