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Please share your opinion on this subject. By older, I mean late 70s, 80s to late 90's. By new I mean late 90's till date. Thank you.
I have owned 3 houses, all of them older; currently I own 2 houses. By older I mean much older than houses built in 70s. 80s & 90s. The oldest house I was owned was a 12 room Victorian in an East Coast city built in 1880 that I sold in the early 1990s. I currently own a 10 room twin (semi-detached) built in 1888 that I rent in a different East Coat city and ranch house that is my primary residence in a California East Bay town built in the early 60s.
I prefer older houses because I think are are built to last, the overall craftsmanship better, and have more character. Even more important to me is that most of the houses built prior to the 70s have hardwood floors which I insist on having in any house that I purchase.
If older means high/vaulted ceilings and "character" in an established neighborhood, yes.
If older means ranch style, 8ft popcorn ceilings, heck no.
I am currently having my first home built, and although they don't have the character that older houses can have, they do have their perks. Not many older houses have 2 story entries and family rooms, rheostats with your fans and 10 ft ceilings. Plus many new houses are energy star compliant which will save you a bundle. I also like the open concept floorplans with large kitchens and master baths you get with new construction.
But new houses tend to appreciate poorly and cost a premium vs. the older ones.
One approach that I found two years ago to work out very nicely was to buy a 25 year old house in a nice cul-d-sac, far from any of the notorious apartment complexes, in Fondren SW area (greatly eggagerated crime by the way). It was a custom build by a physician when it was a new hot neighborhood and he spared absolutely no expenses. Even at that age it's the tightest, most energy-efficient home and just a delight. I've had a full inspection both before buying and for refinancing and the inspectors just raved and raved about how they "don't build'em like that any more". The seller's realtor said it cost $700k in '83 dollars and (apparently) because of the current perception of crime I was able to get for a bit more than half that. In two years I've not even had to call the police for a loud party let alone serious crime. Many of the neighborhoods are patrolled by a retired HPD assistant chief who know the car of every homeowner and questions anyone else - even bugs the handymen and lawmen unfortunately. :-) It takes a little guts and a little humanity to realize that not everyone of color is going to attack you. Most (not all) of my neighbors are West African, African-American (including a famous black architect who designed and lives in the finest home in the neighborhood- a new one btw a couple of years ago - from Louisiana - how's that for Katrina refugee stereotypes!), East and South Asian (lots of Chinese due to nearness to Bellaire-Alief Chinatown up Gessner, Fondren, or Bltwy 8).
I'd be real careful of the late 70s and early 80s oil boom mass-produced tract homes. There were a lot of problems with exploding aluminum wiring and resultant fires and with generally shoddy workmanship and materials. I'd pay a little more for a new one if you're looking for a small inexpensive house. Some of the many custom homes in Fondren SW Northfield, Lakes of Fondren, Frontenac are amazing, though, and selling for well less than construction prices. You can buy a fabulous 45-5500 sq foot mansion with pool on a lake for less than a 3000 tract home in the master planned communities. My only problem was a functional but pretty ugly George Jetson kitchen that we tore out and replaced. Key issue is making sure you're not close to a run down apartment complex with open road access. I'm not going to lie to you that there are no problems in the area but they're very localized and even in the apt's most of the people in them are solid family types that go to church every Sun and Wed for Bible class and work as orderlies, techs, and clerks in the Medical Center, saving up to buy a house or new to the area from La and rural TX.
As long as it's in reasonable shape for its age, I'll take older housing stock than the mass produced stucco and particle board garbage the McMansion makers are throwing together every which way.
70s - 90s is not considered an old home. I was thinking more of 20s - 50s when houses were built like with solid wood and rocks. My parents still have the SAME original roof since it was built in the 1930s. Yours? 15 year limit before things fall apart?
All the oldies but goodies in the Champions area. Most of the homes in Champions, CHampion Forest, Spring Creek Oaks and Forest were built custom by the "originals." (A group of builders that started building out in the SPring/Klein area in the late 70's, several of which are still around.
Many of those homes have stood the test of time and have appreciated in the last few years. One thing to look at though, if you shoot for the early to mid 90s construction, you can often find homes that are in subdivisions that are now established with nice lots, yet have more open floor plans and the high ceilings. Slap in some granite and update the master bath and you've got yourself a new "feeling" house with the older house pros (mature trees/landscaping). Early sections of Champions Park North come to mind when I think of that age range.
Also, if you are willing to spend, there are still custom builders out there. Champion Woods, the Falls, Windrose, and Gleanloch all have custom sections that are new construction.
If you go custom the building and engineering is going to be more advanced and a higher quality house. If you go mass produced tract home, an older home probably is built better.
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