Saturday, 13 January 2018

Wickham Park Community – Windermere FL | Market Trends for December 2017

Wickham Park Community – Windermere FL | Market Trends for December 2017 – Here is a Market Update and Market Trends for Wickham Park Community in Windermere FL 34786. This update will show you that Wickham Park sold 17 homes in 2017 or 1.46 homes per month. Currently Wickham Park has two active homes for sale. The Median List Price is currently reflected at $229,000 and the Sold Median Price is $285,000. In June of 2017 Wickham Community had 3 sold homes, which reflects the high demand of these homes in this community. The community is zoned for Windermere High School and the demand to purchase a home here is high. The properties for sale in Whickham Park sell at 95.00% of list price and they are averaging 1.46 sold homes per month.

Property Type:	Price Range:	Date Range:	Area Type:
S, T, N	0 – 999,999,999	01/01/2017 – 01/11/2018	SubDivision
Areas:
Wickham Park

Description	Jan 17	Feb 17	Mar 17	Apr 17	May 17	Jun 17	Jul 17	Aug 17	Sep 17	Oct 17	Nov 17	Dec 17	Jan 18
Active Inventory	3	2	3	3		1	2	2	4	2	1	2	2
Sold Average Price			229	200	244	251	222	217	218	254	209	285
Sold Median Price			229	200	285	270	225	218	220	292	209	285
List Median Price	285		275	240		218	235	220	300	340		229
List Average Price	258		275	247		242	233	220	255	278		221
New Listings	2		1	3		3	3	3	2	2		2
Sold Listings			1	1	2	3	2	2	2	2	1	1
Expired or Cancelled	1				1						1
Accepted Offers (AO)		1		3	2	2	2	3		4		1
AO / New Listings				100.0		66.7	66.7	100.0		200.0		50.0
AO / Inventory		50.0		100.0		200.0	100.0	150.0		200.0		50.0
Days on Market (DOM)			177	162	58	21	7	2	1	71	21	28
Mos Supply Inv (MSI)			3.0	3.0		.3	1.0	1.0	2.0	1.0	1.0	2.0
Price per Sq Feet			152	139	142	154	145	146	146	132	146	167
Sale Price / List Price			95.4	97.6	98.4	97.4	98.1	98.8	98.9	99.0	99.5	95.0
3Mo Sold Avg Price	207	207	229	214	229	240	241	233	219	229	230	250	247
3Mo List Avg Price	240	258	263	254	254	244	238	232	234	246	266	249	221
3Mo Price per SqFt	140	140	152	146	144	148	148	149	145	141	140	144	157
3Mo Sale Price / List Price	96.3	96.3	95.4	96.5	97.4	97.8	97.9	98.0	98.6	98.9	99.1	98.1	97.3

If you are looking to purchase or sell a home in Wickham Park Community | Windermere FL, give the Petridis Home Team a call to get started.

