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Replies (25)
- Dan, "the_country_hick"
- Contributions:4692
Used houses always did sell for less than new houses. A house was known to be a depreciating asset. As it aged it lost value like a car does. Why buy new when used is a lot cheaper? Then ask why buy at all when renting is a lot cheaper?
- klarek the realist
- Contributions:7044
New homes are overpriced and poorly made. It's not a great time to buy, even though agents always say that it is, but I'd much rather buy a "used" home which was build with actual care.
- Pasadenan
- Contributions:21449
No, as a buyer, I'm not thinking that I would like to buy new for the same price as used, and no I don't believe that I can buy new for the price of used, and no, a new house that costs the same as a quality old house will not last longer; it will require more maintenance sooner!
Even if Realtors® don't know what is in the walls, I do.
Even if Realtors® don't know what is in the walls, I do.
- Paige Brewer, "paigebrewer"
- Contributions:81
Every market is different. I am a Realtor in the Shreveport/Bossier City, LA market, and I know my market, not another city's market. If you need info on your local market you have options. Talk to a reputable Realtor in your area, or www.realtor.org has a lot of info about individual market trends and statistics.
klarek-Not all new homes are poorly made and overpriced. There are some very good builders out there, who do take pride in their workmanship and build an awesome home. Consumers just need to take the time to do research and find one, again a reputable Realtor can help. Not all Realtor's say "it's a great time to buy." The key is to find a Realtor you can trust.
klarek-Not all new homes are poorly made and overpriced. There are some very good builders out there, who do take pride in their workmanship and build an awesome home. Consumers just need to take the time to do research and find one, again a reputable Realtor can help. Not all Realtor's say "it's a great time to buy." The key is to find a Realtor you can trust.
- Ani Kessisian, "Ani Kessisian"
- Contributions:27
Good Question why buy used when you can buy new. Well depends on where you live. We live in an area where there is no more land to develop so builders will buy older homes and built new construction "Spot Lots" so you are paying top dollar for a house that is in a neighborhood with small homes that are worth signicantly less than your brand new purchase. Back to Basics LOCATION, LOCATION. If you can find a home in a good Location that you can upgrade the essentials such as kitchens, Bathrooms, SS Appliances etc. and add to your equity. Location first and upgrades will only add to your value and appreciation.
- brad606
- Contributions:31
Nope I've never known anyone who thinks this.
Moreover, I doubt I'll ever (even years from now) buy anything built in the 2000's. As klarek said, the quality of construction was just awful for so many of these... the market was hot so they didn't have to build them well. Way to go, housing bubble.
Moreover, I doubt I'll ever (even years from now) buy anything built in the 2000's. As klarek said, the quality of construction was just awful for so many of these... the market was hot so they didn't have to build them well. Way to go, housing bubble.
- SteadyState
- Contributions:783
Buyers are thinking:
Why buy a new home or a old home when home prices are declining and you can rent a new one or a old one at a fraction of the cost?
Why buy a new home or a old home when home prices are declining and you can rent a new one or a old one at a fraction of the cost?
- Dunes....
- Contributions:3894
I think the amount of Sales shows Buyers are thinking....
Why Buy at this Time? New or Old?
I also think this Question/Discussion is just an excuse for more of the "Good time to Buy"Sales Pitch the Buyers have been listening to from "Experts" since 2006..a thread where now Agent after Agent can advise the Public it's a "Good Time to Buy"
A Sales Pitch proven wrong for so many who did buy following that "Expert" Advice"...people who remember and have Family/Friends/Co-Workers to share that memory with...
Foreclosed on people, Short-Sale people. People who sold at a loss..
People who bought in 2008/9/10 and see they paid far more than they would have had to if they waited because Agents said "This is the Time"..."Don't want to miss the Bottom".."Interest Rates"
I think Agents have a Major Credibility Problem with the Public..MAJOR CREDIBILITY PROBLEM...which they Created themselves and are continuing to add to by foolishly thinking the Public is made up of fools who actually believe because someone has a Real Estate License they MUST know something about Real state, Markets, the economy, Loans, Programs...
