Hi everyone. This is your Tampa Bay
Realtor Lance Mohr and this week I got a
question from a first-time home buyer
and I thought it was a really good
question so I wanted to share it with
you so the question is for first-time
homebuyers is it more cost effective to
build a new house or buy a resale I
thought that was a great question and
I'm gonna address this in the video all
right so I think that's a really good
question and it's actually a question
I'm sure that's on a lot of people's
minds should I go resale should I go new
what should I do and the first thing I
would say I'm gonna go over the Tampa
market but I think this would pretty
much apply to any market out there but I
don't want to certainly speak to someone
if you're living in New York and Des
Moines Iowa or something like that so it
really depends on how long you're gonna
be at home that's the first question you
need to ask yourself with any home
you're buying are you gonna buy a home
living it maybe three to five years and
then relocate outta state are you gonna
buy a home living in three to five years
and then maybe you're gonna sell it buy
another home or maybe you're gonna turn
it into a rental property keep it for 30
years so what's your long-term plan for
the home because you need to know that
first now if you're buying a brand new
home and you're comparing it with the
home and the subdivision or in the area
that's one to two to three years
difference there's probably not a big
difference on the surface but it depends
with the prices because keep in mind if
you buy a brand new home from a builder
you're getting all the warranties you're
getting the warranty the Builder offers
it's usually a one-year on basically
everything if it has to do with
appliances well you're gonna have a
warranty from whoever's providing the
appliances whether it's GE or whomever
it is but that's a little different than
if you're buying a home that's a year or
two old because it's not going to be
warranted by the Builder so it really
depends on what the price level is in
what you're buying now if you're
comparing a home that say
brand-new with the home that might be
let's say 12 years old it's gonna be
different but the first thing you need
to do is again think how long you're
going to be in the home the second is
you have to compare apples with apples
so it's hard to take a home over here
that's brand new that's in a real nice
subdivision in a real nice up-and-coming
area and compare it with the pre-owned
over here that's sort of in an average
subdivision has to be apples and apples
so in other words or maybe you have a
pre-owned over here that's in a really
nice subdivision that's established and
then you have a brand new home over here
maybe it's just an up-and-coming
subdivision maybe it's enough incoming
air and you're not really sure how nice
it's going to be so you have to look
into that and trying to compare apples
and apples but anyhow so let's say you
have a home and it's brand new and
you're comparing with the home that's
twelve years old there's certain things
that you have to think about now
obviously the first that comes to mind
is the energy efficiency there's a big
difference between a home it's brand-new
now and then a home that might be five
ten or fifteen years old or older
because technology like an hour areas if
you're gonna buy a brand new home it's
gonna be a lot better as far as
technology energy efficiency so homes
twelve years ago they had single pane
windows homes now they're pretty much
all double panes our insulation code was
our nineteen now builders aren't really
putting in our 19 because they can't
have butters rainy and they need to hit
so at a minimum they're gonna put in in
our 38 and this an are 30 in the ceiling
so you know the better builders will go
with the are 38 back in 2010 years ago
12 years ago they didn't really have
radiant barriers now a lot of the
builders are putting in radiant barriers
were a very hot state so it definitely
reflects the heat and there's a lot of
Technology and there's a lot of other
technology as well everything now is
very very energy-efficient the hot water
heaters are energy efficient the HVAC
units are going to be a lot more energy
efficient even the dishwashers the ovens
the microwaves is this going to be a lot
more energy-efficient in a new home so
these are things to think about now
certainly the price is going to be
different but remember the question was
cost not price but cost so that's what
we're going over the other thing is
you're going to have to look at
different maintenance issues is is the
roof how much longer does the roof have
if it's a 20-year shingle roof it's
probably going to be shot in eighteen to
twenty years certainly if you're in
Florida so if you buy a home that's ten
years old if you're going to be in the
home eight to ten years you're probably
replacing the roof what about the air
hand or has it been replaced what about
the hot water heater um has it been
replaced the other thing you're gonna
want to look at is the is the day the
nests of a home certainly if you have a
brand new home you're gonna have the
most up-to-date Florrie in the most
up-to-date cabinetry countertops
fixtures etc so you have to look at all
this I know my wife and I are looking at
homes right now and she keeps on sending
me these listings and I'm looking
through them like okay well it has
thirty six inch cabinets and might not
be the case where you're at but in Tampa
that's like the kiss of death you know
one thirty six inch cabinets it just
says cheap you want 42 inch cabinets the
nicer the better the kitchen is a very
very important part of the home so
there's certain things that I look at
with how long we're gonna be in the home
I know when I buy my next home I'm going
to be in the home at least probably 10
years so I need to think okay what's the
best for me and my family long-term not
just right now but long-term what's
going to be hoove me and a lot of it
could depend on the area as well if
you're in an area where maybe they're
not building new homes maybe you're
going to be more on the pre hometown but
this could take effect whether the home
is three years old or again if it's 15
years old you need to think about all
these things you need to look at the big
picture don't just look this is what the
square footage is this is the year build
this is
many bedrooms and bathrooms and garage
spaces it has and this is what it costs
you know price-wise it's the total cost
you have to look at everything so start
off with how long are you gonna live in
the home where is the home located and
then look at the whole picture and
determine what's best for you know
hopefully you have a realistic really
good real estate agent they could walk
you through all this and give you an
idea of what you need to be looking for
it so I hope this video helped you if if
you liked it give me a thumbs up share
it on your social media I would
appreciate that if you have any
questions at all if you're in the Tampa
Bay area I'd love to work with you if
you're in another area and you don't
know a real estate agent just reach out
to me I'd be more than happy to hook you
up whether you're looking for a
pre-owned home or a new home and I even
have some videos up here so check out
the different videos find in a real
estate agent how to choose a real estate
agent and some other videos for
first-time homebuyers and home buyers
who've bought maybe even five or ten
homes have a wonderful day best of luck
to you
you