Would you buy an older (1950s-70s) home or a newer home 2000+ (apartment, houses)

[annerk]

Those 1960's-1970's homes in Clifton Park were very, very well built. Super solid, hardwood throughout, good floor plans. The newer ones, not so much.

[Ellwood]

Originally Posted by annerk

Those 1960's-1970's homes in Clifton Park were very, very well built. Super solid, hardwood throughout, good floor plans. The newer ones, not so much.

The building, of course, depends on your builder. We are very fortunate that our house was done by an extremely meticulous small family owned business. Our house is very energy efficient and well-built.

[ckhthankgod]

Here are listings of homes built in 1990-present for sale in the area: RealtyUSA - Property - Property-List

[sarchivist98]

If buying an older home, I would actually go for one built in the 1950s or earlier. They tend to be much more solid than those that come after and buyers also love the little extras that are in the older homes, such as stained glass, built-ins, book cases.

If you were staying long-term, I would definitely say go with the older home since they hold up better than the slap-dash stuff put up in recent decades. However, since you only plan to be here a few years, new construction may be the way to go. It will likely mean less maintenance than an old home, and you won't be in it long enough for it to start crumbling around you, as homes in newer subdivisions are wont to do. Newer homes in Bethlehem and Niskayuna usually sell in a snap if they are not too big - less than 2,500-3,000 square feet. Bigger than that, and they can sit for a long time in this uncertain economy.

[VA Yankee]

Some factors I would look at:

- Older homes tend to feel heavier/stronger which by design they are.
- New homes (post 1970's) although lighter in design start to be more efficent with better insulation, mechanical systems,
windows etc.
- Older home neighborhoods have a higher mix of empty nesters / seniors than new developments which tend to attract
young families.
- If you anticipate selling in under 5 years will you be competing against phase x that is being build in your subdivision? Many
new communities can take 8-10 years until they are built out.
- If the home was built in the 70's check for aluminum wiring and avoid it like the plague, can be very dangerous.

With any home make sure it is right for you, older homes may require updating to get it how you want ; is it worth it? New homes have more open layouts but potentially less personality or details as many like. Good luck

[cooks2010]

Thanks everyone for the input. I am going to look at a 3bedroom at waters view apartments (cohoes), a new apartment complex in north greenbush (stonegate) this weekend and a few houses in Glenmont/Delmar. Will be deciding soon.

cooks.

[Anamandy]

I agree about Clifton Park. Besides being a nice area you never hear much in the way of crime there. Saratoga, Troy, Albany areas are becoming out of control.

[cooks2010]

Well we decided to go for the new apartment in north greenbush, its a 3 bed/2 bath ($2020/month). It's close to major highways, library, farmers market, shopping and best of all 15min to work. It also had the amenities we were looking for in a house but couldn't find in a house (including...stainless steel appliances, granite counter tops, his/her bath sinks, shower, large walk in closet, lots of storage, washer/dryer on first floor, and large windows with lots of light!!!). Also, there's cell phone signal, some sub-divisions we saw had no phone signal (ATT), which we thought was strange, because the areas were popular dense suburbs.

I think because we are not planning to stay here long, a house would have made it difficult for us to wrap up and leave quickly. Our Realtor mentioned that in the current market, it takes around 6 months- 1yr to sell a house in the albany area (for houses < $300K) , if its higher than 300K, then it takes longer.

Thanks for everyone's suggestions.
cooks.

[ss20ts]

Originally Posted by cooks2010

Hi we are trying to decide between buying an older home (<80s) versus a newer home (2000+). Our major concern is resale value. We are only planning to stay in this area for 2-3 years. Would you buy an older home with upgrades or a newer home with basics in a major suburb (not a rural area)?

Cooks.

To stay for 2-3 years, I'd probably look at renting a house. You won't be in a house long enough to gain any real value. But if you really want to buy, I'd go with an older home. In general, they cost less. Many areas have lots of new construction and it's almost impossible to sell your home what you paid for it and compete with new construction. Most developments take 10 years - some have taken much longer - to complete. The builders will almost always offer more for less than you can.

Remember you can paint anything. You can replace windows, doors, plumbing, and electrical and add insulation. You can't change location! So find somewhere you'll want to live for 20 years. Why that long? Because others will want to live there as well and selling will be easier.

[Zyll]

Yes, always get an older home 50s to 70s, is the best, you can get. These are modern (open), but built traditionally. Anything that the builder did wrong/cheaped out on, has happened already and fixed usually. The house has usually been updated by now, landscaped and modern as a new house, even with the original structure and wiring. It is made of solid wood not the pressed wood and glue, that will burn faster, fall apart if it leaks and you will have structure problems in the future with the light construction they use now. Hardwoods are usually included in pre 70s houses. A used house is always cheaper. Just updating the windows and insulation, is another thing that needs to be done. Once these houses have the updates, they are pretty much new again and also look it as well!! People still live mostly the same as when these were built, just we don't need 2 living rooms anymore Avoid, pre-50s houses, you get lack of building codes, old foundations (with water), wiring, no sheetrock, insulation. Think of the era the house was built, if things were good, the house may be built better.