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Most retirees are looking for single story homes. Who wants to risk falling on stairs? When I look in Ashevillle most homes are older and few have a 2 car garage. Most have a second floor and some are quite old. Who wants to rehab a house in your senior years?
I don't really want to rehab a house in my senior years, but we did search hard for a single family home for that reason and finally found one--built in 1960.
Right now I'm spending every night in the attic doing electrical work (first phase of what all needs to be done)...and also looking at back surgery for arthritis in a couple of months.
They really seem to have stopped building single story houses around here back in the early 70s.
I live in a "Boomer" neighborhood built in 1991-1995 and the typical house is a two story with a walk out basement on a quarter acre to half acre lot. It has about 4000 sq ft finished with a 3 car garage.
Most of the original owners have stayed. However, when one of these houses goes on sale, it's usually sold within 1 month. I think it's because we have decent spacing between homes and the houses have ample space. The sales prices are about $450K-$500K.
The newer houses at that price level are on tiny "trailer lots", i.e. narrow and deep; indeed, the houses are being built about 10 feet apart. Furthermore, at that price level, one gets about half the floor space in a new house and the commute times are high because the new development is way out there.
So a buyer has a choice: A smaller new house way out there in a congested neighborhood or a used house that likely needs updating in an established near in neighborhood on a larger lot.
I live in a "Boomer" neighborhood built in 1991-1995 and the typical house is a two story with a walk out basement on a quarter acre to half acre lot. It has about 4000 sq ft finished with a 3 car garage.
Most of the original owners have stayed. However, when one of these houses goes on sale, it's usually sold within 1 month. I think it's because we have decent spacing between homes and the houses have ample space. The sales prices are about $450K-$500K.
The newer houses at that price level are on tiny "trailer lots", i.e. narrow and deep; indeed, the houses are being built about 10 feet apart. Furthermore, at that price level, one gets about half the floor space in a new house and the commute times are high because the new development is way out there.
So a buyer has a choice: A smaller new house way out there in a congested neighborhood or a used house that likely needs updating in an established near in neighborhood on a larger lot.
There are customers for both.
Well, right off the bat I would strongly challenge your assumption that a house built in 1991-95 "likely needs updating". I grant you that several mechanical items may be nearing the end of life (HVAC components, dishwasher, roof) but there is no reason on earth (except out of control consumptionism and HGTV) that a 28 year old house cannot serve any REASONABLE person's needs perfectly well, simply by replacing things that wear out with similar items, as needed.
Thank goodness you have your dense urban cocoon to provide all for you.
I've had my license since I was 16 (I'm 23 now). To this day, I still rent cars when it comes time to visit my best friends in rural Northeast PA. Why is not liking/wanting a car such a foreign concept to some people? Motorists always try to present cars as a symbol of freedom when they really symbolize entrapment to me. When I'm on SEPTA, I can relax, sleep, listen to music, read a book, and many other things. When I'm walking or riding my bike/skateboard, I also feel the same sense of freedom and serenity. Cars are also a pain to own and operate in an urban area. I don't want to have to drive in traffic, look for parking, and potentially pay for it when transit will get me there faster, cheaper, and without the hassle of parking.
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Originally Posted by sonnymarkjiz
Hahaha you say that now. Wait until you turn 30 something and get married and everyone you know who are in the city will be looking at houses in the burbs. I thought the same thing you did in my early 20's and now.....
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Originally Posted by b-nasty
When you have kids, you'll likely realize that the schools in Philly are abysmal, even compared to many other cities. You might also start to worry about things like Philly frequently making lists of 'most dangerous cities'.
Don't get me wrong, I enjoyed Philly in my 20s, but your perspective will shift when you have some young kids running around.
I'm so serious about this that I don't seriously date women who can't see themselves living in the (or at least a) city long-term. Philly schools are better than what they were when I was growing up in the 2000s. I could easily move to Spruce Hill, Queen Village, Fishtown, etc. and send my future kid to a quality school such as Penn Alexander, Meredith, Adaire, etc. Also, for those who know about Philly, the crime is HIGHLY concentrated to certain neighborhoods, and more so to certain blocks. Being the victim of a crime is literally the last thing on my mind, and I've been to all Philly neighborhoods at all hours (I was walking along Kensington Ave to get to Somerset late last night). Even so, my West Philly neighborhood is quiet and relatively crime-free. There are plenty of neighborhoods where one could raise a kid worry-free.
Well, right off the bat I would strongly challenge your assumption that a house built in 1991-95 "likely needs updating". I grant you that several mechanical items may be nearing the end of life (HVAC components, dishwasher, roof) but there is no reason on earth (except out of control consumptionism and HGTV) that a 28 year old house cannot serve any REASONABLE person's needs perfectly well, simply by replacing things that wear out with similar items, as needed.
Can't rep you again, but wish I could. I definitely agree. HGTV has really harmed people in this way, IMO. I used to like HGTV, but as time has passed I see it's harmful side more and more.
Last edited by Piney Creek; 02-06-2019 at 07:12 AM..
Maybe the problem with some of the smaller ones are that they are too old and need a lot of work. I’m sure more would rather pick a new townhouse over a 1970s spilt. The problem with the big houses is the amount of maintenance needed...more heating, cooling, cleaning, etc. and in terms of many of the McMansions from the 90s and early 2000s.....many are also outdated and haven’t been updated since first bought usually. And they are often sold at the time when things would need to get replaced in the house
The "starter home" for many young buyers now is definitely choosing a newer/easier upkeep townhome over a SFH. For both financial and practical purposes.
Builders are definitely taking note (and they can crank out more product on less land so they're definitely happy to meet that demand!)
The 3/2 SFH with the fenced in yard for under $300k is still the "Bread and Butter" for first time homebuyers in my market but newer townhomes are not far behind.
One surprising thing we learned when looking at houses is smaller houses don't always have smaller energy bills than large houses. Older houses, and sometimes sprawling ranch-style houses sometimes have fairly high bills. Newer construction can be very energy efficient. I think the townhouses are probably the champs when it comes to lower bills.
Well, right off the bat I would strongly challenge your assumption that a house built in 1991-95 "likely needs updating". I grant you that several mechanical items may be nearing the end of life (HVAC components, dishwasher, roof) but there is no reason on earth (except out of control consumptionism and HGTV) that a 28 year old house cannot serve any REASONABLE person's needs perfectly well, simply by replacing things that wear out with similar items, as needed.
I agree with you.
But 20-year-old kitchens and bathrooms around me are considered a gut job.
Even finishes from the early 2000s are considered dated now and are taking a big hit on price.
Well, right off the bat I would strongly challenge your assumption that a house built in 1991-95 "likely needs updating". I grant you that several mechanical items may be nearing the end of life (HVAC components, dishwasher, roof) but there is no reason on earth (except out of control consumptionism and HGTV) that a 28 year old house cannot serve any REASONABLE person's needs perfectly well, simply by replacing things that wear out with similar items, as needed.
Very true.
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