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Unread 03-12-2010, 03:54 PM
 
Location: Boerne, TX
203 posts, read 276,463 times
Reputation: 98
Question House Hunting

As someone who is looking to get out of an apartment and into a housse, I am always searching for news articles and the forums for all things related to buying/selling homes. Having remembered the KB Homes troubles and the current Centex fiasco, I have to ask the question:

Why do so many people build/buy new when there seems to be ample existing homes for sale...especially with so many foreclosed houses waiting?

It seems to make more sense to buy an existing home, especially 5-10 years old, where any issues should have already arisen. Weekly, I check the listings NW of the city (Bandera, Kerrville, Fredericksburg) and see a lot of variety and interesting homes. Beautiful houses with nice lots; perhaps if builders made quality homes on decent lots, I might be interested. However, most homes being built seem to be in tracts where you can shake your neighbor's hand out of your respective windows.
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Unread 03-12-2010, 04:20 PM
 
Location: SoCal-So Proud!
4,263 posts, read 6,471,267 times
Reputation: 1489
Quote:
Originally Posted by EmergencyOps View Post
As someone who is looking to get out of an apartment and into a housse, I am always searching for news articles and the forums for all things related to buying/selling homes. Having remembered the KB Homes troubles and the current Centex fiasco, I have to ask the question:

Why do so many people build/buy new when there seems to be ample existing homes for sale...especially with so many foreclosed houses waiting?

It seems to make more sense to buy an existing home, especially 5-10 years old, where any issues should have already arisen. Weekly, I check the listings NW of the city (Bandera, Kerrville, Fredericksburg) and see a lot of variety and interesting homes. Beautiful houses with nice lots; perhaps if builders made quality homes on decent lots, I might be interested. However, most homes being built seem to be in tracts where you can shake your neighbor's hand out of your respective windows.
Most people buy new because they can get the house for around the same price as a resale. Yards weren't terribly bigger 5-10 years ago..so if you farted, your neighbor is still going to smell it.
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Unread 03-12-2010, 04:26 PM
 
1,933 posts, read 1,522,612 times
Reputation: 1899
Quote:
Originally Posted by EmergencyOps View Post
As someone who is looking to get out of an apartment and into a housse, I am always searching for news articles and the forums for all things related to buying/selling homes. Having remembered the KB Homes troubles and the current Centex fiasco, I have to ask the question:

Why do so many people build/buy new when there seems to be ample existing homes for sale...especially with so many foreclosed houses waiting?

It seems to make more sense to buy an existing home, especially 5-10 years old, where any issues should have already arisen. Weekly, I check the listings NW of the city (Bandera, Kerrville, Fredericksburg) and see a lot of variety and interesting homes. Beautiful houses with nice lots; perhaps if builders made quality homes on decent lots, I might be interested. However, most homes being built seem to be in tracts where you can shake your neighbor's hand out of your respective windows.
Prior to buying our new build, we focused on existing homes and found the prices to be overexaggerated for what we were getting. The homes were sometimes smaller, the layout wrong, very dated kitchens and bathrooms, and sometimes the neighborhood would be nice but you would walk across the street and the neighborhood is a dump....

When you take into considersation of having to place an offer that isn't offensive to the current owner who will hopefully accept and at least 30 to 40K in repairs to make it to the way we want it...we felt a new build would be best for us.

At the end of it all buying a home is not a choice made on a whim and it is personal preference. I also speak from experience as a real estate agent in two of the worlds toughest markets. Many people want to be able to move in and not worry about any work to be done on the property.

Last edited by CD's Only Mrs. X; 03-12-2010 at 04:27 PM.. Reason: typo
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Unread 03-12-2010, 05:00 PM
 
Location: New Braunfels, TX
3,955 posts, read 3,688,575 times
Reputation: 3075
We chose to build because we couldn't find any existing that fit what we wanted - 3 bedrooms w/office, formal dining, single story, island kitchen, double oven, skylights, 3-car garage w/windows.....and a VERY large yard. We found ours as a new subdivision was just opening, the builder is semi-custom, so he did everything we wanted - and our lot is a half-acre in size. Personally, I'd have loved to have found an existing home - because in the range we were looking, there were deals to be had - but nothing worked for us.
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Unread 03-12-2010, 09:22 PM
 
Location: San Antonio
2,245 posts, read 3,026,326 times
Reputation: 1434
To answer your bolded question, OP: Personal preference. Some people like brand new builds; others like "used" homes. I belong firmly in the latter group. We didn't even consider building new.
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Unread 03-13-2010, 08:21 PM
 
Location: Boerne, TX
203 posts, read 276,463 times
Reputation: 98
Quote:
Originally Posted by TheOriginalMrsX View Post
Prior to buying our new build, we focused on existing homes and found the prices to be overexaggerated for what we were getting. The homes were sometimes smaller, the layout wrong, very dated kitchens and bathrooms, and sometimes the neighborhood would be nice but you would walk across the street and the neighborhood is a dump....
That is a very good observation. A co-worker of mine noticed this regarding homes in Fredericksburg. It does take a lot of searching to finally find a great home that fits your needs, and sometimes it is off the market before you know it.

Thanks for all the great answers.
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Unread 03-13-2010, 08:48 PM
 
Location: Northwest side of San Antonio
2,664 posts, read 3,243,932 times
Reputation: 1349
While I love older homes (even older than 10 years) buying a new home is like buying a new car in some aspects. Builders throw in incentives that older homes don't offer.

If I could get a 2.0 APR on a '10 Jetta with zero down payment I'll sign on the dotted line...whereas an '09 Jetta could be a bit less sticker wise but in the longer run I'll be paying more because the loan isn't for 36 months it's 72 and I didn't offer a down payment. Oh, and this is my first car so I have no trade in.

It's the same with homes. One of my friends looked and looked and looked for a first home and recently settled on Armadillo because they offered a great loan and to pay closing costs which she couldn't do with any pre-existing home.

You weigh your options. Sometimes the best is the new option, not the old.
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Unread 09-18-2010, 01:37 AM
 
2 posts, read 2,661 times
Reputation: 10
Yes i agree with EmergencyOps, this is one of the biggest reason why there is need to buy a home. Everybody wants a soothing life.
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