Need advice for old home (crime, first time home buyer, neighborhood) - City-Data Forum

skaggarwal · 06-03-2007, 11:54 PM

This weekend I saw a lovely lake front house of davis lake (actually a pond) but it is around 17 years old. I know roof needs to be done. But is buying such a old house too much risk? My realtor, who is quite good said house is well maintained and cared for. I am first time home buyer and don't know anything about house repairs. Do you think it will be difficult to resale say after 4-5 years when house will be 22 -25 year old house. I loved the house and the view only, thing holding me is the fear of buying and then bogged down by repairs and maintainance of which I don't know anything. Please help and advice me if I should leave this and concentrate on newer houses.

lovesMountains · 06-04-2007, 03:19 PM

Quote:

Originally Posted by skaggarwal

This weekend I saw a lovely lake front house of davis lake (actually a pond) but it is around 17 years old. I know roof needs to be done. But is buying such a old house too much risk? My realtor, who is quite good said house is well maintained and cared for. I am first time home buyer and don't know anything about house repairs. Do you think it will be difficult to resale say after 4-5 years when house will be 22 -25 year old house. I loved the house and the view only, thing holding me is the fear of buying and then bogged down by repairs and maintainance of which I don't know anything. Please help and advice me if I should leave this and concentrate on newer houses.

I had to laugh when I read this, sorry!

You think a 17 year old home is OLD???? Man, I live in a 30 year old home and no way do I consider it old. An old home to me would be one built at least 75 or 100 years ago. In my opinion "older" homes (those that are at least 15 years old) are built better and stronger than many of today's new construction homes. Just because something needs a new roof doesn't make it a risky purchase at all. Use the fact that this one needs one as a bargaining chip to get the home price lowered. Or require the current owner to replace the roof as part of your offer. If you loved the house and it has a great view chances are you will have no problem selling it later down the line. Don't let fear keep you from going after what you want

Best of luck!

dandevder · 06-04-2007, 03:30 PM

I would get the inspection done and see what comes of it. My house is 27 years old and the inspection report was very good. It depends on how well the previous owners took care of it.

The house I owned before that was 51 years old. We had a few repairs, but nothing that was unreasonable. Best of luck in your house search!

saralee · 06-04-2007, 04:28 PM

Quote:

Originally Posted by lovesMountains

I had to laugh when I read this, sorry!

You think a 17 year old home is OLD???? Man, I live in a 30 year old home and no way do I consider it old. An old home to me would be one built at least 75 or 100 years ago. In my opinion "older" homes (those that are at least 15 years old) are built better and stronger than many of today's new construction homes. Just because something needs a new roof doesn't make it a risky purchase at all. Use the fact that this one needs one as a bargaining chip to get the home price lowered. Or require the current owner to replace the roof as part of your offer. If you loved the house and it has a great view chances are you will have no problem selling it later down the line. Don't let fear keep you from going after what you want

Best of luck!

loves,

I had the same response. Not to demean the original poster but, back in Jersey, we didn't know anyone who lived in a home less than 50-years-old. Many of the homes we considered were 60+. I have never in my life seen so much new home stock before (well, maybe when I was in Austin and I thought it was creepy because everything was so new).

The home we had our heart set on initially (sellers pulled out of the deal weeks before closing) was 34-year-old. Ultimately, we settled into a 4-year-old home that looks and feels brand new.

I'm still stymied by the thought process that says a home has to be brand new to be appealing.

SL

south.charlotte&union · 06-04-2007, 07:44 PM

Quote:

Originally Posted by skaggarwal

This weekend I saw a lovely lake front house of davis lake (actually a pond) but it is around 17 years old. I know roof needs to be done. But is buying such a old house too much risk? My realtor, who is quite good said house is well maintained and cared for. I am first time home buyer and don't know anything about house repairs. Do you think it will be difficult to resale say after 4-5 years when house will be 22 -25 year old house. I loved the house and the view only, thing holding me is the fear of buying and then bogged down by repairs and maintainance of which I don't know anything. Please help and advice me if I should leave this and concentrate on newer houses.

Get inspections and consider asking the seller to pay for a one year home warranty at closing. You can usually extend those warranties if you want.

skaggarwal · 06-04-2007, 08:06 PM

Thanks for the all the advice and encouragement. I have never owned a house and was just scared. Thanks. You guys made my decision simpler.

zenlife7 · 07-01-2007, 11:46 PM

Skaggarwal, funny thing we just got back from our trip and fell in love with this Davis Lake home with the lake view also? My question is if this is a good community to raise small kids and how are the schools, and crime? Good luck to you.

skaggarwal · 07-02-2007, 05:42 AM

zenlife7, when I last checked the house I was interested in is under contract but there were 3 on market on the same street, I am not sure which one you saw. We loved the houses on this street. When we went around in the neighborhood we found that most of the neighbors are living since 1990 when the community was built. Also we found that median age is significantly higher and none of them were from SE Asia. My wife presently stays at home and it was important factor for us. I don't know much about schools but we did liked the subdivision with all the walking trails and fishing etc. You can check the schools/crime on one of the websites. Let me know if you need any more information what ever you do, Good Luck.

zenlife7 · 07-02-2007, 01:40 PM

We are Asian as well, I seen a few in the community, not many but a few. I like the area because of the diversity, coming from Southern Cali it helps to live where you don't feel out of place, lol. The homes we looked at was on Old Fox Trail, nice home can't find anything like that in Southern Cal for that price. I'm alittle worried about the homes in that community have been on the market for like 9 months or so. But that's how it is in California so, I guess is everywhere. Thanks for the reply.

Hopes · 07-02-2007, 06:34 PM

Quote:

Originally Posted by lovesMountains

I had to laugh when I read this, sorry!

You think a 17 year old home is OLD???? Man, I live in a 30 year old home and no way do I consider it old. An old home to me would be one built at least 75 or 100 years ago. In my opinion "older" homes (those that are at least 15 years old) are built better and stronger than many of today's new construction homes. Just because something needs a new roof doesn't make it a risky purchase at all. Use the fact that this one needs one as a bargaining chip to get the home price lowered. Or require the current owner to replace the roof as part of your offer. If you loved the house and it has a great view chances are you will have no problem selling it later down the line. Don't let fear keep you from going after what you want

Best of luck!

Me laughed too! My house is over 100 years old! It's worth more than newer homes too! I absolutely LOVE my house!