Home Buying in Denver>Question Details

Charles Davis, Home Buyer in Denver, CO

My wife and I are weighing the costs between building a home and purchasing a turn key when I exit the military next year. The biggest concerns we hav

Asked by Charles Davis, Denver, CO Sat Aug 23, 2014

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3
Charles,

Claire gave an awesome answer. Only thing, if you decide to buy a new home, for your own sake get a local Realtor to help. I am a loan officer who specializes in VA loans. The deals that are the most problematic are usually new builds with no buyer's Realtor to help. Believe me a good Realtor can be a lifesaver. Hope this helps.

Thanks,
Brent Mendelson
1st Mariner Mortgage
nmls#111407
1 vote Thank Flag Link Mon Aug 25, 2014
My husband and I purchased a new build last year. It is a fun process but many buyers overlook the additional expenses that come with a new build, such as landscaping, window treatments, appliances, etc. In addition, the base price advertised is seldom the price you end up with at closing. Many buyers will spend an additional 15-30% in upgrades - sometimes on things that should seem standard like an A/C unit. Pay close attention to the standard features. Most builders will really deck out the model home with upgrades, but will offer very basic standard/included features (it varies from builder to builder).

The advantage of a resale is you get to have a shorter closing timeline, most homes can include the appliances and window treatments, landscaping is usually done, and you don't have to worry about expensive cash funded projects upon move-in. The disadvantage is that you are left with design choices made by previous homeowners and you don't have the safety net of a builder's warranty.

Let me know if you need any help finding a place...and good luck!

Best,
Claire Spahr
KW Advantage Realty
720-989-1362
http://www.bluebirddenver.com
claire@bluebirddenver.com
1 vote Thank Flag Link Mon Aug 25, 2014
Great answer Claire! I'm only going to add one thing above if that's OK.
Thanks,
Brent Mendelson
1st Mariner Mortgage
nmls#111407
Flag Mon Aug 25, 2014
There are a lot of pros and cons to both. With new construction you can pick and choose your colors etc but you have other expenses such as landscaping etc that are not included in the price. With resale, you know what you are getting.
0 votes Thank Flag Link Mon Aug 25, 2014
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