So you’ve decided to move to the Dripping Springs area, but don’t know what kind of home you’d like to buy…
Ever wonder if it would be better to buy resale or a new construction home? I wanted to share the pros and cons of both so that you can make the best decision for your family!
There are so many new subdivisions popping up in Dripping Springs, Texas right now…Double L Ranch (Anarene), Heritage, Cannon Ranch, Parten, Skyridge, Esperanza, Arrowhead Ranch, Big Sky, Bunker Ranch, Caliterra, Headwaters, Belterra and more are either still building new construction homes or are about to begin. It will almost double the amount of rooftops in Dripping Springs when they are all finished!
Feel overwhelmed with where to begin? Here area few things to consider when considering each…
Resale homes benefits
1. The neighborhood is established and there won’t be any negative impact from construction crews coming in and out of the neighborhood every day. Ever get a flat tire from roofing nails that were left in the road or have construction garbage all over your lawn from the constant movement of materials and crews? I have! When you buy a resale home you normally get more mature landscaping and trees and a well established neighborhood without the noise and workers bumbling about for months or years.
2. You could have a deeper knit neighborhood because many of the residents will have lived there for many years and can be a resource to you for the area. When we first moved into our new neighborhood we met so many of the neighbors who had been here for years and they introduced us to everyone and invited us to all of the block parties and events. We felt right at home instead of being in a new construction neighborhood and waiting for the homes around us to be built and filled with new neighbors.
3. Sometimes the older, more established neighborhoods have lower tax rates. If there was ever a MUD tax to help pay for the infrastructure of the neighborhood then it will most likely have been paid down significantly and will be more affordable for those expensive property taxes! Newer neighborhoods, depending on where they are (Headwaters and Caliterra for example), will have higher tax rates to pay for the water and sewer services they had to develop when starting the neighborhood. It may take a decade or so before those tax rates come down after that massive bill is paid down.
4. Although you won’t be able to customize the home without further renovations, resale homes can have charm and unique features from years gone by that new construction can’t offer. Do you love a screened in porch, laundry chutes or telephone nooks? You won’t find these features in the 2022 new construction home plans.
New construction home benefits:
1. You know that the home will be in mint condition and will have great warranties in case anything breaks in the first year. Do you love being the first one to break in the house? Not having to scrub anyone else’s cabinet smudges or hire someone to deep clean the previous owner’s mess? This is such a benefit for purchasing a new construction home- it’s brand new!
2. You can choose your own finishes and customize the home how you like it. Most home builders will give you an incentive for upgrades in the design center and you can choose as many things as you like to customize the home. Although this isn’t the case with spec homes, most home builders will allow it, you’ll just need to pick a lot and start the build process from scratch. Just don’t go overboard on the design center or you may not get that money back when you sale the home in the future.
3. There are many incentives when working with large new construction builders. They have partnerships with lenders who incentivize you to use them and right now there are many who are willing to buy down the high interest rate for you- which normal mortgage brokers have a hard time competing with.
4. You can negotiate the price of the home to get a deeper discount. Because you are working with a large corporation and not a single owner, they have more wiggle room to negotiate on the price of their homes. Lately new home builders are taking deep discounts off of the price of the home to offload their inventory. Contact me to find out which ones have the best deals! Realtors will know the market more in depth and can know how far to expect to negotiate with new home salespersons.
5. New construction homes are usually more energy efficient than older resale homes and can save you extra money on your energy bills.
Want to have a conversation to see which one is right for you? Just reach out to me and we can find out which one would be the perfect fit for you! 512-569-8480 or laurenclark@magnoliarealty.com
