OK. You and your significant other have decided its time to take the leap and buy your first home. You can afford it. Your friends are thinking about it, your parents are cool with it so why not. Now you just have to find it.
New vs Resale: For simplicity sake lets say this couple wants to be in an established neighborhood. They like new construction but its further out from work and seems more expensive than a resale. Newly developed areas tend to have higher taxes, association dues a tad higher and then theres the instant hit if you tried to sell it anytime soon. On the upside the energy bills are likely to be less due to modern materials and efficiency designed into the home. Warranties exist so repairs for awhile wont drain the budget, but don't forget the need to cover the windows and finish landscaping. New homes are usually a bit bare until someone invests in the necessary accoutraments.
Resale: But despite all that, they would also like to have a charming home in an established area...easy commute to work, lower taxes and really big trees! And if we're lucky find the right home with a pool already installed saving thousands.
What should they be aware of when looking at a resale? That depends on when it was built and who built it. Easy to check the build date on the records. Lets say they found one that was built in 1975. Two story, pool, 3400 square feet well maintained by very particular owners. What could be a problem?
Superficial updates. Unless the current owners updated every fifteen years, it needs it. Ceiling may have popcorn texture, floors likely carpeted, vinyl, or some dated tile, countertops various materials. Plumbing fixtures, appliances, light fixtures, cabinetry. That should do it! Wait, there's the mechanical items. On these older homes, in particular built in the 70's and 80's, there may be several mechancial issues that need attention: wiring could be aluminum, pipes could be galvenized, the windows likely single pane, roof how old, slab/foundation performing and the HVAC system.
Don't let this scare you away. Each of these homes are unique. Many owners have already addressed the issues if they exist. What we do is inform the buyer and seek advice of licensed inspectors and contractors to provide status and estimates of updates if necessary
Resales can provide a new homeowner benefits not found in new communities. Often an immediate postivie equity position and the opportunity ability to update with your tastes and desires in mind.
The home at top is located in Sugar Creek subdivision in Sugar Land. 810 Chevy Chase was built in 1972 and has been totally updated from the floors to the ceilings. Pipes, electrical, some windows, roof, light fixtures, appliances, baths, plumbing, pool pumps, water softener, HVAC, insulation and so on. The pool on bottom is another home before it was completely updated located on Sugar Creek Blvd.
Best of Luck in the search. We are here to help.