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Old 09-18-2009, 12:09 PM
 
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Just curious if the energy costs were really a lot less in a brand new home compared to an older home. When do things normally start happening...ie heat pump, HVAC, and the like. If you buy a brand new home and expect to sell in 10 years, what kind of repairs would you be expected to make over 10 years. We are going to buy in the spring, have 20% down and have 6 months savings after the downpayment but may start a family soon, so we wouldn't want to end up paying a load on home repairs the first 5 years of home ownership. I know when you buy a brand new home you have to buy appliances, blinds, etc. We are prepared to do that...but it seems like a home built in 2006 to 2007 may be a better deal because they already have those things? Thoughts?
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Old 09-18-2009, 01:13 PM
 
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Given the chinese dry wall disaster, I won't consider anything built after 1998.
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Old 09-18-2009, 01:30 PM
 
Location: NE Gwinnett
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Given the housing crisis, I wouldn't buy anything built in the last 5-7 years. Alot of new subdivisions are sitting empty or not finished out because builder went belly up...
And alot of the finished ones may have alot of foreclosures (which depresses property values) because the homeowners took out crazy loans.

If you do buy a newer home, try to find one in a finished neighborhood with all the promised ammenities. And that there's not a lot of homes for sale in the development. In this market, more than ever, look for a stable neighborhood.
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Old 09-18-2009, 01:46 PM
 
Location: Fuquay Varina
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I think overall a newer home will be more efficent than an older home. I think they are better with insulation and energystar stuff now than they were in older homes.
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Old 09-18-2009, 01:47 PM
 
Location: Just south of Denver since 1989
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Newer homes are more energy efficient.
All house should be inspected.
Think 10% of house payment for repair bills each year.

I have had three new fridges in 7 years. I paid for 2.
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Old 09-18-2009, 02:19 PM
 
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This one will really get me going. I am amazed at the cheap crap builders are producing. I just viewed some homes in a 3 year old subdivision that is still under development. As soon as I pulled up, I thought "disposable plastic homes" I went in and viewed the home and while it sure looked pretty, upon further review, one could tell it was all slapped up.

As I left the subdivision, I drove through the first homes that were built and just three years old. I could see sagging roof lines, waives in the roof sheathing, rotten trim boards and siding that was not fully adhered to the side of the home.

These slapped up homes look great for about 2 years, then you will have to continue to dump money in them. Cheap, cheap, cheap!
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Old 09-18-2009, 02:22 PM
 
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I have not seen ANY evidence that suggests there is any "magic formula" the universally applied to GENERALIZATIONS about brand new home, those that are only a few years old, and those that were built further back in the past.

The QUALITY of the furnace / HVAC / heatpump can be determined by a very detailed home inspector, some of whom will go so far as to lookup the repair history of specific brands / models.

Basically ANY home can have a 'home warranty' put on it to limit your out of pocket costs.

If you want a REAL energy audit that will give you an accurate idea of the condition of the insulation and other energy savings features of ANY HOME you should pay for that on your own, as there are many homes that claim to have been built with energy savings in mind however this proves not to hold up to scrutiny. Energy saving is not something that was dreamed up recently -- 35 years ago the Oil Embargo made a lot of people rethink how they were managing energy in homes and well before then smart architects were designing features into home that would make them comfortable in the climate they were built. The traditional "sleeping porches" common in portions of the South are great way to get out of a hot stuffy bedroom. The double entries in traditional homes in some northern climates made it harder for cold winter air to rush in when guests would enter or leave. Big windows with appropriate overhangs have been a feature that lets homes take advantage of natural light in the winter and not overheat in the summer.

Without seeing the actual home you are considering you will not know if the decorating items that are included will represent a better to YOU than a home that is "naked".

The desire to make a place "your own" is hard for most folks to resist and it is equally common for new homeowner to blow their budget on brand new homes, middle aged homes and older homes...


All good questions, these are things that YOU will need weigh when you are faced with houses that may be similar in price but different in the TRADE-OFFS you are willing to accept!
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Old 09-18-2009, 02:35 PM
 
Location: Boise, ID
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My parents are builders and we built my house in 2003, so it is now 6 years old. The only repairs I have had have been appliance related. I had a compressor go out in my fridge about 6 months ago, and a heating element in my dryer went out yesterday. Between the two, that is less than $600 in repairs, other than that, I've only had normal maintenance costs. I would estimate an average of $200/year total repair/maintenance expenses, a bit more if I include landscaping maintenance. My annual house payment is around $9000, so that's only 2-3% of housing payments for both repair and maintenance. If I only include repair, then I'm only at about 1%. So new can be very inexpensive. My new home came move in ready, including all appliances and blinds.

I agree with what MCM said, that you don't want to buy in a big subdivision with 4 houses in it, or you will have dirt for neighbors for a while. Along that line, buying a home that is a couple of years old will get you a little more mature landscaping. Keep an eye out for neighborhoods that are half rentals or half vacant, and keep away.

An older home that has had a hefty remodel can be a good choice. If everything that has worn out has been replaced, it should last similarly to a new house. And if the insulation, windows, furnace etc have been updated, the energy efficiency would be ok.

The problem is that you can't gauge repairs by the age of the house, you have to go by the quality of construction and the condition of the house. ON AVERAGE, you are going to have fewer expenses over a 10 year period going with a new house. But a poorly built new house is going to have more repairs than a well built house 50 years old that has been properly maintained. A well built, new house from a reputable builder is going to be the most energy efficient, least expensive and most worry free.
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Old 09-18-2009, 03:21 PM
 
1,369 posts, read 2,094,128 times
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Quote:
Originally Posted by WilliamHarman View Post
This one will really get me going. I am amazed at the cheap crap builders are producing. I just viewed some homes in a 3 year old subdivision that is still under development. As soon as I pulled up, I thought "disposable plastic homes" I went in and viewed the home and while it sure looked pretty, upon further review, one could tell it was all slapped up.

As I left the subdivision, I drove through the first homes that were built and just three years old. I could see sagging roof lines, waives in the roof sheathing, rotten trim boards and siding that was not fully adhered to the side of the home.

These slapped up homes look great for about 2 years, then you will have to continue to dump money in them. Cheap, cheap, cheap!
I would be very wary of anything built during the boom - developers were throwing houses up as fast as they could and that might mean poor quality.......not to mention the drywall issue...........

Whatever you choose, a thorough inspection is absolutely a must.

And don't forget the foreclosure issue in some developments/sub divisions...........

There is NO WAY I'd be buying on an unfinished development.

You could end up living in a half-finished, deserted home graveyard.

As MCM said, look for a stable neighborhood. Which may well be an older neighborhood.
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Old 09-18-2009, 03:30 PM
 
Location: Boise, ID
8,047 posts, read 25,747,972 times
Reputation: 9390
Quote:
Originally Posted by WilliamHarman View Post
This one will really get me going. I am amazed at the cheap crap builders are producing. I just viewed some homes in a 3 year old subdivision that is still under development. As soon as I pulled up, I thought "disposable plastic homes" I went in and viewed the home and while it sure looked pretty, upon further review, one could tell it was all slapped up.

As I left the subdivision, I drove through the first homes that were built and just three years old. I could see sagging roof lines, waives in the roof sheathing, rotten trim boards and siding that was not fully adhered to the side of the home.

These slapped up homes look great for about 2 years, then you will have to continue to dump money in them. Cheap, cheap, cheap!
Yeah, that would be an example of poorly built new homes. Doesn't mean that is representative of all builders, but it is important to look out for.
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