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.
Advantages that make Pre-Owned homes 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.
Pre-Owned, Close-in convenience
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.
Cost savings
Resale (pre-owned) 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.
Pre-Owned, More green space
For tree lovers, resales are a big draw. Pre-owned 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, pre-owned homes. They have 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.
Pre-Owned, 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.
More Home Buying Tips
If you planning to buy real estate in the lake 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.
Find more information about the home buying process, how to find a Realtor, some property search tips, what happens from contract to closing and ask questions at home buyer help
Buyer Tip Videos
Visit my YouTube Channel’s “Home Buying Tips” playlists. There are many helpful home buying videos to watch.
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About Robin
Robin is a licensed as NC real estate agent. Robin works in the lake real estate market towns of Cornelius, Huntersville, Mooresville, Denver NC, Davidson and Charlotte NC. She will educate you and ensure you are taking advantage of the best market opportunities. Robin will also help you set realistic expectations. Furthermore, she will walk with you through the entire process. Home buyers can trust Robin to help them find a property of their dreams. Home sellers will receive unparalleled exposure to their listings. She will assist her clients in negotiating the best possible price. She will also do her part in keeping your transaction running smoothly! Ask her any general question about real estate in NC and around Lake Norman.
Learn more about Robin, view Robin’s Listings, Virtual Tours, Tour Factory Virtual Tours and Open Houses. Finally, see her Sold Listings.
Thank You for Visiting Pre-Owned Home Buying
Lake Norman pre-owned home buying offers something for every lifestyle. Matching homes with lifestyles is the basis for Robin’s real estate business. Most of all, contact Robin if you have any general questions.