City of Maricopa Real Estate: New Build vs. Resale Home
The choice of a resale home versus a new build is one that should not be taken lightly when it comes to City of Maricopa real estate. The most limiting factor in the decision between a new build and a resale would be time.
The time factor is so important when dealing with City of Maricopa real estate that it can almost make a buyer need to focus on one over the other. For instance, if a buyer needs to have a house quickly, they really only have one option and that is to go resale. With City of Maricopa real estate, there is an outside chance of getting a new build that is already completed, but in the current market, choices are limited. If a buyer has an “open time frame”, meaning that they are open to move in 2 months or 12 months, then they can consider both new and resale homes!
City of Maricopa Real Estate: Maricopa Newbuilds Pros & Cons
Only the Best City of Maricopa Real Estate!
Pros:
• No immediate repairs.
• Multiple customization options (some builders will have minimal choices, all the way up to a full array of customizations).
• Energy efficiency and environmentally friendly (many older homes were not built with energy efficiency and environmental friendliness in mind).
• The City of Maricopa real estate community is newer.
• Less maintenance costs.
• Smart home (some of the newer homes will have Wi-Fi controls on your air conditioning that can not only help you save money but be more comfortable after a long day of work walking in to a nicely cooled home).
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Cons:
• Longer time frame to move in. builders are quoting at least eight months for a completed home.
• Completion date of the house is a huge window- a four month time frame is usually given for when the home is completed. It will be narrowed down towards the completion of the home.
• Location (outskirts of town).Many of the subdivisions closest to the current shopping are already filled with resale homes.
• Base price versus the final price. The base price is the one you see on the sign driving up to the models.The final price is after you have made all of your structural changes and upgrades for your City of Maricopa real estate. Sometimes there can be a large difference
• Interest rates can change.You are going to be locking your interest rate just before the house is completed. Interest rates can go up between the time the build starts and your closing.
City of Maricopa Real Estate: Maricopa Homes for Sale – Resale
Reasonable Prices on City of Maricopa Real Estate
Pro:
• Timeframe is very specific- you will know what date the home will be yours.
• You can search for a specific location or school district.
• A pool may be included in the sales price. The interest rate on a home loan where your pool is already installed is cheaper than installing a pool afterwards with a private loan with a higher interest rate.
• The neighborhood is established and the landscaping is mature.
• The price of a resale home is going to be a less expensive price per square foot than a new build or spec home.
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Con:
• More risk of expensive item breaking down. This can happen with the brutal Arizona summer. The average life of an air conditioner is between 10 and 15 years on your average City of
Maricopa real estate.
• No customization.
• Less environmentally friendly/energy efficient.Your utility bills may be a little bit higher than a new build or spec home.
• There is no warranty, so make sure the home is inspected thoroughly before purchasing. Also, consider purchasing a home warranty.
• It is a seller’s market currently. Buyers are making multiple offers before getting an offer accepted. Supply is down and demand is up.Buyers are bidding over asking price and still sometimes not getting the house.