I Live in Phoenix, Arizona and I am in the process of buying a house. I have seen a house which I really like and it is built in 1988 but the house is in a very good shape. Do you think that the age of the house is important and I should be looking for newer house?
2006-09-11 18:02:46 · 9 answers · asked by ELINA 1 in Business & Finance ➔ Renting & Real Estate
the older houses need to be brought up to code. Some houses still have asbestos in them, maybe lead paint or some other hazards like being built near a dump or a nuclear plant, or termite problems (make sure they haven't gotten to the main beams). Figure out what problems the old house has and the cost to update it (and also what's around it that needs updating like the street and lighting and new water and sewer lines to the house), and then figure the cost of a new home, the higher mortgage and interest, taxes, double insurance, etc. and then determine which you want.
Then think about why people always tell you (when talking about cars) that instead of buying a new car it's always better to get one that's broken in, say by a year or two.
When you buy a house you need to make sure you get the 30 year loan (have enough of a downpayment) rather than the balloon payment loan...the balloon will hurt you.
Other things to look out for with an older home is the neighbors...what kind of people live there....are there lots of kids...druggies....a hospital (that you'll be hearing the siren often), or near a stadium that brings in big bands.
2006-09-11 18:14:51 · answer #1 · answered by sophieb 7 · 1⤊ 0⤋
New houses sell at a premium because of their popularity. Houses older than 1970 need a thorough housing inspection because of issue of wiring, plumbing, and the like. 1988 should be fine, but be sure to have it inspected. It is the buyer's responsibility and costs somewhere between 350 and up. Your realtor should have one or two recommendations. A very good realtor will go through the inspection with the inspector - you do not. The age of the house may cause the inspector to be skittish about guaranteeing a 5 year life span on the roof - standard.
Enjoy.
2006-09-12 01:14:11 · answer #2 · answered by Joe Cool 6 · 0⤊ 0⤋
You can get a building inspector to look at the house (for a fee) and he will be able to tell you if there is anything wrong with the house. The age of the house is not as important as the condition of the house, such as cracks in the foundation, if the roof leaks, termite damage, etc.
2006-09-12 01:11:50 · answer #3 · answered by 420Linda 4 · 0⤊ 0⤋
The age itself is not important - the quality of the construction IS.
In general - if possible, avoid houses built in the middle or late part of a housing boom where they are throwing up houses as fast as they can and are hiring anyone who can figure out the right end of a hammer 2 out of 3 times....
2006-09-12 01:13:27 · answer #4 · answered by Art_333 2 · 0⤊ 0⤋
newer houses are built crapy 1980's is a good time or late 1970's,but anything esle is risk as far as wear and tear. If you need any other information call me at (909)390-9171.
2006-09-12 15:21:40 · answer #5 · answered by business creature 2 · 0⤊ 0⤋
If the house is in good condition (as you'll determine by inspections), go for it. 18 years isn't that old for a house--unless the other one has more technological bells and whistles that attract you.
My house is 100 years old.
2006-09-12 01:08:57 · answer #6 · answered by Anonymous · 0⤊ 0⤋
You best bet would be to first get a professional home inspection done then an appraisal and compare prices before purchasing.
2006-09-15 22:09:01 · answer #7 · answered by hosten2003 1 · 0⤊ 0⤋
i always think that the older house is built better, but there are some new homes that are nice but i like the older ones better, they give it better structure, but it also would cost more to repair
if it needs it
2006-09-12 01:13:01 · answer #8 · answered by jene 1 · 0⤊ 0⤋
MAYBE IT DEPENDS ON WHAT TYPE OF STURE
2006-09-15 23:00:44 · answer #9 · answered by precious73@verizon.net 2 · 0⤊ 0⤋