New Construction vs. Existing Home?

by Cristina Callegari Kanellopoulos

New houses offer many advantages over existing homes. They are designed to accommodate the wishes and needs of today's homeowners as opposed to features that were popular many years ago. They will include the most requested features, such as Central Air Conditioning, Walk-in Closets, Open Living Space, Family Rooms, more Bathrooms and larger Bedrooms, for example. New homes are more energy efficient than older homes, and since everything is new (and usually under warranty), in the short-term there is less of a chance that the home buyers will spend money on costly repairs.

However, the quality and character of higher-end older homes simply cannot be compared to new construction. The craftsmanship, architectural details and materials that were used is superior to that of new/current construction.

Potential home buyers who prefer the idea of a new home, but do not have the time or budget for custom building, can satisfy their needs by purchasing a home built by a developer with a pre-determined design and specifications. Designs and specs are based on the developer's choices (not the buyer's). Depending on the developer the buyer may have some flexibility when selecting finishes, and cabinetry, etc.

In many parts of the country developers build large scale communities, in New York, however, this is extremely rare as there is very little undeveloped land left in the 5 boroughs (NYC, Queens, Brooklyn, Bronx and Nassau). In Queens and Nassau counties, for example, builders will often times buy homes in poor condition, tear them down, and re-build, or remodel and expand an existing home to the point where it is no longer recognizable.

Home buyers should not make the mistake of assuming that new construction is sound construction. You should do your homework, just as you would when buying a previously owned home. Investigate the builder, evaluate the location, get a through inspection, and negotiate for upgrades. Home buyers should feel comfortable with the builder before committing to a purchase. Whether through referrals, or personal research, the reputation of the builder should be checked carefully. A smart home buyer will visit other homes built by the same builder and should interview the homeowners, as durability of construction and homeowner satisfaction are extremely important.

From time to time you will find a group of homes, or a small-scale development in New York. However, they are often built on the developing edge of a neighborhood, so it is warranted to check the future plans for the community. Local zoning and planning departments may have a master development plan for the future development of an area. You should verify the school district and find out the general tax rate of the neighborhood.

It is also important to note that most new homes come with minimal landscaping, and it can cost the homeowner thousands of dollars to landscape. Most new homes also come with a basic level of finishes for carpeting, cabinetry and window treatments - do your research, sometimes it is cheaper to upgrade these features directly with the builder.

If you are considering a new home purchase give me a call today at 917-921-5397!

Top 10 Reasons to Purchase a Home

By Cristina Callegari Kanellopoulos

There are many reasons people purchase homes in New York. Illustrated in the list below, are the top 10 most common reasons people purchase real estate:

1. Marriage. Usually after a couple gets married they begin thinking about buying a home. Some couples desire a fresh start; others just want a bigger space. Sure young couples list security and "wasting money on rent" as reasons why they want to buy a home, but at the core, their primary driving factor is thinking about starting a family and having the space to do that. This leads me to number 2.
2. Having a baby. I think this one is self-explanatory. Babies require space, good school districts, and ideally a back-yard to play in.
3. Shelter. We all have to live somewhere, so why not own where you live.
4. Pets. When you own your own home, you are not bound by the pet restrictions of a landlord, or Co-op/Condo board. So you can have Fido and a Kitty too. Though, you might want to check on your town's regulations about exotic or farm animals before you run out and buy a pet cow or lion for your yard. ;)
5. Taxes. Or, should I say a desire not to pay so much in taxes. Homeownership offers wonderful opportunities for tax deductions. Check with your accountant about your specific tax situation.
6. Security. When you own a home you can make it as secure as you'd like. So go ahead and build your own version of Fort Knox!
7. Wealth building. While investing money in a home is not a guarantee to build wealth in the short term, it is on the other hand, one of the surest investments you can make over the long term. While everything else you might purchase like a car, or clothing depreciates, your home is sure to build wealth for you in time.
8. The American Dream. Yeah, I said it - it is true. Many people want to own a home simply because they were raised to think it is the right thing to do. And, guess what, the people who put this idea of ownership in our heads in the first place, do make a very compelling point (Read the rest of this list!). Home ownership has MANY advantages.
9. Space for Stuff. That's right - people need space to put all the stuff they buy somewhere. And, once you have outgrown your 1 bedroom apartment, unless you are willing to part with that stuff, it is time to think about upgrading.
10. Freedom. In your own home you can walk in your underwear, talk to your cat, watch TV until 5 a.m. and sing in the shower like it is no one's business. That is because, in YOUR HOUSE, it IS no one's business!

Whatever, your reason for wanting to buy a home, I can help you find the home that is right for you and your needs! Call me, Cristina Callegari Kanellopoulos, today at 917-921-5397.

Moving Tips

Moving Tips

by Cristina Callegari Kanellopoulos

Everybody hates moving, it does not matter if you have done it once or several times, it is never an easy task. Here is some tips you may find helpful:

1. Notify the post office of your new forwarding address.
2. Cancel subscriptions that would not or cannot be forwarded.
3. Change addresses on your bank profile and checks.
4. Arrange for utilities and telephone at your new location.
5. Plan for needs of children and pets during the move.
6. Plan for sufficient cash during the move.
7. If you are packing and moving yourself, make arrangements with local moving supply dealers and truck rental agencies. If not, make sure you have a quotation all set up in advance.
8. Start the weeding out process for what to keep and what to dump.
9. Pack one room at a time.
10. Keep the weight of your boxes reasonable.
11. Start packing and marking every box according to contents and room it will go in.
12. GO GREEN! Use towels and blankets to wrap fragile items. Save the environment AND Money too!
13. If possible, pack audio-video and computer equipment in their original boxes.
14. Do not pack valuables like jewelery, carry them with you.