Resale Homes 101: Common FAQs For Prospective Homebuyers

Shopping for a home is perhaps one of the most important things you go through in your adult life. A home is a tremendous financial investment. The house that you choose to live in may have to be your home for years to come, which means finding a property that works for you is undeniably important. Resale homes are one option that may be open to you as a homebuyer. Take a look at a few of the most common questions buyers tend to have about resale houses. 

What is a resale home exactly?

A resale home is simply a house that has been previously purchased and lived in by a prior owner. These properties are not new-construction homes or built to suit you as a buyer. The majority of homes sold throughout the country are homes that have been owned previously by someone else. Likewise, most homebuyers will be considering homes that are not new when they start the shopping process. 

What are the benefits of buying resale houses?

Buying resale homes does come along with quite a few advantages. One of the most noteworthy advantages tends to be the cost; previously built homes tend to be cheaper than a brand-new house that has just been constructed. Further, you may have a better chance of negotiating with the seller when it comes to the asking price than you would with new construction. Other advantages may include: 

• Lower property taxes, depending on the state where the home is located 
• Likely located in an established neighborhood 
• Finished, mature landscaping on the property surrounding the home

Are there disadvantages to consider with resale homes?

Disadvantages are possible with resale homes simply because the home is used. However, many of these disadvantages can be mitigated simply by doing your homework as a buyer before you ever make a purchase. For example, when you buy a used home, there will be a chance that a roof may need to be replaced soon or an HVAC system is nearing the end of its lifespan. These factors could mean a cheaper price, but if you prefer a home that is not likely to need maintenance soon after you move in, you can also evaluate these attributes early on as a prospective buyer. 

Could a resale home be right for you?

Buying a resale home is an obvious choice for many prospective homebuyers. With the potential to save money on the overall cost and few downfalls to consider, resale houses could be the best option for you as well. Consider your homebuying budget, what is available in your preferred location, and what your wants are in a house for sale to decide if a resale home is right for you.  

For more info about resale homes, contact a local real estate agent.