We rent now, and we want to buy a house. One of us prefers the new-builds and one prefers the older houses, so which house sounds like a better deal? Consider price, investment, area, etc... They will both cost about the same monthly payment, and are similar distance from work, freeways, airport, downtown, etc
New-build house: On outskirts of town where there's lots of new developing, shopping, etc. We qualify for 1% down, interest-only, least out-of-pocket as possible. No hidden structural surprises, which would be defects covered under warranty. Pick colors/carpets/floorplan, design center, etc.
Older house: Closer to central metropolitan area, so it's near other older structures, and some pockets of crime & crummy apartments. We will be lucky to get in with 3% down, and hope to talk seller into paying closing costs. Not "energy efficient" and this is the desert where the AC bills get up to almost $500 in July/August even though it's only 83 degrees in the house during day.
2007-07-31
11:21:23
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4 answers
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asked by
pixysnot
3
in
Renting & Real Estate