Here is a list of active, pending/under contract, and sold for Wickham Park

$575,000 : 8010 US HIGHWAY 98 RD N, LAKELAND

0 beds, 1 bath

Home size: 884 sq ft

Lot size: 2.48 ac

Year built: 1956

Days on market: 5,980
$2,600 : 5800 SABAL TRACE DR #1104, NORTH PORT

2 beds, 2 baths

Home size: 1,489 sq ft

Year built: 2002

Days on market: 5,618
$3,500 : 5350 HYLAND HILLS AVE #2512, SARASOTA

2 beds, 2 baths

Home size: 1,433 sq ft

Year built: 2001

Days on market: 5,001
$849,900 : CR 427 RD, LONGWOOD

0 beds, 0 bath

Lot size: 2.76 ac

Year built: 0

Days on market: 4,738
$1,950,000 : 353 S US HWY 27/441, LADY LAKE

0 beds, 0 bath

Lot size: 3.40 ac

Year built: 0

Days on market: 4,710
$450,000 : 7385 MANASOTA KEY RD, ENGLEWOOD

0 beds, 0 bath

Lot size: 1.24 ac

Year built: 0

Days on market: 4,692
$125,000 : 4310 POINT COURT, PORT CHARLOTTE

0 beds, 0 bath

Lot size: 1.53 ac

Year built: 0

Days on market: 4,652
$2,500 : 28207 RUSSELL ST, PUNTA GORDA

0 beds, 0 bath

Lot size: 30,056 sqft

Year built: 0

Days on market: 4,548
$0 : 1716 W LEMON ST, TAMPA

0 beds, 0 bath

Lot size: 10,018 sqft

Year built: 0

Days on market: 4,476
$338,000 : 1995 MERCERS FERNERY RD, DELAND

0 beds, 0 bath

Lot size: 11.62 ac

Year built: 0

Days on market: 4,387
$3,800 : 1100 BEN FRANKLIN DR #305, SARASOTA

1 bed, 1.1 baths

Home size: 918 sq ft

Year built: 1976

Days on market: 4,379
$65,000 : 139 Swan Drive, Rotonda West

0 beds, 0 bath

Year built: 0

Days on market: 4,344
$1,800,000 : S RICHMOND AVE, SANFORD

0 beds, 0 bath

Lot size: 19.70 ac

Year built: 0

Days on market: 4,336
$325,000 : 434 W E, LONGWOOD

0 beds, 0 bath

Home size: 4,106 sq ft

Lot size: 1.24 ac

Year built: 1973

Days on market: 4,318
$175,000 : 7019 SW CLEMATIS, ARCADIA

0 beds, 0 bath

Lot size: 1.19 ac

Year built: 0

Days on market: 4,318
$29,900 : TRACT A BEATTY RD, BABSON PARK

0 beds, 0 bath

Lot size: 1.54 ac

Year built: 0

Days on market: 4,285
$29,900 : TRACT B BEATTY RD, BABSON PARK

0 beds, 0 bath

Lot size: 1.35 ac

Year built: 0

Days on market: 4,283
$42,900 : LOT 2 BLK R SHEPPARD DR, LAKE WALES

0 beds, 0 bath

Lot size: 22,651 sqft

Year built: 0

Days on market: 4,280
$495,000 : LOG HOUSE RD, CLERMONT

0 beds, 0 bath

Lot size: 3.70 ac

Year built: 0

Days on market: 4,279
$99,500 : 41 COUNTY ROAD 614-A RD, BUSHNELL

0 beds, 0 bath

Lot size: 5.00 ac

Year built: 0

Days on market: 4,265
$99,500 : 36 COUNTY ROAD 614-A RD, BUSHNELL

0 beds, 0 bath

Lot size: 5.00 ac

Year built: 0

Days on market: 4,265
$749,900 : 6406 BRIGHT BAY CT, APOLLO BEACH

0 beds, 0 bath

Lot size: 9,583 sqft

Year built: 0

Days on market: 4,262
$475,000 : S WHITE CEDAR RD, SANFORD

0 beds, 0 bath

Lot size: 2.50 ac

Year built: 0

Days on market: 4,245
$2,200 : 5800 HOLLYWOOD BLVD #126, SARASOTA

2 beds, 2 baths

Home size: 975 sq ft

Year built: 1976

Days on market: 4,202
$195,500 : CR 44 RD, EUSTIS

0 beds, 0 bath

Lot size: 7.20 ac

Year built: 0

Days on market: 4,191
$17,500 : CLARCONA RD, APOPKA

0 beds, 0 bath

Lot size: 3,484 sqft

Year built: 0

Days on market: 4,183
$24,900 : LOGSDON ST, NORTH PORT

0 beds, 0 bath

Lot size: 10,018 sqft

Year built: 0

Days on market: 4,182
$24,900 : VETERANS BLVD, NORTH PORT

0 beds, 0 bath

Lot size: 10,018 sqft

Year built: 0

Days on market: 4,182
$10,000,000 : E IRLO BRONSON MEMORIAL HWY, SAINT CLOUD

0 beds, 0 bath

Home size: 32,000 sq ft

Lot size: 41.00 ac

Year built: 1977

Days on market: 4,148
$95,000 : TOMAHAWK ST, ST JOHNS RIVER

0 beds, 0 bath

Lot size: 5.00 ac

Year built: 0

Days on market: 4,127
$95,000 : 3736 EXCHANGE RD, PORT CHARLOTTE

0 beds, 0 bath

Lot size: 13,939 sqft

Year built: 0

Days on market: 4,127
$3,200,000 : JESSUP AVE, SANFORD

0 beds, 0 bath

Lot size: 30.00 ac

Year built: 0

Days on market: 4,085
$449,000 : ROSE ST, UMATILLA

0 beds, 0 bath

Lot size: 15.01 ac

Year built: 0

Days on market: 4,063
$69,900 : ST RD 17, LAKE WALES

0 beds, 0 bath

Lot size: 1.78 ac

Year built: 0

Days on market: 4,057
$175,000 : W NEW YORK AVE, DELAND

0 beds, 0 bath

Lot size: 22,651 sqft

Year built: 0

Days on market: 4,048
$2,050,000 : 106 ALEXANDER ST, PLANT CITY