Why Buy at this Time? New or Old?
I also think this Question/Discussion is just an excuse for more of the "Good time to Buy"Sales Pitch the Buyers have been listening to from "Experts" since 2006..a thread where now Agent after Agent can advise the Public it's a "Good Time to Buy"
A Sales Pitch proven wrong for so many who did buy following that "Expert" Advice"...people who remember and have Family/Friends/Co-Workers to share that memory with...
Foreclosed on people, Short-Sale people. People who sold at a loss..
People who bought in 2008/9/10 and see they paid far more than they would have had to if they waited because Agents said "This is the Time"..."Don't want to miss the Bottom".."Interest Rates"
I think Agents have a Major Credibility Problem with the Public..MAJOR CREDIBILITY PROBLEM...which they Created themselves and are continuing to add to by foolishly thinking the Public is made up of fools who actually believe because someone has a Real Estate License they MUST know something about Real state, Markets, the economy, Loans, Programs...
- Shawn Ryan Rosa, "sryan1980"
- Contributions:494
Buyer's are more often thinking, "why buy a used home when I can buy a new home for slightly more?"
- Cindy Quinton, "Cindy Quinton"
- Contributions:1321
I never thought we would consider it, however we are looking for a home on at least an acre, with a pool and a shop. Seems to be hard to find at all and then when we do find it, the price is too high for us or for the property. Since there is land for sale quite resonable, we have considered going the "new" route.
I'm going to wait until spring and see if anything comes on the market.
I'm going to wait until spring and see if anything comes on the market.
why buy a used home in the Phoenix metro, with a median price of $140K, when you can buy a new home with a median price of 180K?
40K less maybe?
close to your work, instead of 40 congested miles away...
close to restaurants, shopping, entertainment instead of out in a converted farmland?
40K less maybe?
close to your work, instead of 40 congested miles away...
close to restaurants, shopping, entertainment instead of out in a converted farmland?
- SteadyState
- Contributions:783
Buyers are thinking - why are agents so concerned about by well being? And they are thinking or is there some other reason for the shill? Hint. Hint.
- Kamaaina Realty
- Contributions:54
It depends on the "dream" and what the buyer can "afford". If their dream is get a new home and they can afford it, then they will go NEW. If they can't afford the dream now, then they will get the used one and build themselves up to a New Home. Some new home builders have so much great incentives that it might make sense. Always will depend on the buyer. Hope this helps!
- Sharon Lewis, "Sharon Lewis"
- Contributions:3915
No, they arent. My buyers are individuals, some like brand new homes, some prefer homes with bones and a more mature neighborhood with mature trees. Its a personal choice. I prefer an older home for example and would never purchase new.
- sunnyview
- Contributions:25127
No. I am not considering a new house. New houses are not built as well as old ones. Old houses can be updated to be more efficient while new houses are built with problematic materials that cannot be replaced without great expense if at all.
New houses can also cost more initially per square foot, but can depreciate over time when they are no longer "new". New subdivisions often compete with new house you buy today so when you go to sell in 10 years the builder is the one selling the new house not you.
New houses can also cost more initially per square foot, but can depreciate over time when they are no longer "new". New subdivisions often compete with new house you buy today so when you go to sell in 10 years the builder is the one selling the new house not you.
- jvr3207
- Contributions:2
My thought is the potential. A used house that has depreciated significantly over the last few years seems to have more potential to rise back up to original prices. When buying a new home, you really don't have any previous data points to go off of, other than predictions.
- Rita A. Walker, "Rita Walker"
- Contributions:277
I do not know where that is happening. New Homes are higher priced than used homes with the same specs.
Homes are bought on personal preference. Many young buyers are actually opting for older homes because they have character ... and oh, yes, they have yards with trees ... and oh, yes, the garage is not the first thing that you see.
