Sarah Thompson Millenium Agent Since 1990

Meet Our Agents

Sarah knows that owning your own home is one of the most important decisions you will make...and that you need to be prepared for its challenges. Sarah will help you learn the tips, tricks, and steps to be taken that will help your journey to home ownership a bit easier.

Give Sarah a call or email her at sthompson@millenium.com to arrange home tours, reserve a space in one of our monthly seminars or to learn more about our services.

In this newsletter Sarah is going to share with you some basic home buying points to consider as you look for that perfect home.

"There are many factors beyond economics that drive the decision to purchase an existing, new or build your own home. Buying a home should be more of a lifestyle decision, because so much of the economics are beyond your control."

"One of the fundamental mistakes that consumers make is a rush to judgment. They often dismiss a new home or a resale when one is far more appropriate for them than the other."

"So how do you decide which best fits your needs and personality? Below are a few pros and cons in the new vs. resale debate." Sarah Thompson

Location

The oft-recited real estate mantra of "location, location, location is still relevant. Most older, established neighborhoods are in the town's center, which can be good or bad depending on the vitality of your urban area. New subdivisions -- and newer schools -- are generally on the outskirts. But the expense of a daily commute is one factor that many buyers are beginning to consider once again.

Prices of homes outside metropolitan areas are starting to come down just because of the costs in time and money. Public transportation is not always available and we all seem to be rushed with little time for family or leisure. Those who are lucky enough to be able to telecommute for their job at least a few days a week may consider taking advantage of the lower prices.

Calculate your Commutting Costs

Consider the charm of an older Craftsman Style Home

Price Differences
New Build vs. Resale

Existing homes are usually less expensive per square foot, in part because of escalating land costs in new subdivisions. But ownership costs are considered more predictable -- almost inevitable -- in a new home, especially considering the cost of a code upgrade or remodeling of a vintage home. Some builders will include closing costs as part of their price of a new home, although that builder has a set amount he must get from that home to make a profit. Price is more readily negotiable for an existing home. Also, a hidden cost in many new subdivisions is a homeowner's association, with mandatory fees and other assessments as well as architectural controls that may surface at remodeling or expansion time. Do your homework.

Review Neighborhoods - Schools, Shopping, etc.

New Construction
Complications & Advantages

The resale is sitting there waiting for occupancy, warts and all. But the wait for a new home can seem interminable, though the buyer can check on quality control as it's being built. If your finished house is among the first in a new subdivision, prepare to navigate through construction teams and precariously misplaced nails for months on end. And don't forget that daytime hammer serenade.

See Our Newest Listings

Choose Your Home and Your Neighborhood

People moving into new neighborhoods are more homogeneous -- the same things that appeal to you also appeal to others like you. When a development goes up, it offers an opportunity for you to help create your own neighborhood lifestyle. If you want to move into community where your children have lots of playmates, that may be for you.

In an older community, people have moved in and out over the years and you tend to get more diversity of neighbor backgrounds that include older people, singles, families and renters.

Customizing
New and Old

In a new house, you can pick your own color schemes, flooring, kitchen cabinets, appliances, custom wiring for TV's, computers, phones and speakers, etc., as well as have more upgrade options. Modern features like media rooms, extra-large closets and extra-large bathrooms and tubs are also more attainable in ground-up construction.

In a used home, you rely largely on the previous resident's tastes and technological whims, unless you plan to farm thousands into a remodeling and rewiring. Be warned: It's unwise to wallpaper for at least one year in a new house until it settles. The wallpaper will tear. (But it is OK to paint.)

Check Out These Trusted Contractors for New Construction and Remodeling

In This Issue

Meet Our Agents

Location

Price Differences
New Build vs. Resale

New Construction
Complications & Advantages

Choose Your Home and Your Neighborhood

Customizing
New and Old