Putting up 20% for a down payment on a home is a big ask, especially for a Millennial. These last ten years have been rough, and have left many Millennials burdened with enormous college debt,
New Home Or Resale
There are many differences between buying new and buying a resale. Here are just a few things that could help with making a decision.
Warranty that covers components of the home from 1 to 10 years.
Everything is new! Have you ever thought about the carpet, toilets, bathtubs in a resale? With a new home you know what you are getting.
Typically new or very close to new amenity center.
Potential for gaining equity faster than a resale. Why? Because builders have price increases based on number of sales. The newer the community is the more likely the same floor plan will sell for thousands more in a few months.
Resale homes can be great too! Most of the time the community is established so you know who your neighbors will be and what to expect from the amenities.
Large trees! Most resales will have larger, more established trees, which means more shade!
Maintenance for new homes and resale homes is the same. Research home maintenance and perform needed maintenance on your home. This is important to increase the life of your home and also helps reduce costly repairs.
Butch Gilley is a Real Estate Professional in the Austin and surrounding areas and has helped hundreds of clients find the home of their dreams. After graduating from The University of Louisiana at M....
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