Читать книгу Sell Your Home in Canada - Geraldine Santiago - Страница 22

An older home is generally less expensive than a new home because the older home’s replacement cost — the cost of replacing it with a modern equivalent — is higher. Furthermore, gst does not apply to a resale home unless the house has been renovated substantially. In that case, the tax is applied as if the building were a new house.

An additional advantage of resale homes is that they are usually situated in more established neighbourhoods. This means the landscaping has been done and there may be many trees and foliage. In a settled neighbourhood, you will know who your neighbours are, which can be a selling point for buyers.

The main disadvantage of a resale home is that because it is an older building, maintenance costs will likely be higher than those for a new home. The plumbing and electrical systems may be outdated and may need to be repaired, replaced, or updated. You can engage a professional home inspector to check plumbing and electrical systems and also look for structural problems, such as a leaky basement or roof, and to estimate how much repairs will cost. Older homes that do not need repairs may require some redecoration, renovation, or upgrading

You can either perform repairs, upgrading, and renovation yourself or adjust your price to reflect the condition of the home. If you are using a real estate agent, he or she will be able to determine how to price your home based on the upgrades that need to be done.