market for older homes not good? (Atlanta, Roswell: for sale, apartment complex, home builders)

[Go Blue 99]

Someone told me that buyers in Metro Atlanta are all about new construction, and that older homes are tough to sell. Is this true? I thought I had heard newer construction is usually shoddy (but I guess that depends on the builder quality).

[LauraGibson]

We sell older homes all the time. In my area that translates to larger lots, beautiful mature landscaping, great neighborhoods, wonderful schools. The buyer of an older home has to put up with smaller master bedroom/bathroom, maybe some updating, if the owner hasn't done it already. I think it translates into lifestyle choices a buyer is looking for. And there are plenty who want the older homes.

[jxu66]

People in Atlanta do prefer new home (around 40% of house sold new) and there are new housing being build daily. However, since new house costs a lot more than even a house build a couple of years ago, it is relative bargain to buy an older house in the desirable neighborhood.

I think that the answer is depend. It is desirable neighborhood (in some of neighborhood, Roswell for example, all houses are "old"). It is not a problem. In other neighborhood, if the house is in 1980 or before, it is a little more difficult to sell since the house tends to be smaller and lacks some modern convenient. It is strange to say this but my parent bought a house in MA that was built in 1930s. That house was consider "new" in that neighborhood. I guess that anything is relative.

One thing is that home builders don't build the house as they used to be. A lot of houses build fifteen years ago in Atlanta has issues. A friend of mine bought a house in NorthView High School district (probably worths 450s at least) about ten years ago. They spent quite a few dollar fixing plumb and others since then.

[atlantagreg30127]

I work for a construction-related company (we provide certain items for homes) and can tell you that indeed a fair number of newer homes in the metro area are not built to what *I* would call "good standards". Not ALL of them mind you... there are some developers and builders who still have high standards, but they're becoming outnumbered by those who cut costs and take shortcuts, especially in the sub-$300,000 price market.

Still, I've even seen $450,000+ homes that have creeky stairs and floors, as well as cracks around doors before new owners even move into them. The worst are the developers for apartments - horrible now. Every-other day there's a big fire in some apartment complex and an entire building goes completely up in 15 minutes. That never happened years ago in the older buildings.

Older homes are in demand so long as the owners have bothered to update them (which not everyone does). I live in a neighborhood of mid-1960s brick ranch homes on 1 acre lots, surrounded by new subdivisions. If one of ours goes up for sale it sells much quicker than the new homes do, again, provided it's updated. A lot of these homes though are still being lived in by now older folks who were the original buyers. The bathroom sinks and tubs, tile, and kitchen cabinets are ORIGINAL to the mid-60s (think "Sunflower Yellow" and "Avocado Green"). They also may not have kept up on plumbing or electrical issues as well, and buyers will run from that.

So yes, nice sturdy older homes ARE in demand here - it's just that not a lot of them have been updated to meet the demands of those looking for them. Buyers want the construction quality and lot sizes of the older homes... not the Sunflower yellow stove and Avocado green tub.