0 beds, 0 bath

Lot size: 3.26 ac

Year built: 0

Days on market: 4,034
$19,900 : 102 EAGLE CT, ROTONDA WEST

0 beds, 0 bath

Lot size: 11,325 sqft

Year built: 0

Days on market: 4,007
$25,000 : 14064 DUSTY LN, PORT CHARLOTTE

0 beds, 0 bath

Lot size: 14,374 sqft

Year built: 0

Days on market: 4,007
$14,500 : 14399 APPLETON BLVD, PORT CHARLOTTE

0 beds, 0 bath

Lot size: 10,018 sqft

Year built: 0

Days on market: 4,007
$9,500 : BRISTOL AVE, NORTH PORT

0 beds, 0 bath

Lot size: 11,325 sqft

Year built: 0

Days on market: 4,004
$129,500 : 2547 SR HWY. 50, WEBSTER

0 beds, 0 bath

Year built: 0

Days on market: 4,003
$25,000 : 365 FERN CT, KISSIMMEE

0 beds, 0 bath

Year built: 0

Days on market: 3,982
$7,500 : 959 29 CRK, SEBRING

0 beds, 0 bath

Year built: 0

Days on market: 3,981
$19,900 : 1538 BUCK ST, LAKE PLACID

0 beds, 0 bath

Year built: 0

Days on market: 3,981
$19,900 : 0 WASHINGTON AVE, LAKE WALES

0 beds, 0 bath

Lot size: 21,780 sqft

Year built: 0

Days on market: 3,978
$82,900 : 5086 CEDARBROOK LN, HERNANDO BEACH

0 beds, 0 bath

Lot size: 6,969 sqft

Year built: 0

Days on market: 3,919
$82,900 : 5088 CEDARBROOK LN, HERNANDO BEACH

0 beds, 0 bath

Lot size: 6,969 sqft

Year built: 0

Days on market: 3,919
$400,000 : 1412 S ALEXANDER ST, PLANT CITY

0 beds, 0 bath

Lot size: 1.62 ac

Year built: 0

Days on market: 3,915
$399,500 : 0 TARPON SPRINGS RD, ODESSA

0 beds, 0 bath

Year built: 0

Days on market: 3,909
$49,999 : 8970 ATLAS DR, SAINT CLOUD

0 beds, 0 bath

Home size: 720 sq ft

Year built: 1970

Days on market: 3,901

See all Real estate matching your search.
(all data current as of 1/13/2018)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

The post Wickham Park Community – Windermere FL | Market Trends for December 2017 appeared first on Orlando Florida.

source https://www.orlandoflhomesandland.com/wickham-park-community-windermere-fl-market-trends-for-december-2017/

Tuesday, 9 January 2018

The Compound Effect: Building Your Household’s Wealth

Wealth is within reach for many people; however, according to a recent study, 63 percent of Americans said it’s not likely they’ll become rich. While younger people are more likely to say they’ll achieve wealth one day, only 34 percent of people aged 30 to 49 and 21 percent of people aged 50 or older say the same. There is no secret to becoming rich: it takes time, sacrifice and good financial sense. Here are a few ways to build your household’s wealth.

Building your wealth

Let Compound Interest Work for You
Compound interest is your interest earning interest. While the concept may work against you when you take out a loan to buy a car or use your credit card, it works in your favor when you’re saving money. For example, if your savings is growing at a rate of four percent, your investment will double in eight years and quadruple in 16 years. Your money will grow exponentially the longer you save: the more money you’ve saved, the more your money will grow.

Tap into Your Home Appreciation
Experts expect home prices to appreciate 3.24 percent and grow by 21.4 percent cumulatively.2 If a homeowner purchases a home this year for $250,000, they could earn more than $40,000 in equity over the next five years. Although the home value of the average American family’s home is $165,000, home values vary by market.3 If you’re curious about the value of your home, give us a call!

Build Equity in Your Home
One of the most compelling reasons to own a home is it allows you to build wealth over time. According to one study, the average homeowner has a net worth of $200,000, which is 31 to 46 times the net worth of the average renter.4 Saving for a down payment, especially if you plan to put down more than 20 percent, helps you adopt good financial habits. The more you put down when you buy, the higher your share of equity when you close. Although for the first five to seven years, the majority of your payment will go toward interest, over time more money will be applied to the principal. There are many tools online that calculate your current and future equity in your home, including this one here.

