The Benefits of Buying New Tract Homes Vs Pre-Owned Homes

Unfortunately, one of the inherent problems of buying pre-owned homes is not knowing exactly what you’re buying. No matter how good the inspector was that you hired to inspect the home before you bought it as an investment, the chances of a costly defect is always an ominous occurrence waiting to happen.

However, when completing the purchase of a new tract home, even though the home may have a defect or two, the defect is correctable most of the time, if not all the time. This is accomplished through the built-in home warranty that comes with a home upon its purchase. More often than not, national, regional, and local builders have some type of warranty that covers even the smallest of defects, such as cracked tile, masonry work, squeaky floor boards, and caulking issues, or major issues, such as pipe leaks, roof problems, foundation cracks, and other structural issues. Structural issues may include a ten-year warranty to cover costs related to the defect.

Generally, warranties are defined as standard and structural, as most major homebuilders provide these warranties, such as KB Homes, Centex, and Pulte Homes. And yet, despite the coverage that most warranties will provide for a pre-owned or resell home, such as the warranty you can buy for $350 to $450 from Fidelity or Old Republic, nothing beats the comfort of acquiring a new home that has that bumper-to-bumper warranty coverage and still has that new car smell to it. Other negatives of pre-owned homes include the following: mold issues, termite infestation, hard to detect structural damage, and cracked foundation or slabs. It would be very rare for the latter issues to arise in a brand new tract home. These are only a few of the problems that may occur with pre-owned homes since there may be many more.

One such example of the beauty of newness and the benefit of having a home warranty provided by the builder was a new tract home I bought from Ryland Homes. This particular home had been the third home I had bought from Ryland; the second home incidentally was one door down, which I had bought at the same time. Long story short, I had just closed the home the day before, went out the next day to pick up the keys from the sales office in Moreno Valley, and proceeded to go to the brand new home. Upon proceeding through the front door, I was hit with a foul smell that was reminiscent of stagnant water and light sewage. Walking farther into the family room and then into the living room, I noticed two things that gave me immediate alarm. First, there was a leak coming from the first floor ceiling as I looked up, straight onto the carpet below. Second, I determined if there was a leak coming from the ceiling, that meant there was damage on the second floor, and if that was the case, it was likely from a burst pipe emanating from the master bathroom.

Read Full Article

Both comments and pings are currently closed.

Comments are closed.