2007-09-29 02:12:39 · 3 answers · asked by chittychittybangbang 1 in Business & Finance ➔ Renting & Real Estate
If I am asked to give a market value of a home and the home is in close proximity to where their builder is still building very similar home, then the lived in home is worth less than the brand new home.
They both may have gone up in price, but the existing home will not have gone up as much unless the owner has done a lot of extras to increase its value.
A brand new home is an opportunity to pick your own style and colors, to make hundreds of choices and have a warranty on everything. No dog (or baby) has peed on the carpet.
Now if your house is in a better school area or something there would be an advantage but if it is exactly the same except one is two months old and one is brand new, the new one is worth more.
If I am going to market your home I am going to try and find something unique about your home or location to help us offset that. I am going to encourage you to stage the home as great as possible to minimize the fact it is not brand new.
The dollar difference depends on how we handle those things. Maybe no real difference, but probably at least a few thousand. SO if the builder is still building in your neighborhood and he has not raised prices then you had better not try and sell.
2007-09-29 02:42:45 · answer #1 · answered by glenn 7 · 0⤊ 0⤋
It doesn't. Why do you think that? It's not like buying a car and driving it off the lot. If anything you probably had a miminal amount of appreciation.
2007-09-29 02:20:43 · answer #2 · answered by Alterfemego 7 · 0⤊ 0⤋
It doesn't - it's not like a car that depreciates. Housing values go up and down.
2007-09-29 02:48:32 · answer #3 · answered by Judy 7 · 0⤊ 0⤋