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Buying a Home in Phoenix – New v. Resale Homes

If you are in the market to purchase a home in the Phoenix area, one of the many decisions you will need to make is whether to purchase a new construction home or a resale home. The Phoenix real estate market typically offers a wide variety of both options from which to choose. Taking some time to consider the pros and cons of both options may assist you in making the decision.
Resale homes for sale in Phoenix offer a number of advantages beginning with an established neighborhood. When you purchase an existing home, there will be no surprises after you move in. Relevant crime statistics, school test scores and other demographic information should be readily available for an established neighborhood. In addition, purchasing a resale home dramatically decreases the possibility of a delay in the closing date or any last minute problems with the home being ready for occupancy. If your situation leaves no room for flexibility on the move in date then a resale home may be a better option. An existing home may also have more “character” and “charm” than a new construction. On the other hand, that “character” may also equate to costly repairs and upkeep if the home is more than a few years old.
Phoenix also offers homebuyers the option to purchase a new construction home, which comes with advantages and disadvantages. A new home typically comes with a new home warranty, meaning that virtually everything in the home is under warranty when you move in to the property. Of course, the flip side to that is that there may be some “kinks” in the home that will have to be worked out after you move in as well. Another plus to purchasing a new construction home is that you will be able to choose things such as flooring, cabinets, and countertops. Even if you are not purchasing a custom home among the Phoenix homes for sale, you will still likely be able to opt for upgrades to the interior of your home such as granite countertops or high end fixtures if you elect to do so. Unless you can afford a completely custom built home, chances are that your home will look very much like your neighbors on the outside if you opt for new construction. If all goes as planned, a new home should appreciate significantly in the first few years as the neighborhood blooms and establishes itself. For this reason, you may have more appreciation in a new construction home than in a resale home in the first five years. This, however, does involve some risk because there is no guarantee that the neighborhood will flourish as expected.
When considering the selection of Phoenix homes for sale, home buyers will need to decide whether to purchase an existing home or a new construction, and this decision often comes down to personal preference. Nonetheless, understanding some of the pros and cons should put you in a better position to make a decision that you won’t regret. A professional Arizona real estate agent who is experienced in servicing the Phoenix area can be a great resource for homebuyers who would like more guidance.