If You Were Moving To Tucson And Were Buying New (Pima: real estate, tax)

[Vision67]

I understand the attraction of buying a new house. I've done it 3 times; in 1975, 1983, and in 1992. You get new everything! What's to not like?

Back then, the premium for new over used was about 20%

But now, it seems a lot more. In Colorado Springs, it's now above 50%.

In Tucson, homes don't appreciate much. I'm guessing what drives that is people who move there to retire and insist on a new house. When they eventually check out, their heirs inherit a place to sell. That creates an excess supply of used houses.

What is that premium now? For example, say I want a 2000 sq ft sfh on a city lot, e.g. 0.2 acres in Oro Valley.

How much more does a new house cost over a 10 year old house?

[Slytrix]

Vision67 IMO that's a hard question to answer especially for me.

I have owned a bunch of houses some new some old. If you can find precisely what you are looking for in a resale then yes, you could save some money. Unfortunately a lot of people, again only my opinion, have bad taste and actually screw houses up. Not only with bad paint jobs that they get all over the flooring and cabinets but just ugly flooring selections not easily changed. Then there are 10 year old appliances and HVAC systems that will need replaced sooner than those in a new home. Etc. etc.

[shpitz]

Vision67, i beg the differ: we looked at used homes for almost a year in OV. Many of them were built in early 2000's, and the house did look like it was stuck in 2000. There were no upgrades made, many still had carpets galore, many had gold-plated fixtures, kitchen looked outdated (some even had the disgusting tile counter, yuk).

Yet, the owners listed them in the $450k-$500k range. Give me a break. The reason is though, many are probably upside-down on it since many were purchased in the glory days of real-estate, 2006-2007, so I understand where they are coming from. But the market is still not there.

With a new build I got exactly what i wanted, with all upgrades galore, for the same price as a used one.

We just didn't see any value into buying used, a new one was a much better deal.

Also, don't forget that with time houses are becoming more and more efficient, that should be another factor as well. SEER 14+ a/c, HERS rating in low 60's (some are high 50's), some builders now use spray-foam for insulation (Meritage does, not sure about others), so there is an advantage going with a new build other than the price alone...

This is from our own experience in a specific area, YMMV...

[Vision67]

Shpitz: So you don't like tile counter tops, gold colored fixtures, or carpet. I get that. But those things are easily updated. Sellers should do that themselves.

If the sellers price too high the property sits. A good Realtor would give the sellers a reality feedback session. However, I've also met stubborn sellers. In reviewing the listings I've found some 10 year old properties in Tucson where the price is still under water. Those sellers may be trapped.

If I return to Tucson, I think I'll first rent for a year.

Thank you for your insight.

[shpitz]

Originally Posted by Vision67

Sellers should do that themselves.

Did you mean 'Buyers'? That is not a problem, but you can't charge me a premium as if your house doesn't have carpets galore, doesn't have fixtures and appliances stuck in 1999, and the kitchen looks dreadful

Another thing we didn't like with the 2-story houses that were built 15+ years ago was the fact that the 1st floor ceiling was very low, maybe 8 ft, and many had their kitchen ceiling even lowered to about 7 ft.

Not our cup of tea...

[Slytrix]

Yep, those 8 foot ceilings don't do it for me either. I actually raised the ceiling to 10' in our current house. Don't want to do that again.

BTW I have torn out tile counters and replaced with granite, it is not that easy. Neither is chipping up tile flooring that is unattractive.

[sickofIL]

We bought in the western Foothills and love it. We have great views of the mountains and have a great view of the city at night. (we are above it) It is dark--very few lights anywhere. The lots are 1+ acres. Homes all ages. Ours was built in 1997 but stills seems new to us. It was in around your price range. We are close to most things with the feel of living in the country. If you want to build, there are still lots for sale as well.

I would be careful with spray foam insulation. There are still some huge problems with it. If it isn't sprayed correctly it can pose major health risks. There are some that needed to have it removed at unbelievable cost. If done correctly however, it is far superior to anything else. Although I don't know how to be certain that it is dome correctly.

Just my 2 cents.

[Slytrix]

Originally Posted by sickofIL

We bought in the western Foothills and love it. We have great views of the mountains and have a great view of the city at night. (we are above it) It is dark--very few lights anywhere. The lots are 1+ acres. Homes all ages. Ours was built in 1997 but stills seems new to us. It was in around your price range. We are close to most things with the feel of living in the country. If you want to build, there are still lots for sale as well.

I would be careful with spray foam insulation. There are still some huge problems with it. If it isn't sprayed correctly it can pose major health risks. There are some that needed to have it removed at unbelievable cost. If done correctly however, it is far superior to anything else. Although I don't know how to be certain that it is dome correctly.

Just my 2 cents.

Thank you

Can you give me a couple cross streets of where you are talkng? Could be worth it to build, not sure. I would be interested in knowing a steet name if you see a lot for sale.

[Slytrix]

Can anyone share the property tax rate on new home communities in Oro Valley and others?

Are some of the older 5-15 year old homes less property tax?

[TimAZ]

We live just north of Vail on the east side of Tucson, outside the city limits. Property taxes are roughly 30% higher than our old haunt in Colorado. Our place cost $250K and they are hitting us for $3600 a year. They reassess every other year so it will probably come down a bit, but still high IMO.