+1 This even includes looking at relatively new "used" homes in the neighborhood you like.
We did look at existing homes. In short, I found nothing that was even remotely like what we had in mind and needed.
A few important notes to keep in mind:
- The South FL area makes no sense when it comes to prices. Everything is overpriced to begin with, and most existing homes we looked at were actually about $30 to $50K HIGHER in price. And none of them were appealing to us. My wife liked a couple, but I hated them. Just plain old FL "shoe-box" type properties. Precisely what I do *not* want. The new construction is a little bit on the "cookie cutter" side, but they are elegant and modern and tasteful. I also do like the 2-story lay-out. In the extreme case of flooding (a possibility in Florida), I can see us moving the important stuff upstairs, if needed.
- In addition to being higher in price, additional work would be required in the case of most existing homes. For example, removing/covering pools we do not need and will never use, new appliances, new impact windows, etc.
- Even those existing homes with brand new impact windows that we looked at will always, in the end, be retro-fits. Impact windows installed from the ground-up are always better. I can not stress the importance of a hurricane-proof home in our area. New homes are supposed to be built up to the latest hurricane code and all come with impact glass throughout. They are also much more energy efficient because of this fact.
- Insurance is about half the cost in a new property, due to the above. About $3K/year for the new construction vs. $7K/year for older homes that are not as hurricane-ready. Huge difference in yearly cost right there. Electric will also be about 30% as much, more than likely.
- The new construction gives me the option to make the home a "smart" home, and comes pre-wired with CAT 6 ethernet throughout the entire property. For the type of job I do and the type of connectivity I need in my home, this is a big plus.
- The garage comes pre-wired for an electric car charger.
- There is a warranty for most items. From 10 years for structural items to 1-year for materials, etc.
- The community is gated. HOA's are $220/month (vs. $650 now for the condo), but this includes a beautiful gym (which is a must for my wife and would cost $60 to $75/month by itself elsewhere), lawn service, a resort type pool (ok, this I could not care less about), and other amenities we can actually benefit from (unlike the beach in our existing condo, which we honestly never use). I am not the type of person who enjoys mowing the lawn (does anybody?), so having somebody do this for us once a week is a plus.
Yes, many folks we asked did mention that defects were found, but in all cases the developer took care of them. I am sure the headaches will be there one way or the other, but I feel that a new construction has more pros than cons in our particular case.