Don’t buy someone else’s problems unless you can tackle the solutions…
Buying New
There are many reasons for the popularity of new homes. Only with a new home can you choose the floor plan, colors, appliances, and fixtures you want. You get peace of mind knowing you haven’t bought someone else’s problem, and if anything goes wrong, no need to worry, it’s covered by an extensive home warranty. And on top of it all, there is just something really cool about being the first and only person to live in your new house.
Compare the risks of purchasing a used resale home, especially a foreclosure or a short sale, with the security and certainty of buying a new home from ClearWater Homes. The most obvious difference? Everything is new!
| New ClearWater Home | Resale Home | |
|---|---|---|
| New Flooring? | Yes | ? |
| New Countertops? | Yes | ? |
| New Roof? | Yes | No |
| New Electrical Wiring? | Yes | No |
| New Doors? | Yes | ? |
| New Framing? | Yes | No |
| High Energy Efficiency? | Yes | ? |
| Warranty? | Yes | No |
Not only is everything new but it’s also better. Your new home’s appliances are more energy efficient, your floor plan represents the latest concepts and design standards, and the materials used in construction are more environmentally friendly when compared to most older homes.
Also, don’t underestimate the value of your warranty. Every new ClearWater home is covered by our new home warranty. If something fails, breaks or doesn’t perform as expected – we’ll take care of it. Compare this to the “as-is” terms of a resale home purchase. Sure, you could buy a used home warranty, but how much more will that cost?
Buying Used
Let’s say you’re looking at a 1,500 square foot foreclosure for $200,000. This home is in good condition, clean, habitable and fully functional. Despite its condition, you may still need to spend several thousand dollars before you move in. Some of these costs are obvious – new appliances, repaint a couple of rooms and a thorough cleaning. Add in a few chipped tiles, a small leak in a faucet and some landscape maintenance…
Maybe there are a few dings in the drywall, a broken blade in a ceiling fan and you need a new garage door opener. It adds up quickly. Are there any outstanding HOA fees or liens? Are you going to want a home inspection?
It keeps adding up. Are you sure it’s worth the risk?
In the case of foreclosures, the previous home owner is likely to have lived in the home for months or even years after it was foreclosed.
Chances are they spent very little on maintenance and upkeep since this was no longer their home. This could easily add thousands more to the cost of getting it ready for you to move-in. And if they were angry at their situation and took it out on the house, it could cost tens of thousands or more.
Below is a conservative estimate of some of the costs you may be up against…
| Estimated Cost | |
|---|---|
| Used Home Warranty | $1,000.00 |
| Cleaning | $300.00 |
| New Sod and Shrubs | $650.00 |
| Painting | $1,200.00 |
| Carpet Cleaning | $250.00 |
| New Appliances | $2,500.00 |
| Minor repairs | $350.00 |
| Garage Door Opener | $50.00 |
| Total | $6,250.00 |
Peace of mind, brand new everything, and a warranty to back it all up. Buying a new home may actually be less expensive than that foreclosure you’re looking at!
With all the positives of buying new construction, why would anyone even consider buying an older home? Must be because new homes cost so much more than their 10 year old counterparts, right? Wrong!
One of the most common incorrect assumptions first-time home shoppers make is that new construction is more expensive than resale. In most cases, when comparing apples to apples, new homes are very close to the cost of their resale counterparts, and sometimes they are even the same price or less!
Feel free to contact us to learn more about new home pricing and see what you can actually afford.
Are you looking for a new home in Utah? Take a look at our available homes & urban lofts ›
