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There are advantages and disadvantages to both new and resale homes. Here
are some of the characteristics of both that may help you make your choice.
New Home
Advantages:
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You may be able to upgrade or choose certain items such
as minor structural changes, finish materials like painting, flooring,
cabinets, plumbing and electrical fixtures. |
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The latest building code, electrical and
energy-efficiency standards will apply. A builder warranty is usually
available (depending on region and builder). This can be important if a
major system, such as plumbing or electricity, breaks down. |
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Unless you are a builder, warranties do not apply to
homes you build yourself. |
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There may also be incentives provided by the state for
certain localities and one should consult local authorities in this
regard. |
Disadvantages:
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Neighborhood amenities, like schools or shopping, may
not be complete if the house is in a new development area. |
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There may be construction noise and traffic. |
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There may be little to no landscaping or trees. |
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The % Registration charges apply to new housing. (not
complete – To be completed with full details and particulars ) |
When purchasing a new home, make sure you ask your builder for a Homeowner’s
Manual if any. Customized for your home, the Homeowner’s Manual is your
permanent reference tool that provides practical tips and instructions for
the upkeep of every aspect of your home as well as warranty information and
a maintenance calendar.
Resale Home
Advantages:
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It will probably be in an established neighbourhood. |
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Landscaping is usually done and fencing installed. |
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It will probably have shops and all other amenities in
the near vicinity. |
Disadvantages:
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Maintenance costs will likely be higher than for a new house. |
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You may require a professional home inspector to check
for structural or other problems. |
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You may need to redecorate, or even renovate. |
The Homeowner’s Inspection Checklist is a practical, easy-to-follow guide
that will assist you in identifying symptoms, causes and cures to common
household problems.
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