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Old 04-04-2014, 08:33 PM
 
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We are moving to Chandler in a couple months. I am torn between buying a new build or an existing home. I realize if we buy a new build that we will have to rent for a while. I'm not crazy about moving twice but that is not the deciding factor. I'm wondering which is wiser. Will it be a good investment buying an older home when/if we decide to re-sell in 10 or 15 years? I found some of the older homes have so much character. However, I imagine a new home would re-sell better. The other thing I think about is a new home would need landscaping right off the bat. However, we would probably end up re-landscaping an existing home eventually as I've not seen anything I'm in love with out there. We are taking a trip out there this weekend to look at both options. Any thoughts?
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Old 04-04-2014, 08:58 PM
 
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Resale homes in Chandler likely won't have much "character" - it's not like there's a lot of old Victorian or craftsman style homes here. However they are likely to be in a better location - closer to things and already have window coverings, appliances, landscaping etc. Although as you say there will be things you change such as landscaping and probably carpet and paint at a minimum.

In new construction you are paying a premium to pick your own finishes and for a 2 year warranty. A significant premium. I'm astonished to see 2500 sf new tract homes going for well over $400k without a pool and landscaping, etc and these are in the far southeast part of Chandler. You can argue a new home will also give you more energy efficiency and modern finishes for better resale I guess.

Bottom line, if you are in it for the long haul, I'd consider a new build, just don't go crazy with the options. Things like bathroom vanities can be redone later easily. if this is a short term move, I'd go resale.
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Old 04-05-2014, 06:16 AM
 
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I suppose " character" was the wrong wording. I like some of the older homes with courtyards. And more storage. And nice touches with moldings and upgrades.
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Old 04-05-2014, 08:28 AM
 
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I think you're find newer homes have the courtyards and way more storage.
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Old 04-05-2014, 09:17 AM
 
Location: Arizona
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Location is the main issue since Chandler is very big. You can always remodel an older home.
Something else to keep in mind is that many older homes have larger lots which can be very expensive with new builds.
I live near Dobson and Chandler Blvd and am 5 minutes from the 202,101,fashion Square Mall and Downtown Chandler and I have a 1/4 acre lot. Unless you get lucky with an infill parcel you will not find any new build that can offer this type of location.
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Old 04-05-2014, 10:45 AM
 
Location: Chandler, AZ
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Agreed...my neighborhood is only 16 years old and still most of the lots are postage stamps. We were lucky enough to purchase one on 1/3 of an acre so that we are not right on top of our neighbors. When you are talking "new build" where are you looking? There are only a few neighborhoods that I know of being built right now...all of which will be at least the high 300s or more.

We were considering a new build but you have to figure...purchase price of the house, lot premium and backyard landscaping. Then you go to the Design Center and spend another $50k on flooring, counter tops, appliances, etc. Wait 3 months for the home to be built...and then if you want a pool figure another $40k on top of that...or...figure out your price point and find a decent resale home and sink the money you WOULD have spent on the upgrades you wanted and make the resale home the way you want it. Home Warranties are only ~$600 per year so you can still have a warranty.
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Old 04-05-2014, 12:46 PM
 
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That's not quite a fair comparison...why do you have to spend $50k in upgrades at the Design Center? And if so, then put the same $50k in upgrades to the resale home too. Chances that you will find a home with the exact finishes/flooring/etc are slim. Same with the landscaping...yes it's nice that it's done, but what if you didn't want the type of trees they decided to put in or wanted grass and they don't have any and vice versa? New homes also have a lot of features that you won't find in older homes...9-10' ceiling, 8' doors, large walk in pantries, etc...things that you cant do to a resale home even if you wanted to.

We're on our second home, a new build, and our first was a resale. I would go new build all over again if I were in the position.
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Old 04-05-2014, 02:37 PM
 
Location: Victory Mansions, Airstrip One
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I don't think new vs. used is the biggest issue for resale value. More important things are location, school district, sensible floorplan, big garage, etc. And then there are things to avoid, like being too close to busy roads, power lines, farms with animals (smell), etc. Really just a lot of common sense things but it can be hard to keep them all in mind, so make a list and fill it out for every house you visit.

In Arizona you also want to consider which direction the back of the house faces. Most people prefer the back patio to be either on the north or the south. These directions tend to minimize the amount of sunlight coming in through windows in the summer.

Don't forget that used houses can soak up a lot of money beyond just the purchase price. If it's not obvious, be sure to ask the ages of the A/C unit(s), roof, water heater, pool surfacing, exterior paint, etc.

Then there are all of the interior finishes, which become "outdated" after some time. If you buy a house that's 10 years old and then live in it for 10-15 years, this might start to become an issue for resale, with buyers expecting that at least some of the kitchen, bathrooms, lighting, etc, be updated.

hikernut
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Old 04-05-2014, 04:51 PM
 
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Thanks to all of you for your input. It is very much appreciated. I really like Layton Lakes. Although, i think that is in Gilbert. My son will be going to Basha High School (Chandler School District), so somewhere in that area but not too close to Basha. I really don't know where we will be looking until we get there at the end of this week. We will look at existing homes Thursday and Friday and then our Realtor will take us to some new build subdivisions on Saturday.
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Old 04-05-2014, 07:27 PM
 
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The S/Western portion of Layton Lakes, where Haley Elementary is located is in Chandler. I saw some of the final plats (city of Chandler website) and that portion has some bigger lots. That's actually in the Perry HS boundaries but it's open enrollment. If you continue South down Lindsay rd from Layton lakes 1 mile you'll see Maracay Homes and Ryland Homes. A mile south of that Ashton Woods and Toll Brothers, then Taylor Morrison a mile west of there on Chandler Heights/Gilbert Rd.
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