Author Topic: Need to move. New construction or existing home?  (Read 1616 times)

dws1117

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Need to move. New construction or existing home?
« on: June 26, 2005, 03:50:29 AM »
My wife and I are tired of this crappy money pit of of a house that we now have. We have been there a tad over 3 years and it was out first home.

It was built in 1983. The builder was on crack, as is evident by other houses in the subdivision.The previous owner is an idiot. He was one of those " I can fix anything myself" types that really can't. Things are really worse when he is done subsequently costing future owners more to have it done correctly.

Our plan is to spend about 10K doing some repairs and replacing all floor coverings then move away. The faster the better. This is to avoid having spend 20k or more fixing more of idiots "repairs".

With a second kid in the works, more space is also a requirement.

We know that any house we get into will eventually have problems. So we are not running away from problems, just these problems. We have been looking at new construction one the weekends. I know that for for every 10 that love their new home there will be 10 that can give nothing but horry stories for the particular builder. I have read glowing reports and tales of woe for every builder who's homes we have been looking at. Pretty much the same for any manufactured good.

We know that we can get what we want in a home in both new and an existing home within our financial limitations. Buying land and building isn't within those limits. Would you choose new or existing and why? What are the pros and cons of each?

garyk/nm

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Need to move. New construction or existing home?
« Reply #1 on: June 26, 2005, 09:41:23 AM »
Buying new:
pro: the obvious; it's a virgin.
Choice of colors (sometimes).
Con: Developer homes are usually put up quickly, with little thought for quality or longevity.

Buying used:
Pro: it's seasoned. Anything related to faulty workmanship will have probably already shown up.
Con: same reason you're moving. Neglect or poor quality repairs.

We're also looking, and the 3 catagories of home that I would consider are (in no particular order):
New "spec" home. Built one at a time, so none of the rush job pitfalls.
Rehabbed home. Same as above.
Used home with a THOROUGH inspection, to include making sure any improvements are permitted and signed off.

So many of the homes in our area are "owner improved" and of such shoddy quality that I am quite gun-shy of anything which has been added on to.

duck hunt

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Need to move. New construction or existing home?
« Reply #2 on: June 26, 2005, 04:51:58 PM »
I can't imagine buying anything built after 1950.

My house was built in 1925.  It's been through hell and it's still standing!  All of that shoddy new subdivision construction can't hold a candle to a sturdy old house with real wood floors, plaster walls and ceramic tile bathrooms.

My .02

dws1117

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Need to move. New construction or existing home?
« Reply #3 on: June 26, 2005, 07:15:35 PM »
Quote from: duck hunt
I can't imagine buying anything built after 1950.

My house was built in 1925.  It's been through hell and it's still standing!  All of that shoddy new subdivision construction can't hold a candle to a sturdy old house with real wood floors, plaster walls and ceramic tile bathrooms.

My .02
While I agree, those types of houses that are around here are few and far between. The few that are, are either ruins or way more than we can afford. The area where we live (and we do like the area) is suburbs. Just north of Houston. Not much history out here.

My wife grew up in one fo those types of houses. A large house that was built in 1928. The construction was much as you describe. It is located just outside of downtown Austin, TX. Her parents sold it for 750K and it has been put back on the market after some modernization (that makes my wife sick) for a touch over a million. That is a bit over our 140K price ceiling. Sad

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Need to move. New construction or existing home?
« Reply #4 on: June 26, 2005, 08:20:28 PM »
Aw, man.  I feel for you!  While the same thing is happening in the nicer neighborhoods here in Richmond, you can still scoop up grand old houses in the less-desireable neighborhoods for a song.

My parents have lived in the same 1940-era house since 1964 and it's insane how much it's worth now.  I think they paid $15,000 for it.

HForrest

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Need to move. New construction or existing home?
« Reply #5 on: June 26, 2005, 08:42:45 PM »
Quote
I can't imagine buying anything built after 1950.
Asbestos rules!

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Need to move. New construction or existing home?
« Reply #6 on: June 26, 2005, 09:12:32 PM »
I'd rather take the lead paint and asbestos risk than live in the crap that passes itself off as houses now.  Seriously, if I had to live in a McMansion in the burbs, I'd be too busy crying out of sheer soul-sucking misery to ever get anything done.

charby

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Need to move. New construction or existing home?
« Reply #7 on: June 27, 2005, 04:15:39 AM »
I'm in the process of buying my first home and I am also looking for something built before WWII. I have worked on several properties and I like houses built before WWII, like mentioned above just seem to be built better. Things before 1900 can be a little qwirky, but sometimes qwirky is what gives character to a home.

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Brad Johnson

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Need to move. New construction or existing home?
« Reply #8 on: June 27, 2005, 07:32:23 AM »
Remember that you will usually pay a premium for new construction, where you might possibly get an existing home that needs a little TLC for considerably less.

As for older homes, well, they can be great, or great pains in the butt. Older homes tend to have a lot more character and often do exhibit better workmanship and materials. However, you will be dealing with old wiring, old plumbing, and assorted other "old house" idiosynchracies. Plus, the older homes tend to be relatively inefficient insofar as utilities are concerned. This is easily remedied by blowing in new attic insulation and putting in a high-efficiency HVAC system. People tend to a lot of money into windows and doors while ignoring the attic and HVAC systems. That's bad because appx 60% of your heat migration is through the ceiling of your home, and it's the single easiest and cheapest place you can make a diff in your utilities. Extra attic insulation will usually pay for itself in around two years via savings on your energy bill.

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cfabe

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Need to move. New construction or existing home?
« Reply #9 on: June 27, 2005, 08:24:43 AM »
Extra attic insulation can be great, but be careful in older homes with knob and tube wiring, because sometimes the wiring was sized assuming that it had open air to cool, and if you insulate tightly around it (like with blowing insulation) there is the possibility of overheating and a fire.

If you're shooting for a trouble-free experience, new construction from a top quality builder using top quality materials and mechanicals is the best bet. Also the most expensive. Better deals may be available in post-war homes. Century homes and pre-WW2 stuff does have lots of character but also increased cost and complexity of maintainence.

The house I'm in now is a subdivision house built in the 60s by one of the better builders in the area at the time. Workmanship is good and quality materials were used (like real plaster walls, copper DWV pipe, for example). The only problems we've had with the house are results of neglected maintainence, mostly water leaks.