The larger caveat, and this applies to home buyers who intend to occupy or investors, its how long you intend to hold.
In most new construction projects the builder(s) phase in construction. This deliver of brand new product over time tends to dramatically temper the appreciation. Depending on the phase and build out, you may see little to no appreciation in a new construction area.
In existing areas of Austin that are built out with established neighborhoods, you'll likely find a more robust appreciation rate in the short to medium time frame.
My question. From your post, could you clarify what your goals are and whether you are an investor or home owner who intends to occupy the home yourself?
Kristee Leonard, REALTORÂ®
Broker, GRI, SFR
New homes are harder to sell if you hold onto them less than five years as the builder is probably still building out the neighborhood and its tough to compete with all of their incentives. Not to mention your going to be living in a construction zone, so plan on buying some new tires because construction debris is hard on tires.
REALTORÂ® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
email@example.com | http://www.AustinListed.com
Many people will place the value of an older home higher if it is well kept, in the right neighborhood and offers more than new construction. This however works both ways. An experienced agent like me can help you to define your needs better.
If you're not yet working with a good Realtor and would like some excellent no-cost professional assistance in this matter, feel free to contact me and I will be happy to represent you and steer you in the right direction, depending on what your needs are and what your financial goals are regarding the home. I represent buyers like you at no cost, and am a Realtor with Keller Williams Realty, Austin's #1 Real Estate company, Ranked #1 by Buyers and Sellers! (JD Power and Associates 2012).
Joe Jarusinsky, Realtor, Keller Williams Realty, 512-261-4415
Resale home or a NEW built?
Well that is questions for an individual preference.
Resale homes :
you will know your neighbours who they are presently.
Kind of area that will has been kept up or not ?
Over grown green old trees... etc etc.
But New built you will get a warranty from the builders.
Plus lately there is not much of a price differnece.
New homes have recent tech. savy energy efficiencies.
Contact a Realtor who will represent your interest in the transaction.
It's a question that has no one answer unfortunately. Each area and the options available help guide us to the right answer. I just helped my daughter select a "new" home. After careful consideration of the existing inventory, prices and age versus the available "new" construction it became obvious in this case a "new" home was the answer. Why: 1) Age 2) Energy efficiency 3) Features 4) Community Amenities 5) Location 6) Schools within the ISD 6) The lack of additional lots/development within the neighborhood thus limiting the builders ability to reduce values at closeout.
Best wishes. I'd be happy to assist you if you choose to contact me directly. I do not follow these posts.
Bill Austin ~ 512-709-6343 ~ firstname.lastname@example.org
Somewhat like buying a car....probably not the terrible economics of buying a car, but somewhat the same principal.
It may also depend on how long you plan to stay in the home. Six months or a year, I would think for sure the preowned is probably better on resale.....should be very close to your purchase price in many cases. One year old new purchased home, well the buyer might rather buy from the builder with warranties in place and getting never used, never touched product. I hear this often from buyers. Why would I buy "that" house when I can get a new one from the builder at near the same price.