2006-10-22 17:46:47 · 6 answers · asked by justsomedumbgirl 3 in Business & Finance ➔ Renting & Real Estate
Do you intend to live in your home for more than 5 years? If you do not, then you would be better off purchasing an existing home that is in a neighborhood that is no longer being constructed and which does not have an enormous amount of construction within close proximity to it. The reason is that newer homes are obviously in newer neighborhoods, so the builder is still there building like a madman and undercutting all the owner-occupants who live there. He's offering crazy incentives that the owner-occupants CANNOT compete with due to a lack of equity in their home. So if you needed to sell within the first few years after purchasing your home, you might come to find that you have a hard time selling your home and may end up selling it for the same price or less than what you paid for it. A for buying an older home, you will come to find that many are in need of major repairs and updating, but there are some older homes out there that are amazingly updated and well cared for. If you decide to purchase an older home, first, contact a real estate agent (if you don't already have one). It costs nothing for you to have a buyer's agent represent you. Secondly, if you find a home that appears to have been well-maintained and wish to submit an offer, after doing so, get a home inspection by a licensed inspector in your area. His/her report will note those items which are in need or repair or which require further investigation by a professional who specializes in such items (like foundation problems, roofing problems, HVAC, electrical, etc.). You will have to pay for an inspection, but this could ultimately prevent you from purchasing a house that has serious latent defects. Oh, and if you decide to purchase a new home, it is still recommended that you contact an agent to represent you! Good luck!
2006-10-22 19:13:07 · answer #1 · answered by Cheeky Realtor 3 · 0⤊ 0⤋
Depends on the house. We live in a house that was built in 1913, and we wouldn't trade it for a new one. Old houses have character, you can add to their charm, and fix up stuff that is dilapidated. Our house is tongue & groove, we can hang anything we want on our walls or from the ceiling without having to support the wall, unlike sheet rock. It is great, we hung a swing in our house for our 3 yr. old, couldn't do that in a new house unless you reinforced it in the ceiling. When we are in the back of our house, you absolutely cannot hear anything up front. Our kids can practice their band instruments and we don't have a problem hearing it through out the house. I'm just partial to old houses I guess.
2006-10-23 00:59:47 · answer #2 · answered by OZzY MoTo 2 · 0⤊ 0⤋
If you buy an old house,look at it after a good hard rain.That will tell you if the yard floods or not.
An old house you don't know if it's been remodeled,some remodeled houses aren't completed.Make sure you do a complete history search on an old house.
A new house would be already be on a good level ground.
2006-10-23 00:56:07 · answer #3 · answered by dragonsaver005 4 · 0⤊ 1⤋
One way to go is to buy a re-finished home. You usually get a great price and a warranty which lasts as long, if not longer, than a new home. Where are you looking to buy?
2006-10-23 00:56:24 · answer #4 · answered by Anonymous · 0⤊ 1⤋
A new house, the old one might be haunted. boo!
2006-10-23 00:54:19 · answer #5 · answered by Jay S 5 · 0⤊ 1⤋
defenitely new one, i don't think anyone wants a really old house because uhh.. it might be a little creepy.
2006-10-23 00:55:59 · answer #6 · answered by Ervin Oktariadi 1 · 0⤊ 1⤋