Just Don't Build Them Like They Used To

Newer is always better, right?  Or Shiny Objects Can Be Pretty . . . Expensive.

Back in May, Trulia determined that new homes cost roughly 20% more than similar existing homes.  As an experienced agent I would not say this is true for all homes, depends on the builder and what we are comparing (for example a newer built 2 story home built in 2005 (during the Tucson BOOMING market) vs an older historic home.

Some disadvantages to buying a new home • Can be more expensive than buying used • Location probably isn’t ideal • Despite being new, workmanship might be questionable • Could be subject to costly HOAs, even if it’s a house • Neighborhood dynamic is unknown • Property values might be more volatile • Construction nearby (eyesore and noisy) • More cookie-cutter, less unique Advantages to Buying an Existing Home • Possibly cheaper • Better, more central location • Can buy in an established school district • Can own in a more reputable and recognized neighborhood • Old house might have new upgrades • You can always renovate if need be • Older houses tend to have more character, custom design • Could actually be built better than a new built.

For disclosure, I live in a historic home designed by Tom Gist in a historic subdivision, I am a little biased in this regard.  Working with many first time home buyers, some think newer = better, which is not always the case.  In fact, when people say "They just don't build them like they used to.", I firmly believe this applies best to housing and cars.

Spirit