New Homes vs Used, pre-owned

New Homes vs Used, pre-owned

Posted by Kevin Grenier on Thursday, October 24th, 2019 at 4:44pm.

New or Used? Kevin Grenier REALTOR®

When buyers come to me looking for guidance I always include both new homes and used (pre-owned) homes. Many buyers are surprised to find that I also work with new home builders and once they understand the benefits, far prefer it to working with the builder's sales staff.
But what are the benefits of new vs used?


New

- latest building practices including 4x6 walls, increased insulation, heat recovery ventilators and child safe receptacles
- comprehensive 1yr builder warranty (some builders offer 2 yrs), additional New home warranties (additional 4-10 yrs or more covering various items)

Pre-owned

- typically located in mature areas with established schools, larger trees, typically shorter commutes to city centre
- less likely to be "cookie cutter" with potential for more "personality"
- renovated homes offer transferable contractor and product warranties
- can be fully turn key including window coverings, landscaping, fencing & decks (typically not included in many new builds)
- unrenovated homes offer the opportunity for "sweat equity"
- typically larger lots and wider front streets with some mature areas having both front attached garages and back lanes (no hauling garbage to the curb)
- the foundation settling has in most cases happened leaving relatively stable, drywall screw pop and crack free walls.
One recent client didn't mind the extra commute to work and liked the idea of a new, never lived in home. We found a good builder with a home priced well and they even threw in the landscaping, garage & window coverings.
Another client is selling their pre-owned renovated home in Ottewell, a lovely mature area 10 minutes from downtown, with a large yard and open concept great room, which will make someone very happy.
In short I always recommend looking at both new and used, this way you can make a more fully informed decision that best suits your needs.

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