New homes versus existing homes (Houston, Katy: apartment complexes, appliances, lawyers)

[aussieroz]

We are relocating next year and are coming next month for a research visit around Katy. I have always been partial to buying an existing home in an established area, mainly due to I find fitting into an existing community helps us settle quickly and any house maintenance issues are usually settled and sorted out. But I also see new homes are well priced, and have thought about building now with a view to have a new home to move into when we are relocated. What offers better value? Please let me have all your opinions??

[johnsmith]

I prefer new house, you don;t need to worry the maintenance since the builder cover.

[Nanner]

I personally like living in an existing home in an established neigbhborhood, not just for the reasons you mentioned, but because there are so many homes out there already, I know there's one that will fit my needs. As far as maintenance issues, that's what an inspection is for. Plus, I also know exactly what I'm getting, as far as the neighborhood is concerned. I know what kind of retail is around, whether any apartment complexes are nearby, etc.

The only reason I'd build new is if I wanted a completely custom home that I had designed specifically for me; I'd never have a new home built just to have new construction.

[aussieroz]

Thanks for your reply Nanner, I agree wholeheartedly with your comments, the neighbourhood is established and you can get a good sense of the area you are going to live in.

My main thoughts about the question was, in and around Katy - are new homes seen as a better buy than an existing one? Are existing ones holding their values better or worse because of the abundance of new builds?

Any opinions?

[Nanner]

I'm not an expert on Katy, but from what I understand, as long as you stay on the south side of I-10, the value of the homes there have either sustained or risen, in spite of all the new construction. The north side hasn't fared as well, until you get further west, into Katy proper. Even on the south side, it does depend on the neighborhood, though. Areas like Nottingham Country, Green Trails, Kelliwood, and the older, more developed sections of Cinco Ranch have risen in value to keep up with the market. These are all areas developed in the 80s (except for Cinco, which began construction in the 90s, I believe), and are really nice, and zoned to good schools. I especially like Green Trails.

As far as what holds a better value, old vs. new, I couldn't say. I'm just not familiar enough with new construction to make a judgement. I would think it would depend on the builder, the schools, and any zoning regulations that are in place. I'm not sure where Katy stands with zoning. Perhaps someone more familiar with the area can give you some info on that.

[wills]

Houses being built now tend to be low quality, combined with 100%+ financing they are almost certainly destined to become instant slums.

[stopaction]

Nanner, thanks for your insights to housing in the Katy area even if you are not an expert. Any idea why the north side of I-10 hasn't done so well? My wife and I may be moving to Houston this spring, and I was looking at the area just west of 6 and north of I-10 as the ideal commuting area for my new job.

The other thing I was wondering about is no one seems to talk about any houses but those in planned communities. What about the older homes in Katy immediately north of the downtown area? I took a very brief drive through there and while there was a mixed bag of houses, some quite small, it looked nice enough. Anything I'm not seeing or understanding?

[Furgerson]

Wills---you are very far off! Doctors, Lawyers, Teachers Police Officers take the 100% financing. A new home is by far your best option! You can pick everytihng out the way you want it. An existing home is getting closer to needing the roof repaired, ac replaced, water heater, appliances etc... are losing their warranty. You just have to get yourself into a master planned community with deed restrictions. Houses being built are of better qualty than they have ever been. Building codes are getting more and more detailed. You just have to chose a builder with the best warranty program. Moderator cut: advertising.

[Mimi1980]

I purchased an existing home 4 years a go when I moved to Texas while 2 of friends went the safe route and purchased a new home. Both of my friends are now suffering from the diversity of the neighborhood. My friend "A" had her house broken into , and My friend "B"'s son was shot twice by kids in the neighborhood. What I am trying to say is that usually pricing plays a big role in the determination of the neighborhood where one wants to live, if you are looking in the low 100's to 150's , an existing subdivision might be better for you. Those house kept their value over the years for a reason. New subdivisions attract just about anyone who can maintain the minimum payment on a house....Don't just think about the quality of house ( usually better in an older home anyway) but also about your neighbors and who your kids are playing with after hours....Most of my neighbors have been here for over 20 years and know each other very well, my neighbors tell me who comes close to the house when I am not here, it is a very safe neighborhood, lots of trees and shade which helps trenmendesouly with the energy bill and much much more... ( Creek Stone, Katy, TX)

[tstone]

Originally Posted by wills

Houses being built now tend to be low quality, combined with 100%+ financing they are almost certainly destined to become instant slums.

We purchased slightly used because we found this was true with new homes in Clear Lake around 180k. 3000 sq ft of KB junky junk, 2nd story floor pops/squeaks, thin walls, mostly wood siding, cheap carpet, linoleum tile, etc. Realtors, however, say lots of things.

We found if we wanted quality, we'd need to spend more like $280k for a new home. So instead we bought 11 yrs old, 99% brick, 1 story w/ 10 ft ceilings, good carpet + ceramic tile, 2200 sq ft for $180k. The only problem we've had was we had to replace the a/c once it turned 13 yrs old, which goes w/o saying around Houston. Everything else in the house is solid and in good shape. We'll probably need to paint the wood strips next year. And in about 3 years we'll probably need new shingles.