Buyers are tired of cookie cutter new construction!!
Homes are bought on personal preference. Many young buyers are actually opting for older homes because they have character ... and oh, yes, they have yards with trees ... and oh, yes, the garage is not the first thing that you see.
Buyers are tired of cookie cutter new construction!!
- sunnyview
- Contributions:25127
Rock on Rita! Thumbs to you jvr3207 too :)
- Nina Harris, "NinaHarris"
- Contributions:257
For the most part not in the area I service. I am experiencing buyers looking more in the way of homes that are in move-in condition. Homes that haven't been updated are sitting on the market for a much longer period.
- New_Englander
- Contributions:60
I've wondered this too. Remember, "used" does not necessarily mean high-qualty craftsmanship of old. Used can be anything which has been lived-in. Where I live, in northern New England, this IS happening. A large number of spec homes have been built in the same area in the last 9 years or so. There are two builders who have built them all, and they are all of about the same quality. Some never sold and while they're not "new," they are unlived-in, which is appealing to some people. There are also some brand new spec houses (again, similar quality to the rest) built in the last year or two. These spec houses are on the market for less than many of the "used" spec houses which sold in the early-mid 2000s, and which are again on the market. It is certainly disheartening to think that even if we lower our price quite dramatically, there will be many new houses going for the same price.
- Wes Black
- Contributions:509
Many buyers love the charm and character of older homes. Personal preferences usually win out.
- Katherine Cannon, "highheeledhomeowner"
- Contributions:107
Every "used" home was once new. I don't think it's fair to point out trends in building as a rule when there are many different builders today-some good, some bad.
I've noticed that the young buyers I work with tend to really like new. Never been used, new home smell, and no unexplained stains on carpets, etc.
At least in my area, it seems that new homes are priced fairly and since they have to compete with resale homes and vice versa, the values are there because of what a buyer will pay. All homes have pros and cons, new construction or not just being one of the components.
I've noticed that the young buyers I work with tend to really like new. Never been used, new home smell, and no unexplained stains on carpets, etc.
At least in my area, it seems that new homes are priced fairly and since they have to compete with resale homes and vice versa, the values are there because of what a buyer will pay. All homes have pros and cons, new construction or not just being one of the components.
- tommy willoughby
- Contributions:8
i've been in const for over 30 yrs!! new used built in 1980 or 2012 it's the builder!!! WHO BUILT THE HOUSE!!! i've done work for builders in 1980 who would say if you have a problem with something in the house! "i cant see it from my house!! nail it!!! and on closing day in 1994 i was in a house doing touch-up work and the builder,new-home owner & the attorney's were all in the house. before going to the closing the builder was bragging on the guys will stay til everything is prefect because "we" do quality work!! i believe in taking care of my client!!! and then in the same sentence turn around to me and say can i speak to you out side. we'd walk out of the house and away from anybody who could hear us! and he'd say! the closing is at 11:00am at 11:15 am you & your guys be goin i dont care what you like! it's there problem then !!! the papers will be sided.. so it's all in who built the home your looking at!! wheather 1980 or 2112... not the houses were built better 20yrs ago it's "who"....
- user335814
- Contributions:8
I'm buying new for the energy efficiency upgrades that old homes don't have or will cost me $$ to put in and all the hassle of remodeling or construction. Or waiting around for a rebate check. Also, houses built during the 2000 boom period went up faster than a fly-away balloon. Can you say Chinese dry wall? Fitting an 1980's house with better insulation on pipes, attics and walls is just more than I want to deal with...buy new and it's already done. Save up & spend my $$ on upgrading other things with the money I'll still have in my pockets from energy efficienct roof, windows and walls. While typing this I just watch another HGTV show where renovations uncovered unexpected or shoddy workmanship on a home improvement project...sigh. I think the signs are pointing "N" for new...
Are buyers thinking: "Why buy a used home when you can buy a new one for the same price?"
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