Build equity sooner by choosing a shorter amortization term. While your payment may be higher, you’ll likely qualify for a lower interest rate and will pay less interest over the life of the loan.

Build Equity Faster in Your Home

Mortgage Term	30 Years	15 Years
Loan amount	$118,000	$118,00
Months to pay	360	180
Annual percentage rate	4.0%	3.0%
Monthly payment	$563	$815
Total interest	$84,806	$28,680
Interest savings	–	$56,126

Source: Federal Reserve Bank of Dallas, Building Wealth: A Beginner’s Guide to Securing Your Financial Future

Pay Down Your Mortgage…or Not
Many homeowners grapple with whether or not to pay down their mortgage. On one hand, if you pay it down, or pay it off early, you’ll save money on interest, which you can use to make other investments. On the other hand, if your goal is to be debt free, it’s better to pay off your higher-interest debt, such as credit card debt, first before paying down your mortgage debt.

Additionally, if you’re saving for retirement, putting extra cash toward your retirement accounts will help you build a nice nest egg to enjoy later on.

If you decide to pay off your mortgage sooner, here are a few ways to do so:

Pay more money at the beginning of your amortization period and apply it to your principal.
If you receive a tax refund or other windfall, apply it toward your principal.
Make one extra payment each year. You’ll save money on interest and pay your loan off sooner.
Add an extra $50, or another amount you can afford, to the principal of your payment each month.
If you locked into a 30-year fixed loan, refinance to a shorter, 15-year fixed loan. Your payment may be higher, but you’ll pay it off sooner.

Your financial advisor can help you decide if paying off or paying down your mortgage is right for your goals.

Purchase Investment Property
Investment properties provide passive income to your growing financial portfolio. More than 25 percent of Americans say real estate is the best way to invest money you may not need for the next 10 years.5 While many people flip houses to make money—that is, they buy a home at a low price, fix it up and sell it quickly—others purchase multifamily properties to create monthly cash flow to save or to reinvest in other properties.

The longer you own a property, the better investment it becomes as you’ll continue to build equity. While rental costs rise with inflation, your mortgage will remain the same. The best part? Once you pay off the mortgage, your cash flow will increase. Remember to create a budget for maintenance each month, between 10 to 20 percent of the rent you receive, or more if the home is older. This will help you save more money in the long run and allow you to prepare for unexpected repairs.

There are tax benefits to owning investment property as well. You may be able to claim deductions for depreciation, as long as it fits within the guidelines; repairs, travel expenses, interest and more. If you’re thinking of purchasing investment property, talk to your tax professional to get the details.

Achieve More Wealth by Creating Financial Goals
Setting a goal will help you achieve your desired level of wealth. Once you achieve one goal, reassess and set the bar higher.

What is your idea of wealth? Your idea of wealth will change as you earn more money. That’s why it’s vital to set goals along the way. What do you want your net worth to be in 5 years, in 10 years and in 20 years?
Write down your short-term and long-term goals. Once you have determined your goals, write them down. This is the first step towards getting your desires out of your mind and into motion and it will be easier to refer to them later on.

3. Develop a budget to help you reach these goals. A budget not only helps you understand where your money goes each month, it may also prevent you from overspending. That way you can have more money to save and invest.

Your Budget

Income	$
Earned	$
Investments	+ $
Total Income	= $
Daily Expenses	– $
Monthly Bills	– $
Total Available for Investment	=

To increase the amount you can invest, make adjustments to your daily spending and monthly bills, if possible. Look for opportunities to save money and transfer that savings into your accounts.

It’s never too late to begin building your family’s wealth. Whether you’re interested in buying a first home, upgrading to a larger home or are thinking of renovating, we have you covered. Give us a call and we’ll answer all of your real estate questions and offer suggestions to help you increase the value of your home.

Sources: 1. BankRate.com
2. Pulsenomics, Home Price Expectation Survey Q4 2016
3. Statistic Brain, August 1, 2016
4. National Association of REALTORS, Economists’ Outlook, September 8, 2014
5. The Motley Fool, July 30, 2016

The post The Compound Effect: Building Your Household’s Wealth appeared first on Orlando Florida.

source https://www.orlandoflhomesandland.com/compound-effect-building-households-wealth/

Thursday, 4 January 2018

[IDX-listing MLSnumber=”P4717456″ showall=”true”]

The post appeared first on Orlando Florida.

