Why new houses in Summerlin (new construction) are cheaper then old houses of same size?

Tek_Freek · 03-09-2016, 02:34 PM

Quote:

Originally Posted by Vegas_Cabbie

Because new homes come with absolutely nothing. No appliances, no ceiling fans... most basic things you take for granted in a home, they will charge you extra for when the home is built. That all adds up to a hefty sum.

Also, keep in mind that a new home price is firm. You START at that price and go up with customization &;additions... as opposed to an existing home where there is an ASKING price and you generally offer under that number.

Quote:

Originally Posted by zumaboy

^^^
This. When you tour the beautiful model home in a new development and are handed the price sheet, make sure to ask the realtor host how much the model home would sell for. You'll find it's almost double what is shown on the price sheet. A recent construction (3 - 5 yrs.) used house is almost always a smarter choice.

We looked at new construction in Florida and South Carolina.

Base price on a couple was around $280k.

By the time we added all the things required to actually have a usable home we were over $350k.

lvoc · 03-09-2016, 05:24 PM

The thesis is simply not true. The gap to a new build versus existing real sale is around $100,000 for a 2500 SF home.

One may find all sorts of strange asking prices and even some odd selling prices if you use the tax data base. But if you use the MLS you will find a large gap favoring resales.

If OP wishes to list the tracts in Summerlin I would be glad to gin up a comparison.

Existing home landscaping varies from *****rdly to exceptional. New homes are pretty much all in the deficient end at least in the rear.

Pesnya · 03-10-2016, 10:34 AM

would you mind sharing what new construction site you were looking into

EA · 03-10-2016, 11:45 AM

For some reason, people think real estate is expensive in Australia. I've been looking over there and it's no different from Vegas, which is cheaper than most cities. They have higher wages as well. Their minimum wage is 20ish an hour (don't remember exact amount)
So many houses are 3-400k here with no land at all. At least in Australia you get some land.

ragabnh · 03-10-2016, 12:38 PM

If what you are saying is true, I would buy a new home in a heat beat and take my time and consider my resources to upgrade as desired.

SoHoVe · 03-11-2016, 08:59 AM

Lot size could also be a factor as well.

Its a bit less risky buying into established neighborhood where you can actually meet and greet your neighbors in advance. JMHO

Typically 20 year old homes have been considerably updated and improved in the nicer areas.

I think its great to see resales holding their value. For a very long time there was the mentality that brand new was the only way to go.

I'm quite certain that it depends on the builder but I really haven't been in a new home that I have been at all impressed with lately. Alot of corner cutting going on.