By Diego Bravo - Realtor® on April 21/2023

In some areas of the United States, there are many houses under construction currently, as the builders of all sizes are trying to catch up with the lack of residential properties nationwide reported by government authorities in 2021. A good example of this is Ocala, Florida, which has been showcased in different media as one of the US fastest growing cities. Fortunately, this growth in Ocala is well planned, for which it is not ‘stealing’ the unique city-country mix lifestyle that most residents of this area enjoy and prefer, including the natural preserves, over 1,200 horse farms and many cattle farms, rivers, lakes, state parks, golf courses, and abundance of places to enjoy the outdoors in many ways during the entire year.

Now, let’s see the pros of buying a newly built house or a house in the construction process:

·   All is new, looks new, even smells like new. From this, four parts of the house have a remarkable importance of being new: the roof (its structure and external covering materials), HVAC system, electric system, and hydraulic system. A clear advantage is that these parts have the full usable lifespan ahead by manufacturer specifications. In addition to the homebuyer having greater peace of mind by not worrying about a possible sudden failure of these parts, for being brand new makes it easier to obtain homeowners insurance, sometimes cheaper than on a used house of the same size. 

·   The local authorities (from the city and/or county) have inspected the property on various occasions during the construction process until the Certificate of Occupation is finally released. Therefore, it is easy to assume that everything in the house is done according to the current building codes.

·    A new house is often built with the latest trends in design: architecture, layout, and materials.

·    The newly built house often comes with warranties, including structural, roof, HVAC, electric and                       hydraulic systems, which coverage and expiration date vary. If the house has a water well and/or a                   septic tank these are brand new, as well.

 ·   In case the buyers want to resell the house a few years later, its marketability is often better than most             older houses.

 ·    A real estate agent that has good negotiation skills could help buyers find the greatest deals in the new            construction market in the area in terms of location, construction quality, and price. Moreover, an agent            that knows the builders in the area may be able to get some concessions from them to the buyers,                    including lower interest rates (when buying with a mortgage loan) and/or help for closing costs.

At this point you may be thinking… With all these advantages of buying a newly built house (or still being built), why do some buyers choose to buy a used house? Actually, there are various reasons:

·   If buyers want a house in a specific neighborhood where there is no new construction. For example, in a prestigious gated subdivision (residential, equestrian, aviation, or golf), in a 55+ subdivision they like and/or their relatives or friends reside at, or that is close to a school, hospital, park or church they want.

·    When buyers “fall in love” with a used property, which they decide to buy without further consideration.

·    If buyers want a custom home that, although is not new, it would take too long to build one alike or the             cost to build it would be excessive. Some special features may include a swimming pool, garage for                 three or more vehicles, high ceilings, exceptional gardens, tennis or pickle-ball court. It should be                     noted that homes built with top-quality materials and above-average construction and design                             specifications often maintain their condition for a long time when properly maintained. Actually, this                   type of house is highly desired by many buyers.

·   When buyers are not willing to wait until a house under construction is finished. For example, because              they are selling their home at the same time they are buying and need to move right away from one                  house to the other after both closings occur.

·   When the buyers cannot afford to buy one of the newly built houses in the area at the moment. 

·   When buyers do not like the architecture, layout, size, and/or the materials of the newly built houses in the area, but a used house does meet their requirements.

For the above, to make a wiser decision whether to buy a new or a used home, contact a knowledgeable experienced real estate agent in your area of interest and share with him/her what you want to have in your next home. Such agent could represent you during the entire process: finding the best options that fit your needs; scheduling the showings; helping you with writing and sending offers and with negotiations; recommending lenders, inspectors, surveyors, and other professionals involved in the transaction; and guiding you through all the steps to closing.

Now, are you interested in buying property in Ocala or other areas in Florida? Maybe new construction, a used house, a horse farm, income-generating properties, or land? Let’s talk; contact us at (352) 266-2782 by text, WhatsApp, or phone call.