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Sunday, January 15, 2017

Buying Your Florida Home: There are real reasons for price differences.

"The house down the road is bigger and priced lower.  Why is your house so much higher?"  That was the question I was asked yesterday by a person who stopped by an open house I was conducting.  First of all, the house was not down the road but in a different development.

My response was simple.... two cars parked in the same auto dealership parking lot are not automatically priced the same either.

When it comes to buying a house most buyers ultimately narrow their search down to perhaps a couple of houses, maybe three if inventory is available.  

And most often the main comparison criteria becomes price.  But there are reasons prices can be different.  When comparing properties consider the differences such as.....
  • Location.  Is one in a more desirable location? Could be the busy street, the nearby properties, proximity to community resources.
  • Condition.  This is one of the primary reasons similar properties are priced differently.  One house with a two year old roof is likely priced more than a home with a fifteen year old roof.  How old is the HVAC system?  Has the kitchen been updated withing past few years?  Does one have a trussed roof screened porch while another has an aluminum screen enclosure?  Flooring and paint may not be expensive updates but if one has it and the other doesn't then the pries will be different. 
  • Age of construction.  Homes in the same neighborhood may be ten or more years different in age.  That is the case if one is looking in the Viera area east of I-95 and west of I-95 in Brevard County, Florida.  Also building codes have been updated over the years so more recent construction may be considered safer, have lower insurance costs and be more desirable.    
  • Builder.  In our area there are subdivisions where the homes are very similar with very little upgrades (cookie cutter homes).  Then there are neighborhoods where the homes are semi custom or even custom built.  Design changes and upgrades do make a difference.  This can be seen in some of the homes in the nearby Heritage Isle 55+ community.  Some sections were built by other builders aside from the primary builder-developer Lennar Builders. 
  • Motivation.  One of the greatest influencers of home price is a seller's motivation.  In the end the market sells the price.  That means the buyer.

The key take away for buyers is this.... When your Brevard County, Florida home search has been narrowed down to a couple or three homes take a real look at the differences

If prices are close then really consider the differences and make sure you are comparing apples to apples.  Because two cars on the car lot are priced differently for a reason.

Ready to buy a home in Viera, Florida?  Call or text me at 321-693-3850.

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