source https://www.orlandoflhomesandland.com/185446-2/

Wednesday, 3 January 2018

Lake Burden Community Market Trends for January 2017 | Windermere FL

Property Type:	Price Range:	Date Range:	Area Type:
S, T, N	0 – 999,999,999	01/01/2017 – 01/02/2018	SubDivision
Areas: Windermere FL 34786
Sub Division – Lake Burden South

Lake Burden Stats

Description	Jan 17	Feb 17	Mar 17	Apr 17	May 17	Jun 17	Jul 17	Aug 17	Sep 17	Oct 17	Nov 17	Dec 17	Jan 18
Sold Median Price		450	405	268	256	250	735		259	304	285	225
List Average Price	379	270	406	469	385	510	315	385	409	401	353	280
Sold Average Price		450	439	268	308	228	502		232	333	276	225
List Median Price	465	285	286	279	399	575	285	500	415	449	300	280
New Listings	2	2	6	7	3	4	4	2	7	3	5	3
Active Inventory	13	11	13	12	10	12	15	12	12	11	14	13	13
Sold Listings		1	5	1	7	2	2		2	5	2	1
Expired or Cancelled	2		2	3	1	1		3	2	3	2	2
Accepted Offers (AO)	1	4	2	5	4	1	1	2	5	1		2
AO / New Listings	50.0	200.0	33.3	71.4	133.3	25.0	25.0	100.0	71.4	33.3		66.7
AO / Inventory	7.7	36.4	15.4	41.7	40.0	8.3	6.7	16.7	41.7	9.1		15.4
Days on Market (DOM)		94	145	121	26	8	74		69	28	29	14
Mos Supply Inv (MSI)		11.0	2.6	12.0	1.4	6.0	7.5		6.0	2.2	7.0	13.0
Price per Sq Feet		143	145	142	151	141	158		139	148	135	147
Sale Price / List Price		98.9	97.7	95.8	97.6	97.9	96.4		96.6	96.6	98.0	100.0
3Mo Sold Avg Price	258	354	440	416	355	288	329	365	367	304	298	305	259
3Mo List Avg Price	440	304	374	417	430	463	405	407	376	403	388	346	325
3Mo Price per SqFt	134	139	144	144	148	148	151	149	148	145	143	145	139
3Mo Sale Price / List Price	94.2	96.5	97.9	97.6	97.5	97.5	97.4	97.1	96.5	96.6	96.9	97.4	98.7

The post Lake Burden Community Market Trends for January 2017 | Windermere FL appeared first on Orlando Florida.

source https://www.orlandoflhomesandland.com/lake-burden-community-market-trends-for-january-2017-windermere-fl/

Happy New Year To our Customers Friends and New Prospects Searching for a Home In 2018!

Happy New Year

To our Customers, Friends and New Prospects Searching for a Home

In 2018!

Your Neighbors, Your Friends and Your Realtors!

Coldwell Banker Residential Real Estate

From the Petridis Home Team

The post Happy New Year To our Customers Friends and New Prospects Searching for a Home In 2018! appeared first on Orlando Florida.

source https://www.orlandoflhomesandland.com/happy-new-year-to-our-customers-friends-and-new-prospects-searching-for-a-home-in-2018/

Monday, 1 January 2018

Should You Buy a New or Existing Home?

16443 Goodhearth Blvd Clermont FL 34711

Maybe your dream home has the intricate details that you usually find only in older construction – wainscoting and crown molding in the interior, the front porch with a swing, an older tree shading the back yard, and the white picket fence.

Or maybe your dream home has all the conveniences of modern living – open floor plan in the living and dining spaces, large windows, connected, “smart” appliances and security systems, and minimalist design elements.

Whether you go for a brand new construction or an existing home, both types of properties have their pros and cons when it comes to purchasing.

What type of home is right for you will depend on which factors are most important for your lifestyle.

Build your dream home with new construction

If you’re making a home purchase that’s still in the pre-construction phase, you may be able to customize many of the details. Many home builders will give you the option to add design elements that will give you the exact dream home you desire. If it’s a new subdivision, you may even be able to pick which lot you like best.

Very early in the building process, you may have more room to customize. For example, if the walls aren’t complete, you may be able to add extra outlets in each of the rooms or custom wiring for surround sound in the media room. Perhaps you could move the laundry room to the top floor instead of the basement. You might be able to get a separate mudroom entrance.

Later in the building process, you may be able to add marble countertops, an island, and custom cabinets in the kitchen. Your master bathroom could be upgraded with a steam shower, spa tub, and European fixtures. You will want to check with the builder to understand which features are included, and which ones are extra.

