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Saturday, November 15, 2008

What is wrong with an old car?

I was noticing yesterday that even in the "nice area" of Suntree and Viera, Florida, lots of folks drive older cars. I was not alone!

I have always been the kind of guy that bought a vehicle and kept it forever. OK, maybe not forever but at least 10 years! This got me to thinking about residential resales. People buy "used" cars so what is wrong with "used houses?"

The answer is there is absolutely nothing wrong with buying a resale residential property. One of the big differences between a new house purchase and a new car purchase is the depreciation issue. You don't lose 10-20% of the house value when you take possesion as opposed to cars that have been sold once!

In both situations, whether buying a used car or home, inspections are critical. A good mechanic can give you a reasonable assessment of a vehicles condition in just a couple of hours. A good home inspector can do the same for your house. Get the inspection prior to purchase so you know the condition at the time of purchase. Unfortunately no inspector or mechanic can tell you the future....

If you are considering purchasing a new or used home in Viera, Rockledge or Suntree Florida, give me a call. If you are considering other areas, please give me a call. I have colleagues who specialize in the beaches, Palm Bay and any place in Brevard County Florida.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

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