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It really depends on where you are moving. Some areas the older the better and more expensive, other places, people want brand new.
I think what is more important is that you find a house that fits your lifestyle and one that is set up so it's ready should you have mobility issues or is easily adjusted to accommodate those. I would also find one that is as low maintenance as possible to keep down repair and upkeep costs down the road. In know in our area detached townhomes are becoming more and more popular. They are townhomes but only one house, no shared walls, but you get the benefit of having all of your outside work taken care of by the association.
We are probably going to build our next home unless I can find one that has everything I want already built. I love older homes and we have owned several, but they just generally are not set up of people in their retirement years.
oh, and everyone is on a fixed income unless you can print your own money
We'll be moving after retirement in a few years, and since we'll be on a fixed income, I am going to try to save some on purchasing a house. So here's my question. In general, I'm getting the impression, based on prices on realtor web sites, that what is popular is new homes. Older homes, even in good condition tend to not fetch near the price, even though they might be in great condition. Is my assumption correct. From what I've seen on the home shopping TV shows, what people seem to want is move in ready, everything new looking.
The reason I'm asking is that I don't mind a fixer upper at all. I'd actually prefer an 30-40 year old house or older, since the basic construction is usually much better. Are my assumptions correct, and if you think I'm off base, let me know.
Most people definitely want new and if they can't afford that price tag they want old that has been made totally new.
I agree in general older houses have more solid construction, but not always. We bought a retirement home built in 2003 that is one of the most solidly constructed homes I have ever been in and everyone who sees it or does anything to it says the same thing.
It was a custom build that had tasteful high end finishes and also was a vacation home so little wear and tear. But, more importantly, it was built by a builder who resides in the town where he builds and lives and dies by his reputation with the natives. There were other homes similar by him and the other two "best" builders. The differeneces between these homes and those thrown up to meet demand or by builders passing through town are like night and day.
My advice is get to know people in the area and find out who the good/reputable builders are. The native realtors know and at least where I bought people who had resale homes built by these guys advertised themselves as "Builder XYZ" homes.
We'll be moving after retirement in a few years, and since we'll be on a fixed income, I am going to try to save some on purchasing a house. So here's my question. In general, I'm getting the impression, based on prices on realtor web sites, that what is popular is new homes. Older homes, even in good condition tend to not fetch near the price, even though they might be in great condition. Is my assumption correct. From what I've seen on the home shopping TV shows, what people seem to want is move in ready, everything new looking.
The reason I'm asking is that I don't mind a fixer upper at all. I'd actually prefer an 30-40 year old house or older, since the basic construction is usually much better. Are my assumptions correct, and if you think I'm off base, let me know.
As someone who will be retiring in a few years, I can tell you that you won't save money with a fixer-upper. We recently downsized somewhat and bought a fairly new home that still needed a new kitchen, new master bath and some other upgrades. We just completed these things, spending six figures and enduring a fair amount of aggravation (see my other post on what I learned about home remodeling). If you can buy new or something already upgraded to your taste, do it. Otherwise, you'll just end up plowing your savings on the fixer-upper into the renovations.
We did upgrades that typically have the highest returns, so we think we will get more than our investment back when we sell. We got our home at a fairly low price, but if we had to sell today, it's doubtful we would break even.
prefer an 30-40 year old house or older, since the basic construction is usually much better
Not my experience at all.
My 2011 house has 2x6 walls with insulation. My 1983 house had 2x4 walls with insulation.
The windows in my 2011 house have better U-values.
The furnace in 1983 was 80% efficient and 2011 one is 92%.
The 2011 house has french drains under the basement slab which connect to the sump pump. Not so in the 1983 house.
The 2011 house was pre-wired and in-ceiling speakers were installed.
The 2011 house was pre-wired for an alarm system.
oh, and everyone is on a fixed income unless you can print your own money
Amen to that.
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I disagree
