Today's RE/MAX Capital City Sponsored Sales meeting and Agent Property tour showed off a home on the RESALE market in Crystal Falls that was a real gem!

This home, recently built by Saratoga Homes is located in the Highlands Subdivision at Crystal Falls.  It is situated on a beautiful corner cul-de-sac lot with a fabulous view and quality upgrades throughout, being offered at an attractive price

However, it is not uncommon for properties like this one to be overlooked or unnoticed by Buyers. Especially with the amount of interest in New Construction.  

Today, about 30% of all home purchases that take place fall into the category of NEW Construction and if you are already convinced that NEW is for You, be sure to stop by and check out my What's New News for the Cedar Park Leander Housing Market.

With this much interest in New Construction, Builders and Consumers alike are always on the look out for the next best thing and it comes in many forms.  Some like the idea of a brand new home simply because everything in the home is NEW and the chances of an appliance failure or major issue with the home itself are greatly reduced.

Let's face it, there are a lot of great things that new homes have to offer and there may be many valid reasons to make an investment in a new home.  Some newer communities offer unique floor plans, stylish newer design elements, advancements in energy efficiency, quality of building materials, finish out, state of the art appliances and furnishings not found in an older home.

The cost of a new home may be as much as 20-30% higher than a comparable home on the resale market.

Notwithstanding affordability, location preferences, and other interests may also limit New Home options for a Buyer, making a RESALE home purchase preferable.  Because a small percentage of all new homes are turned back to the market sooner than the original owners may have planned, there often seems to be an opportunity in the resale market for something close to new, at attractive prices.

Buyers may Find some Gems in the Resale Market 

In my opinion, this can lead to some of the best deals in the marketplace for a Buyer!  Especially for homes, like the one we saw today, that have been improved by the owner, well maintained, and only occupied for a few years after being new.  Homes like this usually become available on the resale market for one of these reasons:

A.) Seller has been promoted and/or Employment requires Relocation

B.) Changes in Relationships or Marital Status forcing a Sale

C.) Economic Hardships and Loss of Employment

Situations like this may mean great savings for the Buyer!  Now, not all circumstances are the same for Sellers and some may be more motivated than others, so this doesn't always mean they have to sell at a loss.  Still, it is not uncommon for homes on the resale market to have several thousand dollars of improvements and upgrades made to them, not part of a new home package, that the Seller will have difficulty recovering the money for when selling.

Premium Lots - Landscaping - Premium Upgrades  and Views can add Tremendous Value

Lot Premiums, Exterior Landscaping, Window Treatments, Upgraded Fixtures and Appliances can add several thousand dollars to the purchase of a new home for the Buyer.

For owners who have invested in these areas and not allowed enough time in the market place for these improvements to mature, in can be very difficult for them to sell the home and recover the expense of these upgrades quickly.

This is especially true in any market where the Builder is still active in the same community or location and willing to offer similar upgrades to a Buyer at a lower cost if they include them in the purchase.

The home we visited today for example, is located in a great community with a great view.  The Buyer will not have to deal with any of the hassles of new construction while he is living in the home because the construction phase for the neighborhood, is complete for this section and almost complete in the surrounding sections.

Sometimes Buying Resale Can Have Advantages over New

The prior owner has already made a plethora of upgrades to the home, adding landscaping, upgraded finish materials, a finished walk-out basement, and some very nice choices in fixture and appliance upgrades.  Comparing this home to new at the current offer price, it really is a tremendous value. The home is in impeccable condition and very tastefully decorated.

Since the home is "almost" new there are still some builder warranties in place for the big stuff like the foundation but the home shares all the amenities of the newer community that is continuing to be built around it.

Children would go to the same schools and the location is virtually the same, with close proximity to all the same amenities, highway access points, employment centers, schools, shopping, churches and medical facilities.

When you find homes like this, especially gently used homes, you may just be looking at a "Gem" in the Resale Market.