RYE, N.Y. -- One of the more obvious changes in Rye real estate over the past few years has been the increase in new construction properties, driven by consumer demand. But buyers may be missing the mark by not giving equal opportunity to long standing properties and here are a few reasons why:
- Property : Some of the existing homes are situated on the most beautiful pieces of property! It is cost effective for a developer to build to the maximum square footage allowed on the lot size. Hence, you are less likely to find a generous backyard for a pool, swing set, or even simply privacy.
- Location: Many existing homes are in premier neighborhoods, be it in close proximity to the water or tucked away on a quiet cul-de-sac. Ultimately, location may factor into how happy your are with your new purchase more than the bells and whistles you may get with a new house.
- Ability to Customize: Speaking of the bells and whistles, there is a good chance you can add many of these features to the home yourself and choose the finishes that speak to you.
- Negotiability: In some cases, the homeowner may have purchased their home a long time ago and have a fair amount of profit built in ... or may be anxious to move on to the next chapter of their lives. So. they may be willing to negotiate more than the seller of a new construction property. This is not always the case, however. The seller always wants to get the most out of their asset, and may be able to comfortably wait it out.
By casting a wider net, you will have more options to choose from! Believe me, there are many things to love about new construction, and I will explore that in my next article. The best advice is to have an open mind and view as many homes as you can in your price range to streamline your own personal "wish list". You may end up choosing something completely different than you originally expected. I've seen it happen many times!
Judy Croughan is a real estate agent serving Rye and neighboring communities for Julia B. Fee Sotheby's International Realty. Contact her at firstname.lastname@example.org or at 914-262-5323.