What kind of houses are available on the market?
Do I want to live in a brand new home?
New homes are usually sold by the building contractor or developer. So you're not dealing with an owner currently living in the house. A new house might also be one of many in a larger development. With a new home, there are a number of factors to consider.
- Value of "newness"
- Value of low, early-years maintenance
- Advantages and disadvantage of living in a new community
- Location of a new development to community and commercial services
Do I want to live in a resale home?
- Value of a warranty offered by the vendor
- Value of living in an established neighbourhoods
- Value of living close to established community and commercial services
- Value of mature trees and gardens
- Advantages and disadvantages of age (heritage charm verses potential repair, maintenance, and renovation)
- Future costs due to normal exposure to weather and settling
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