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New construction isn't synonymous with builder grade and it would be helpful to the discussion if people stopped claiming that it is. Most of the people in my new construction neighborhood put significant upgrades into their homes during construction. That's part of why our homes have appreciated 20%+ in the 2 years since we all built them.
New construction isn't synonymous with builder grade and it would be helpful to the discussion if people stopped claiming that it is. Most of the people in my new construction neighborhood put significant upgrades into their homes during construction. That's part of why our homes have appreciated 20%+ in the 2 years since we all built them.
Well mine appreciated too. It's called location/hot market. Unless you put in an upgraded system, then yes what you get is "builder grade" and that's exactly what we got. We didn't get a standard house but we (wisely) didn't upgrade to the hilt either. Both our AC units died in less than ten years and the water heater in under six. HVAC personnel told me that the units failed due to being undersized for the home and being Carrier's builder grade units. Yes, I suppose we could have spent an additional 15k for an "upgraded" Puron system, but let's be real here - people think new construction inherently has better things and that's not true either.
There's a reason why the new house is the same price. It's farther out. The older home in all likelihood will be valued more due to its location. I'm a woman, and I know about the "happy wife, happy life" thing, but there must be a compromise. My husband let me make the decision with our prior house and after three months I realized that i should have listened to him. If I had listened to him, I think we would have chosen a better home but no! I was besotted with the prospect of new construction. Our current home purchase was a joint decision, as it should be. It takes two to tango. If you don't like the location and you'll be the one with the longer commute, don't be a shrinking violet or a martyr.
New is overrated as far as I'm concerned. Builder grade appliances and systems can fail in less than ten years. The home warranty is akin to a sprig of parsley on a dish - no real value but looks good.
No builder grades in custom homes. Many times, you can also pay for upgrades and get rid of the builder grade.
10-15 years old houses aren't exactly the height of quality mass construction. That was during the housing boom, when houses were going up quickly. Not every house was built great in that era and they may be due for some costly repairs or maintenance.
I think it is more important to buy in a good school district for the sake of your kid's education, and for resale value for you later on. I'd zero in on areas with good schools and see what you can afford. I think deciding you want a new home right off the bat, or deciding you want an older home, is not the way to think about your problem.
Make your decision based on the kind of life you want your family to have in the near future. You can make any decent house a home. You can learn to do stuff around your home. All of us here started from scratch and learned as we went. You can too.
And, there is this: most of us don't ever live in our dream home. But we learn how to make a home where we are. The home doesn't make us happy; making our home, makes us happy.
You are screwed.
Enjoy your higher mortgage payment.
Don't forget to save up money every week for your Home Depot/Lowes visit.
Yep, it's happening.
OP, bless your heart, you have a tough row to hoe, knowing that your wife probably has a Pinterest board FULL of home decorating ideas she is dying to try.
New construction isn't synonymous with builder grade and it would be helpful to the discussion if people stopped claiming that it is. Most of the people in my new construction neighborhood put significant upgrades into their homes during construction. That's part of why our homes have appreciated 20%+ in the 2 years since we all built them.
You are better off doing the upgrades after construction. If you buy through the builder you pay a huge premium. They often make more profit on the upgrades than on the house itself. If you wait, you can research the best products, best value and best prices. Among other issues, if you get them through the builder, your have a coice of 1 -3 products for any given application where doing it on your own, you have a choice of hundreds or thousands of options. Builders do not offer the "best" product for any given applicaton, they offe the one that gave them the best bulk deal so that can make more profit on the upgrade. Then pay a handyman or small contractor to install it, or DIY. You do not get any real credit for the builders grade stuff that you replace when you do upgrades through the builder/developer. There is no significant savings for them. They will show a credit on an invoice, but it really is not there (a tiny bit, but no where near the difference you pay between buying the materials yourself and having them install it.
I prefer new as I want it as I want it and I will pay for such. I would consider something 10-15 years old realizing as that age, things will soon need replacing like roofs, hot water heaters, AC, etc.
No builder grades in custom homes. Many times, you can also pay for upgrades and get rid of the builder grade.
I was really thinking about mostly tract homes, but many custom homes have builder grade stuff. No different than production builders. It all comes down to if you're willing to pay more or not. I'd like to think though that the custom homes would have better systems, even if builder grade, that last more than ten years. Within a year of each other, our builder installed AC/heat units had to be replaced. That's unacceptable. Same thing with the water heater. That had to be replaced in 5.5 years (just outside of warranty). Maybe we were just unlucky.
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