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Old 10-28-2018, 07:20 AM
 
318 posts, read 311,974 times
Reputation: 242

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Quote:
Originally Posted by wheelsup View Post
Our first house was in a new neighborhood. It's 15 years old now and still looks new(er). Personally, I have no desire to purchase a home in newer part of the city ever again. Not only are the established areas closer in but the lots are generally much better. Also shade is very desirable from a utilities standpoint, much lower cost to cool your home, less wear and tear, the benefits are huge. IMO way too much emphasis is placed on buying "new". Buy for the location and bones, everything else can be changed.
Thank you! This was great advice.
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Old 10-28-2018, 09:47 AM
 
Location: Plano, TX
975 posts, read 2,296,518 times
Reputation: 1086
The benefit of buying new for some people is they're not capable of basic maintenance, and they assume a newer house won't have problems.

Many also buy their home as a status symbol, and they want new and big.

A previous benefit of buying new is having more families with young kids (if you have kids). However, being in this day and age, where very few kids are playing outside, or at all, this has been largely negated.

Newer areas probably also tend to have more kid-oriented activities nearby.
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Old 10-28-2018, 10:14 AM
 
349 posts, read 344,814 times
Reputation: 518
Quote:
Originally Posted by Bullandram1 View Post
We will probably be looking in Arlington or Watauga. Our budget is $150-$180 seems really impossible right now, but we are a one income family. Everything seems minimum $200-250.
150-180 isn't gonna get you anything but total dumps now. Those days are long behind us, and they aren't coming back. Sorry.
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Old 10-28-2018, 11:14 AM
 
Location: 89052 & 75206
7,821 posts, read 7,247,117 times
Reputation: 18919
Quote:
Originally Posted by Bullandram1 View Post
We will probably be looking in Arlington or Watauga. Our budget is $150-$180 seems really impossible right now, but we are a one income family. Everything seems minimum $200-250.
That will be a fixer. And you have to compete with cash holding investors at that price. There are still a few houses in really cute pocket neighborhoods that do crop up in your budget. The prices are usually lowest the last quarter of the year, so I’d be looking seriously now.

I’d consider looking in zips 76040 (Euless ok schools), Arlington’s 76006 76013 (and plan on enrolling kids in Uplift’s Summit charter school) or also Irving’s 75060 or 75061 (again use the uplift charter school in that area)
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Old 10-28-2018, 12:03 PM
 
Location: DFW - Coppell / Las Colinas
40,187 posts, read 45,888,306 times
Reputation: 52733
Buyers... Who's waiting for the next 4 interest rate increases expected over the next 15 months ?

By the end of 2019 the Interest rate will be back to a more normal 5% interest rate. Don't freak out, a 5-6% rate is normal.
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Old 10-28-2018, 12:28 PM
 
75 posts, read 57,191 times
Reputation: 260
Interest rates already at 5%
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Old 10-28-2018, 02:54 PM
 
18 posts, read 16,737 times
Reputation: 50
new home waiting on more drops and corrections. Looking also at the commercial properties but that holding strong.
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Old 10-28-2018, 04:26 PM
 
Location: Texas
633 posts, read 659,138 times
Reputation: 1997
Quote:
Originally Posted by houstonview View Post
Wow only $5k it’s kidt have had all the bones done. This home looks like it needs, floors, kitchen & both baths fully done. Looks like $30k min to me. We have contractors and are willing to try things ourselves but don’t want to get over our head.
My niece was a first time buyer which is why I helped her along. It is really amazing what paint can do. She and I removed all the wallpaper ourselves, the painted all the walls gray and all the trim and cabinets white except in the bathroom. She wanted them blue in there.

If you look closely at the 3005 oak house, you will see that they too just painted over the wall paneling and the cabinets. The only “new” things are the countertops and living room floors.

It took us a month to do everything ourselves. My niece spent the $5K on new floors. Her kitchen was a neutral corian so we kept that. And recently she spent $1K on new countertops in a full bath and a half bath.
I know it’s hard to over look hideous wall color and floors. But trust me, those are easy fixes vs floor plan, low ceilings, small spaces, flow, etc.
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Old 10-28-2018, 10:48 PM
 
13,806 posts, read 25,992,902 times
Reputation: 14206
Quote:
Originally Posted by compSciGuy View Post
The benefit of buying new for some people is they're not capable of basic maintenance, and they assume a newer house won't have problems.

Many also buy their home as a status symbol, and they want new and big.

A previous benefit of buying new is having more families with young kids (if you have kids). However, being in this day and age, where very few kids are playing outside, or at all, this has been largely negated.

Newer areas probably also tend to have more kid-oriented activities nearby.
The one big benefit towards buying a new home would be energy efficiency. They are typically better insulated and built tighter. You'd have to take an older home down to its studs and reinsulate the walls and ceiling, install new windows, new appliances and a new HVAC system to be close to comparable.
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