LI new developments see early buyers trading up

In new construction Long Island communities, early buyers are often trading-up their homes for larger or newer ones before the development even finishes selling, the New York Times reported.

In a reversal of the pre-recession trend, wherein buyers often “flipped” new units before a community even sold out, now buyers have more time to see newer units built around them — and the grass is often greener.

Carol Uffer, a retiree in Westbury, N.Y., recently traded her $645,000 duplex at the Meadowbrook Pointe development for a $850,000 two-bedroom that was larger and on one level. The same sales office handles listings and sales for the whole community, so the process was made simple.

“I was not thinking about moving,” Uffer said, however, “the new unit is beautiful and my needs have changed.” [NYT]