Home Buying in 87507>Question Details

Jolenemtz, Home Buyer in 87507

rancho viejo community homes, do you have any opinions on that new build?

Asked by Jolenemtz, 87507 Thu Aug 25, 2011

I was told that not to buy a new home build. It was told to me that to purchase a home that is 0-5 years because previous owners have paid into home and a new home even thou they advertise can be more costly

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8
Well my answer is coming in a year later. Why? Everything in real estate has changed and continues to do so. For example, Rancho Viejo is building new custom homes. Yesterday, we helped another buyer find a lot for their to be built home. A few months ago, our 2nd home buyer moved into their new Rancho Viejo home. Our clients who select Rancho Viejo are lst time home buyers who are able to purchase with FHA financing and 3.5% down. Our second home buyers want warranties on their new home and conventional financing is available for new construction Rancho Viejo. The bottom line about Santa Fe real estate is to stay current by working with Realtors who are experienced and full time. If you want more information about how we work with lst time home buyers or 2nd home buyers looking for value in affordable new construction, do not hesitate to contact me at 505-660-4541.
0 votes Thank Flag Link Mon Apr 30, 2012
In the area you are looking for you can buy bran new never occupied bank owned property with high end finishes. If you are looking for a bargin.
Suzanne Taylor
Taylor Properties
505-470-0818
0 votes Thank Flag Link Thu Aug 25, 2011
I couldn't agree more with Beverly when she says "I would buy based on the love of the home...." - all other things (price, size, location, etc.) of course being equal.
A home is a place you will hopefully spend many happy years in, so don't buy one based on price alone. Stay within your budget and what you and your financial institution feel is comfortable (and that you qualify for). Then go out and look for homes within that budget - brand new or lived-in - and select the one that appeals to you the most. Buyers generally make a decision based on what their heart - not their head - tells them. A good Realtor will help you with the important "head" part (location advantages, giving you comps, pointing out construction quality pluses and negatives you may have not seen, etc.), but the "heart" part is something only you can factor in. A decision should be based on what your head knows AND what your heart feels.

Enjoy the process, and good luck!
-Spence
0 votes Thank Flag Link Thu Aug 25, 2011
Rancho Viejo is a very nice developement but the amount of the association fees this day in age are not reasonable. There is a development that is closer in to town that is located before you get out to Rancho Viejo called "La Pradera" which is an environmentally-conscious planned communityy made up of 140+/- residential lots. It is a planned unit developmenty (PUD), that will be 50% green/open space for the owners who will live there. The price per squre foot starts around $150.00/per sq.ft. and the floor plans and builder that is involved with La Pradera can create just about any idea that is put infront of him. The association fee $98.00/Mth is for street and road maintenance, and for the private wastewater/sewer treatment plant that was created for La Pradera. The brown water is recycled for use on the existing plants and new trees and schrubs that have been planted thoughtfully throughout the community. The homes that are being built there are Green Built Homes and have a very small footprint for energy savings.
0 votes Thank Flag Link Thu Aug 25, 2011
In today's market, you are right in understanding that a new home build can cost more than a used home. The used home can have many attributes that new homes don't have. Things like landscaping, window treatments, all appliances, etc. New homes usually lack in some of those areas. Another thing to remember, however, is that the new home comes with a warranty. Builders are required to give no less than a one year warranty, and then the subcontractors usually give longer warranties than that, depending on the item. My family are "new home builders" so it is hard to not tell you to run out and buy the new home! It is still a good value in today's world, as all builders are having to lower their mark-ups and profits in order to "make a deal" with today's buyers. I would buy based on the love of the home if I was you! Hope this helps!
0 votes Thank Flag Link Thu Aug 25, 2011
Well you could buy a new builder home at the new market rate or buy a short sale or bank owned for a lot less.
Suzanne Taylor
Taylor Properties
470-0818
0 votes Thank Flag Link Thu Aug 25, 2011
Yes there are many answers to Rancho Viejo, Depending are you going to use the home for a primary residence and how long are you going to live there. Rancho Viejo has a 30 year build out time table.
Suzanne Taylor
Taylor Properties
0 votes Thank Flag Link Thu Aug 25, 2011
Yes, there are many answers to Rancho Viejo, if you like that area and want to live there it is a great place to be. If you are an investor that is another story. Are you going to live there? For how long of a term are you thinking?
0 votes Thank Flag Link Thu Aug 25, 2011
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