New homes save money with fewer repairs and more efficiency

Once your home is complete, all you’ll need to do is move in. New appliances will be under warranty for a few years if they need repairs, and will likely work well for several years without needing fixes. Often, new construction is under a builder’s warranty, so any repairs needed in the first year should be covered.

New homes often contain energy efficient and green appliances, like high-efficiency stoves, refrigerators, washing machines, heaters, or air conditioning units. These energy-saving appliances, along with good insulation and energy-efficient windows, will help you save money on monthly utility bills.

New homes also often use new building materials that require less maintenance — for example, using composite siding instead of wood, which doesn’t need annual repainting. You won’t need to spend as much to maintain your new home.

If you customized it during pre-construction, you won’t need to spend any money on renovations or upgrades for several more years. You can just enjoy it and not worry about saving for major home repairs.

What you need to do to make a good new home purchase

Before you put in your offer, do some research on the builder. Do they have a good reputation? What else have they built? Did their other new properties have issues such as poor construction or unfinished details?

You like the model home, but will you like where it’s situated? After you look at the home itself, come back to the neighborhood to see what it’s like at different times of the day. Walk around during the day and in the evening, and see how you like the area.

Brand new communities usually attract similar types of buyers—urban professionals, couples, or young families, for example. These will be your neighbors, so you’ll want to make sure that you want to be part of this new, homogeneous community.

You may also need to be flexible with your move-in date. Builders will only be able to let you move in if they can meet their construction schedule. If the wiring is delayed, the walls can’t be finished. And because there are so many construction tasks that are dependent on the completion of prior tasks, schedules tend to slip.

Get more variety and established neighborhoods with an existing home

Existing homes are those that have generally been built and lived in between the 1920’s and 1970’s. With existing homes, you will get more variety in home styles, as different types of construction have gone in and out of style throughout the decades. Within one neighborhood, you may be able to find a mix of different styles like Victorian, modern Tudor cottages, tract style, ranch or split-ranch, or contemporary homes.

Existing homes are situated in established neighborhoods, which may have more amenities nearby that a new home in a brand new subdivision may not have. Your new neighborhood may have restaurants, cafes, and boutiques within walking distance.

You might also have access to more supermarkets, dry cleaners, discount stores, and gas stations nearby. An established neighborhood might have a nice park, running path, or playground for the kids to enjoy. You might also be closer to a library or the post office.

Resale homes can be a less expensive purchase

If you’re considering a resale home, you may be able to get into a beautiful, unique property at a lower purchase price than a new home.

There are many more resale homes available than there are new homes — according to the National Association of Homebuilders, about 10 times as many. With such a large pool to buy from, the market for resales can be more competitive. You may have more room to negotiate the selling price of the home. With a brand-new construction, you won’t likely be able to have the same kind of negotiating power.

Before putting a home on the market, sellers often make home renovations or remodel parts of their homes to make them more attractive to buyers and to be able to potentially increase the list price. If the resale home has a brand new, modern kitchen, an updated bathroom, or even a new roof or upgraded windows, you could end up getting a home that’s comparable to new construction without having to pay the potential more expensive new-home list price.

Existing homes have already been inspected at least once on the last sale, so you will know about any potential structural problems or repairs that have been made on the home. Knowing the track record on your potential home will help you avoid purchase mistakes—you’re much less likely to end up with a property that has a rotting roof, dangerous electrical wiring, or a crumbling foundation. With a new home, you could end up with incomplete construction or major issues that you didn’t know about because they weren’t yet documented.

What you need to do to make a good resale purchase

Before you go too far down the road to a purchase, you can protect your purchase by first having the home inspected. A good home inspector will document all flaws, no matter how small they appear. If the inspector finds any major problems, like foundation cracks or leaky roofs, you may be able to counter offer and get the seller to either fix it or reduce the selling price.

Even if the inspection doesn’t uncover any major issues, you will need to expect the unexpected. Older homes will eventually need replacement appliances, a new air conditioning unit, or a plumbing repair. As long as you know that before you buy a resale home, you can plan for surprise repairs.

With an older home, you may want to eventually remodel parts of it. Will you be happy living in your house while you’re doing major work on the living room or the kitchen? If you know that it would disrupt your lifestyle too much, you may want to consider whether you really want to buy an older property.

Whether you choose to buy a new home or an existing home, the best way to get started is to speak with your trusted real estate professional. We will have access to both new properties and resale homes that may fit your goals, and will know which neighborhoods will serve your needs.

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