WHAT ARE THE PRO'S AND CON'S OF PURCHASING A USED HOME INSTEAD OF A NEW ONE?

[jamevfan]

I WANT A NEW HOME IN A NEW NEIGHBOR HOOD BUT MY HUSBAND AND I ARE TOTALLY UNINFORMED BECAUSE WE ARE BOTH YOUNG AND 1ST TIME HOME BUYERS, SO WHAT RISKS ARE WE TAKING WHEN BUYING A USED HOME? (OWED TAXES FROM PREVIOUS OWNER?) ETC..

[ponderous]

The biggest decision making factor for me was knowledge of the neighborhood and neighbors.  I was looking at new construction but when you have all of these dwellings being purchased around the same time then you really have no way of knowing how the neighborhood is beforehand.  That is not necessarily a bad thing, but I was super sensitive to not wanting any more risk then necessary in getting a bad neighbor or bad neighborhood.

I chose to purchase in a smaller sub division that is 10 years old.  It is now a bit more established and you can get a better feel for how people care for the yard and maintain the house, if they are going to have 6 or 7 cars parked outside,etc.

I have also found that it usually takes a year or two for bad construction to really make itself known.  I did not want to risk that either. 

There are other things but these are the ones that jumped to my mind and were some of the most important to me.

[fishbjc]

We built new in the 2nd phase of a five-year old subdivision.  Most of my neighbors have small children, which I like and my dh enjoys.   The ONE THING you will need to be aware of:  What the costs are to install a lawn, sprinkler system and landscaping.  Also, get a quote on a deck or patio.  I'd say that will run you a good $10,000 -15,000 off the bat.  Appliances is another concern.  You will need to purchase those in a brand new home unless the builder offers a package.  Be careful of those packages though as it will cost you a lot of money in the long run unless there is a *rebate*.

The one good thing about new neighborhoods is the fact that everyone starts out on even footing as far as friendships are concerned.  If you're a social person, this may be great for you.  If you move into an established neighborhood, there can be *cliques*, which is so juvenile, but they do happen.

You can get a new build pretty much to suit your preferences as far as floor colors and cabinetry though.  Lots to think about!    When purchasing a *used* home, you're not responsible for back taxes (usually) but check with a realtor about searching for liens, etc. 

Myself, I much prefer older homes with character......someday.

[fishbjc]

Our builder gave us a 10 year warranty on our home.  Also, you may want to check the association handbook.  Our association does not allow certain types of vehicles parked in the drive way and they're sensitive about lawn maintenance.  Our community only allows trash to be put out after 7:00pm the night before pick-up or you can get a ticket.  Dogs must always be leashed or risk a ticket, etc.  All lawns had to be installed within six months & trees had to be installed as well.

We also have to keep a certain color scheme and all decks, etc must be a neutral organic color.  We can, however, paint our front door a color of our choice...woo hoo. 

My dh and our neighbors are so *lawn picky*...I think they call each other up and discuss when the lawns will be cut so they're all a uniform height....too funny!