Advice: New construction (Sugar Hill) or resale in better location (suwanee) (Duluth: real estate, renting)

[genise308]

Hi everyone,

I've been lurking on these forums for years and want to thank everyone for their great information. This forum helped me make the decision to move my family from super expensive MD (outside DC) to the Suwanee area.

We are currently renting and I am READY to be back in a home.

I am really struggling with the decision to go with new contruction in sugar hill (primrose creek) or stay in Suwanee (morningview area) and go with a 15 year old home. I'm sure there will be some middle ground resales that come on the market (a little newer than 15 yrs old and near morning view), but I'm just not sure.

I work at the very top of atlanta, but I am only in the office 4x/month so the commute isn't a big factor. We are also looking at private schools and Sugar Hill and Duluth, so we have many options.

Concerns about new construction in sugar hill: I hate Buford Dr. I know they are expanding it, but still I always see traffic and I'm not convinced another lane will help. Also I have gotten used to access to fresh market and whole foods stores near suwanee and duluth and Sugar Hill doesn't have much in that area it seems. (I know the mall of GA is "close" but it's congested and I wouldn't want to use that area for daily shopping).

Budget is under 300K and we want a basement (but under 275K is ideal-- 250K even better). That's also an issue with the new construction-- why would I pay +30K for an unfinished basements and then put another 20-25K to finish it for only a 15-20K differential against a slab basement house for resale?

So bottom line questions:
Is sugar hill a decent area? is it up and coming and would the resale for a new construction home be good with 5-10 years? (thought-- move to a place that doesn't have much for a cheaper price, so when it builds up, I can reap the benefits on a resale) or am I better staying in suwanee, getting the older home and renovating over time (but I'll get less since Suwanee is already built up and pricey)?
Also, any advice on negotiating free/cheaper basements with builders? I do have a realtor

thanks,
Genise

[chimama1]

My *general* thinking on new construction in a less built up area: when it comes time to sell, why would anyone who is drawn to the area want your 5 yr old used house, when they can get a brand new house for the same price? Whereas, when you buy an older home in a more "desirable" area, and do some upgrades to it, there's always going to be someone who wants to live there...because of all the same amenities that make it desirable to you.

However, I am not familiar with Sugar Hill or Suwanee. It's possible those markets have different variables. But this is issue I see over and over with new construction in the "exurbs" and townhouses in areas where there is still some open space--you go to sell, and there's simply too much new construction to compete with.

[LovelySummer]

I have no idea about the areas but I do know the first rule if real estate is location, location, location.

[OhioNative]

Morningview has remained stable and nice for almost 20 years. Hard to go wrong there.

[Clayton white guy]

A fifteen year old home is hardly "old" and if the community is stable and desirable, why try the untested just to have something "new". Many sought after intown neighborhoods were built in the 1920's or older. Even desirable northwest Dekalb addresses (the Northlake/ Lakeside areas) are basically beautify renovated ranches, split-levels, and colonials from the 1950's. Staying in your comfort zone that other posters have pointed out has stayed desirable for decades sounds like a safer bet than fleeing to the exurbs waiting to ride "the next wave" that may or may not come.