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Old 06-17-2007, 05:08 AM
 
458 posts, read 1,582,028 times
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Default How old is an "old house"?

I was talking to a friend who is relocating from MA/CT area to TX and she said when they were househunting an "old house" is from 2000! And of course it's TX so all the houses are HUUUUUGE! When we were looking at houses in Lexington it seemed to me the "old houses" were from the 70s or so--is that about right? Around here an old house might be 100 years old!

We are thinking that when we move we will be moving into an "old house" so that we get good value for our money and maybe a little more yard than in the new developments. Also, our budget is modest--under 200K, not into the more pricy homes. What is the appreciation value on an old house? Is it a good buy, or years from now when we sell will we be sorry????
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Old 06-17-2007, 05:41 AM
 
Location: Louisville, KY, USA
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Obviously, it depends on the neighborhood.

I think on the other forum you said you were moving to Lexington? - if so I would look at areas along Richmond Road just SE of downtown, generally around Ashland the Home of Henry Clay. This is a nice historic area with low crime Most of the houses here date to around the 1920s
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Old 06-17-2007, 06:31 AM
 
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Downtown Lexington has some absolutely GORGEOUS old homes. They aren't in the greatest part of town [some of them], but I want to buy all of them and fix 'em up. They're so beautiful.

But Lexington is a fairly old city, so you're going to find some older houses in it. And by old - I mean, early 1900s old.
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Old 06-17-2007, 08:12 AM
 
282 posts, read 683,591 times
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Quote:
Originally Posted by Angry Aspie View Post
Obviously, it depends on the neighborhood.

I think on the other forum you said you were moving to Lexington? - if so I would look at areas along Richmond Road just SE of downtown, generally around Ashland the Home of Henry Clay. This is a nice historic area with low crime Most of the houses here date to around the 1920s
With a budget of $200k tops? Around Ashland? She won't find anything with four walls except maybe a doghouse in that price range around Ashland. Or did I miss something when I was there?

But MicahGirl I think you will find a great house in that price range, although you won't be right downtown or close to campus. As for your question, I don't think it's the age of the house so much as the neighborhood. We were looking at "fixer upper" houses about 30-40 years old in Lakeview which were all upwards of $350k (some over $500k). But there are other nice neighborhoods with decent schools where you could find something in that price range, if you don't need it to be a huge house.

Personally I'd much rather buy an "older" (10+ years old) house that needs a little updating and is built solidly (good "bones") compared to one of the newer crackerbox houses, many of which aren't built nearly as well. Much more value for the money. We looked at a couple of new construction houses and walked right back out. You can buy a much better existing house for the same money.
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Old 06-17-2007, 09:34 AM
 
Location: Louisville, KY, USA
117 posts, read 355,262 times
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[quote=ic-epi;899756]With a budget of $200k tops? Around Ashland? She won't find anything with four walls except maybe a doghouse in that price range around Ashland. Or did I miss something when I was there?

/QUOTE]

There are more modest homes on the other side of Richmond Road, like along Lincoln or Bassett Avenues. Theses areas are far enough from campus to not have any partying issues
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Old 06-17-2007, 09:54 AM
 
Location: Far Western KY
1,833 posts, read 4,200,031 times
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50+ years in my world.
25-50 is 'older' but not old
10-25 is 'newer' but not 'new'
anything less then 10 years old is just cheap.:-)
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Old 06-17-2007, 10:40 AM
 
3,759 posts, read 7,672,530 times
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Quote:
Originally Posted by Micah Girl View Post
I was talking to a friend who is relocating from MA/CT area to TX and she said when they were househunting an "old house" is from 2000! And of course it's TX so all the houses are HUUUUUGE! When we were looking at houses in Lexington it seemed to me the "old houses" were from the 70s or so--is that about right? Around here an old house might be 100 years old!

We are thinking that when we move we will be moving into an "old house" so that we get good value for our money and maybe a little more yard than in the new developments. Also, our budget is modest--under 200K, not into the more pricy homes. What is the appreciation value on an old house? Is it a good buy, or years from now when we sell will we be sorry????
No, old homes here are usually considered "pre war" homes, that is pre WWII. Before that time, America was built much differently--more densely, more vertically, and based on interurban, trolley, and rail lines. Then came the baby boomers, white flight, segregation, and the social phenomenon known as "suburbia." The concept simply didn't exist before, even though some ads from the late 1800's from Louisville advertise "suburbs" like the "Southern Extension" (Old Louisville), Audubon Park, and Jacob's Addition. These areas were built on a street grid and continued the pattern from the urban city, so they are not like the gated, closed in communities of today. Louisville and Lexington are old cities, founded in the late 1700's, and each have a significant housing stock from the late 1800's to 1950 (much of the development prior to 1870 was frame housing or other industry that was torn down. For example, the oldest structure remaining in downtown Louisville is from 1829). If you are interested in seeing where the old homes are in any city, you may use the Fact finder tool on the US Census bureau website.
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Old 06-17-2007, 11:19 AM
 
Location: Debary, Florida
2,267 posts, read 25,039 times
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When I spent 3 months in England (Oxford area), I rented a home that was built in the 1780s...

It was built before electric power, indoor plumming, when they cooked over the fire in the dining room/kitchen. Luckily it had been updated and added on to.
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Old 06-17-2007, 12:11 PM
 
Location: Kentucky
6,758 posts, read 14,101,180 times
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My house is from the 50's but I wouldn't consider it old, I just consider it well built :-)
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Old 06-17-2007, 02:05 PM
 
458 posts, read 1,582,028 times
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Quote:
Originally Posted by Angry Aspie View Post
Obviously, it depends on the neighborhood.

I think on the other forum you said you were moving to Lexington? - if so I would look at areas along Richmond Road just SE of downtown, generally around Ashland the Home of Henry Clay. This is a nice historic area with low crime Most of the houses here date to around the 1920s
Thanks for the tip. I can't believe how many response I got since this morning!
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