Title

What Everybody Ought To Know About Buying A New Home Or Resale In Wasaga Beach Or Collingwood

Its not all down to cost

They is no shortage of new build developments or resale listings in Wasaga Beach, Collingwood and the surrounding Georgian Bay area.

What are the advantages and disadvantages for buyers?
The one overriding issue is time. Unless the developer has inventory homes then a buyer can wait 1 to 2 years for a property to be built. A resale is normally available in 30 to 60 days. Each buyers individual circumstances are different so there is no way to generalise about the impact this waiting period will have; it can be a plus or a minus. There are however more obvious pros and cons to buying new or a resale.

NEW POSITIVES:

• Well its new. Up to date layout, materials and features.
• Choices. Buyers can decide on upgrades, colours , flooring etc at a “Decor Centre.” They can also spend a huge amount of money
• Standards. Latest building codes are in place as well as electrical and energy efficient systems. Some developers specialise in “Energy Efficient” homes.
• Lower running and maintenance costs. Everything is new and under  warranty so no nasty surprises if items break down.
• Builders warranty. Check the small print!
• New home warranty e.g Tarion.
• Local amenities. Many new sub divisions are built with an infrastructure of schools, shopping and other services. However this can be a negative if the building is not finished for months or years.

NEW NEGATIVES:

• Costs. Very skilled sales people are employed to sell upgrades. A home that at first seemed a reasonable purchase can suddenly cost ten of thousands of dollars more after upgrades.
• Oh No Taxes.GST will apply and from next year the dreaded Harmonized Tax.

RESALE POSITIVES:

• Well its not new. Many new builds are bought off plan or only having viewed a model. With a resale you see what you are buying.
• The neighbourhood is likely to be mature with all the landscaping in place and community services established.
• NO TAXES   ( in most circumstances.)

RESALE NEGATIVES:

• Extra costs, sometimes substantial. From cosmetic paintwork to renovations or major repairs or replacements. Some of these may only become obvious after closing. A good Home Inspection could save $1000′s.

This entry was posted on Monday, June 29th, 2009 at 7:24 pm and is filed under The World Of Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply