| Many people in the lower mainland or Greater | | | | property could be more expensive then a new home |
| Vancouver area prefer to buy a resale of a house | | | | depending on the location of the home in the Fraser |
| for either personal or investment use. In any | | | | Valley. Most homes in Vancouver, Richmond, White |
| educated decision there are advantages and | | | | rock and Surrey are more expensive then Langley, |
| disadvantages to this decision. Here are some general | | | | Abbotsford, Mission, Chilliwack or Aldergrove. |
| guidelines. | | | | 4. Older homes will often have an un-attractive or |
| Top 10 Advantages | | | | functional design. Rooms may be smaller of the |
| 1. Generally the sale of a used home is less | | | | layout is a poor setup. You can find low basement |
| expensive. | | | | ceilings that make the area less usable and your |
| 2. A resale house has a lived in feeling that can | | | | comfort level / standard of living depreciates. |
| sometimes be cozy. | | | | 5. The hot water tank, roof, air conditioner, fridge, |
| 3. Perhaps this homes architectural style is unique and | | | | stove and other amenities may be out dated. |
| not often used anymore in newer designs. | | | | 6. A new home will look modern, fresh and smells |
| 4. As time goes on, you can see whether or not | | | | NEW! |
| problems will occur. They will most often occur within | | | | 7. Market evaluation of the newer house is easer |
| the first 5 years of home ownership. A competent | | | | because of similar comparable properties built in the |
| and professional building inspector in the Fraser Valley | | | | area. |
| can discern if there are nay problems in the houses | | | | 8. Many new home builders are registered with the |
| design or construction. You can find building | | | | New Home Warranty program in their Fraser Valley |
| inspectors that work out of Vancouver, Richmond, | | | | area's. |
| Surrey, White Rock, Langley, Burnaby, Maple Ridge, | | | | 9. As the fist one in the house, you have the |
| Langley, Abbotsford, Mission and Chilliwack. | | | | advantage of being able to personalize the house to |
| 5. The landscaping of a re-sale is often mature and | | | | meet your own family's needs rather then a |
| looks better then a newer home. | | | | remodeling job. |
| 6. Your neighborhood will be established and has | | | | 10. When buying a new home your home builder will |
| developed it's own "character". | | | | offer you a design scheme which outlines the kinds |
| 7. Community services has been established over the | | | | of kitchen cabinets, carpet and color's as an option. |
| years. | | | | You will find these mostly in new condominium |
| 8. Previous owners or owner of the home may have | | | | developments. |
| installed upgrades to the home that you'd normally | | | | However, if the contractor has no previous history in |
| not receive if it were a newer home purchase. | | | | the industry of building a new home in the Fraser |
| 9. You will not have to pay GST on the purchase of | | | | Valley or Lower Mainland area be very cautious. The |
| a resale of your home in British Columbia! | | | | contractor could have been operating under a |
| 10. The area should have developed enough to | | | | previous company name but went under a different |
| include amenities surrounding the area to make your | | | | company name. Consider the possibility that the |
| shopping easy and accommodating. | | | | contractor is a first timer and learning the tricks of |
| Top 10 Disadvantages | | | | the trade at your expense. Do a little bit of research |
| 1. An older home may not have been built to current | | | | with your local Greater Vancouver Realtor to find out |
| building standards and may not meet today's electrical | | | | the background of your contractor. When buying a |
| and insulation codes. Keep your eyes out for | | | | new home construction, make sure your deposits are |
| formaldehyde foam insulation as it is not to be in any | | | | held in a trust account and not given to the |
| homes according to BC's new health codes. | | | | developer as a stakeholder. There is that risk that |
| 2. Defects in the house construction are not visible or | | | | the money is going directly to the builder and not |
| identified unless a through inspection is done by a | | | | being held in a trust account by a lawyer or a real |
| building inspector. A buyer of a new home is covered | | | | estate company. Ask your realtor about this and |
| by the a warranty legislated by the government. | | | | make sure they are covering all their bases. |
| 3. If you buy a resale in a high density area, the | | | | |