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Old 01-31-2018, 08:18 PM
 
Location: Here and there, you decide.
12,908 posts, read 27,980,195 times
Reputation: 5056

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New construction is an immediate loss. Buy an existing home
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Old 02-01-2018, 02:19 AM
 
55 posts, read 49,830 times
Reputation: 80
There was a murder at the Aspire apartments in Spring Valley today - drug deal....
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Old 02-01-2018, 08:22 AM
 
9,480 posts, read 12,285,664 times
Reputation: 8783
Quote:
Originally Posted by airics View Post
New construction is an immediate loss. Buy an existing home
Good point. Plus if you go to sell and the neighborhood is still building up, your "used" house is competing with brand new ones.
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Old 02-01-2018, 11:02 AM
 
30 posts, read 21,086 times
Reputation: 33
Quote:
Originally Posted by airics
New construction is an immediate loss. Buy an existing home
Quote:
Originally Posted by ElleTea View Post
Good point. Plus if you go to sell and the neighborhood is still building up, your "used" house is competing with brand new ones.
Yeah, I've thought about that. Buying a new home and selling it after only a few years is definitely not a good idea but I think its ok if you stay there for over 10 years or more. I looked at a few resale homes but I'll need to spend some money for renovations and at the end its still an older house. New constructions you are definitely paying a high premium but there are many advantages that goes along with it. I guess I'll see. I'm still open to either one whichever makes more sense but I've made up my mind on a single family home. No condos or townhouses for me.
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Old 02-01-2018, 11:12 AM
 
Location: Lone Mountain Las Vegas NV
18,058 posts, read 10,335,750 times
Reputation: 8828
Quote:
Originally Posted by MyCitiData View Post
Yeah, I've thought about that. Buying a new home and selling it after only a few years is definitely not a good idea but I think its ok if you stay there for over 10 years or more. I looked at a few resale homes but I'll need to spend some money for renovations and at the end its still an older house. New constructions you are definitely paying a high premium but there are many advantages that goes along with it. I guess I'll see. I'm still open to either one whichever makes more sense but I've made up my mind on a single family home. No condos or townhouses for me.
Actually the way it appears to work is the builder gets a premium of 15% or so. You can always sell but for the next 3 to 5 years the selling price will remain about what you paid for it. So basically your new build does not appreciate until you eat the builder premium. And you will remain at a disadvantage to the same sum put into a resale for some years.

Note that new build also generally requires a large expenditure on purchase. Things like landscaping and window treatments can easily cost as much as upgrading a resale..

Perhaps the sweet spot is a resale 3 years or so old. Someone has eaten the builder premium and the initial cost of a new build while the home is still new enough that little else is needed.
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Old 02-01-2018, 11:19 AM
 
Location: Paranoid State
13,044 posts, read 13,858,996 times
Reputation: 15839
Quote:
Originally Posted by Winter Sucks View Post
Cleveland, Ohio
I always thought the only people who voluntarily lived in Cleveland were in the Federal Witness Protection Program.
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Old 02-01-2018, 11:22 AM
 
Location: Paranoid State
13,044 posts, read 13,858,996 times
Reputation: 15839
Quote:
Originally Posted by lkmax View Post
... it could just be a chronic complainer...
Wait. There are chronic complainers here on C-D?
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Old 02-01-2018, 12:00 PM
 
Location: Paradise Palms, Las Vegas, Nevada
555 posts, read 1,258,729 times
Reputation: 712
Quote:
Originally Posted by diversityrules7 View Post
There was a murder at the Aspire apartments in Spring Valley today - drug deal....

No there wasn't. It was here:

Man found dead with gunshot wound in west Las Vegas apartment co - FOX5 Vegas - KVVU
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Old 02-01-2018, 12:02 PM
 
716 posts, read 556,863 times
Reputation: 1869
Quote:
Originally Posted by SportyandMisty View Post
I always thought the only people who voluntarily lived in Cleveland were in the Federal Witness Protection Program.
I didn't choose to move here. I was born here.
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Old 02-01-2018, 07:10 PM
 
2,719 posts, read 3,489,189 times
Reputation: 1633
A brand new house beats a resale house anytime if I have the money. Just the thought of living and a having a clean new house is enough for me especially knowing it will be a long time residence. If may be different for those only here in town for a few years trying out if they can make it here.
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