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Agree that LIers are badly hurt by the corruption of Nassau as well as Suffolk. LIers also have the cost of pensions to the civil service workers which is why I can’t blame people for the mass exodus especially the middle class guy who values family life and just wants a yard and a safe place. My aunt is still in Hicksville at 93 and will not sell till she dies which is the old time LI spirit plus she likes Ikea..if u know the area it will make sense.
I just don’t see the premium for certain places here especially new construction such as Lake CastleBerry,Bella Casa,Buckhorn or Blakely....if you can find a resale I think your better off.
let's say 30% of Buyers in a general geographic area (let's say Western Wake) "demand" new construction, but only 20% of the homes are new construction.
Then the new builders, especially the tract builders who own the large swaths of land, can raise their prices without doing anything to the quality of the home. Because once geography is settled, then "new" is the primary criteria, followed by "size" and then "lot size " (small seems preferred, less upkeep).
I ask mostly because while it would be nice to have an all new home, I realize as a homeowner how builders build homes and the materials they use are mostly fairly cheap and low grade, even in "nicer" homes.
A year or two ago I toured a 450k home on 1/3 acre lot, and while not the *nicest* home in the world, I could see cheap materials everywhere. The carpet, the cabinets, the paint, even the fixtures and light bulbs.
The nice thing about buying a "used" home is 1) most of the bad stuff like settling has mostly occurred and 2) if the owner has replaced things, most likely they are upgraded from basic builder grade stuff. As an example, my home came with barely legal R15 or something in the attic...today it's R45. New roof - basic builder grade crap shingles, I'm paying an additional $800 for the upgraded heavier shingle with 25 year labor and material warranty (transferable) which is peanuts when you're already spending that much. HVAC - brand new consumer grade w/ 10 year warranty vs the builder grade stuff put in when built. Appliances...builder grade low end stuff replaced with mid-level consumer grade stainless steel. Trim/paint - painted in the lowest builder grade paint available "white" trim was yellowish...I did two solid coats of semi-gloss paint. The walls soaked up every bit of paint on the first coast of respectable paint...I put two on. If it's repainted, it will be easy (one will probably do).
Heck I even brought it 4" of top soil across the whole yard vs the scraped off clay that existed before.
And let's not even touch the fact that there are actually trees and mature landscaping. That's worth a lot of time when it takes a decade or more for a tree to grow even a little bit.
Agree that LIers are badly hurt by the corruption of Nassau as well as Suffolk. LIers also have the cost of pensions to the civil service workers which is why I can’t blame people for the mass exodus especially the middle class guy who values family life and just wants a yard and a safe place. My aunt is still in Hicksville at 93 and will not sell till she dies which is the old time LI spirit plus she likes Ikea..if u know the area it will make sense.
I just don’t see the premium for certain places here especially new construction such as Lake CastleBerry,Bella Casa,Buckhorn or Blakely....if you can find a resale I think your better off.
Agree with all "the old LI spirit" LOL) ....when people move here from the north if they aren't fully committed to the move they need to show everyone the bright shiny new house they bought.
I just bought new construction (should be completed near the end of the year) because I am in no hurry to need a house as I have a current lease, and I did not want to get into a bidding war the way things are around here lately. I am 100% happy with my purchase.
Agree with all "the old LI spirit" LOL) ....when people move here from the north if they aren't fully committed to the move they need to show everyone the bright shiny new house they bought.
well, I know nothing about LI, but I'm guessing based on feedback there's definitely the "you won't believe what you can get for your money down here - and it's a NEW house, not 40 years old" feeling that's prevalent.
well, I know nothing about LI, but I'm guessing based on feedback there's definitely the "you won't believe what you can get for your money down here - and it's a NEW house, not 40 years old" feeling that's prevalent.
The old "I'm going to take my house/tax payment from up north, start fresh with a 30 year mortgage, and buy as much house as I possibly can so that I have the same monthly payment"
No wonder we have so much overpriced mcmansion new construction.
well, I know nothing about LI, but I'm guessing based on feedback there's definitely the "you won't believe what you can get for your money down here - and it's a NEW house, not 40 years old" feeling that's prevalent.
Yes, and 40 would be new on LI. Difference is those houses are all pretty solidly built (if outdated and ugly) while the new houses here....well I think we all remember the house that blew down in the framing stage in Brier Creek a few years ago during a severe thunderstorm. My BIL is a retired GC and he was like OK there goes any idea of ever buying a newly built house here.
The other thing is - everyone moves here from up north from a house that has a laundry list of updating and they just don't want to deal with it here so they buy new. I get it.
The old "I'm going to take my house/tax payment from up north, start fresh with a 30 year mortgage, and buy as much house as I possibly can so that I have the same monthly payment"
No wonder we have so much overpriced mcmansion new construction.
Have friends here that did just that. Moved here from the Boston area about 14 years ago and bought way more house than they needed and paid more than asking (had to be a rarity back then) and then had immediate buyer's remorse. Paid more than anyone in the neighborhood ever did up till about 5 years ago when prices surged. They were relocated so I'm sure the free trips here plus the moving expenses being paid made them more confident but from the time I met them 10 years ago all they did was freak out about when prices were gonna "come back" and when they could get out from under in that house (didn't stop them from paying $10K for patio/firepit, $25k for a screened porch and finishing the attic along with new windows, hardwoods etc) When all was said and done they took a loss although since they got more than they paid I know they don't see it that way.
I always enjoy reading about the prices of homes in other regions, especially where home prices are demand driven versus cost to build pricing. And I'm downright appalled at the property taxes assessed, especially when I never politicians to be good stewards of the public's tax funds. Building in the Boston area appears to come with substantial regulations too.
We bought a 3905 square foot 12 year old home in October that's reconditioned to new condition. The cul-de-sac lot is .9 acres, and the backyard is 220' wide and completely fenced (wood.). The main part of the home has 19' ceilings and it's trimmed out very well. We paid $354K. We've since added a swimming pool and elaborate concrete decks.
The county property taxes are $1,100 per year. But since my wife was disabled at 52 years old, we have no property taxes.
The low cost of living allows us to keep a lake home an hour away assessed at $386K. My property taxes are $1,100 there too. And our next door neighbor is a Gordon College professor from NE Boston. He loves his 6 mile over water sunset view.
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