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Should I Buy New or Resale?

For most of the Waterloo Region, this is a pretty simple answer.

 

Buying resale seems to be the best overall value. The main factor is that we have seen very little new development occurring in this region. Land costs have increased significantly in the last few years, causing the builders to pass these costs on to the consumer.

 

With new homes, one must consider the added cost of items, which are typically included in a resale home. For example; fenced yard, decks, driveway, central air, heating, window coverings, finished basement, appliances, and other general upgrades that are not included in a basic new-build.

 

The exception is a new-build, which is outside of the hot spots. The advantage of buying a new-build in those areas is that eventually there will be growth and you will be able to realize the appreciation, provided you were able to secure a reasonable purchase price now.

 

If you have any questions about this or about real estate — give me a call and let's have a chat!

 

519-624-5555 or e-mail me at faisal@homeshack.com

 

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Faisal Susiwala
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June 12, 2017
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Faisal's career in real estate began at the early age of 18. He consistently earned a reputation as a top producer from the outset. In 1994, he joined the sales force of RE/MAX Twin City Realty Inc. and has continued to be a top producer there for the past twelve years. Susiwala covers a large sector of the Cambridge and KW market and attributes his success to a strong marketing plan with extensive advertising, state of the art technology, an experienced support team and a loyal clientele base for the past 17 years of being in the real estate business.

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