In today’s Market in Texas there are homes being built at an incredible rate. Buyers are wanting bigger and better almost every time. Along with being new most builders are giving large discounts to sell their homes, as well as paying closing cost and down payments making it where the buyer is hardly left paying a thing. One of the best things about a New home is that most come with a 1 year bumper to bumper warranty. That means that if anything at all needs to be fixed in that home, from the kitchen faucet, to a plumbing problem. It will and can be fixed at no cost to you. You simply just call the warranty company, give them your warranty number, and schedule someone to come and fix the problem. The other thing that some home buyers are looking for is more structure in a neighborhood, which is generally manned by a HOA. HOA stands for Homeowners association. Some of them can be strict or as lenient as the homeowners want them to be. The homeowners in the subdivision actually have a vote as to what they will and will not allow where they choose to live. Another bonus of being in a new development is that you usually will have the latest and greatest of all the designs. On the other side there are some things that can be the downfall of getting a New home. One of them can be that you are in a new development, and bonds may have been taken out to build roads, and provide utilities. This means that the people that live in that area will have a higher tax rate until some of those things have been paid for. The other downfall is that most of the time you will have the highest foreclosure rate in the areas that will usually occur in a 3-5 year period. The spin off of this that if you need to move between this times your home may lose value during this time. What homes have sold for in an area will determine the value of those sold at a over the next 6 months. What can be even more of a problem is if the builder is still developing you may have to wait to sell. So just keep these helpful hints in mind when you are looking at buying. Now let’s have a look at Resale homes. One of the best things about Resale homes is that the make-up of the subdivisions has already been established. You can drive down the street and see pride of ownership at it’s best. Neighbors who have lived in this community and they have taken very good care of their neighborhood. Another good thing about a Resale home is that you can sometimes enjoy having a larger lot size, and mature landscaping. The best thing about a Resale home is that you will not have to compete with a builder if you should decide to sell, and the neighborhood has sometimes past the point of growing pains. There are only a couple of things that may not appeal to those when thinking of a resale home and that is that you may need to update the home. The other thing is that you may not have a homeowner’s association anymore. Not a very big price to pay at all, and it can be well worth it whether you decide a New or Resale home is right for you and your family.