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Hidden Costs in Home Buying - New vs. Resale
Today I received an email from Toll Brothers linking to a blog about why you should buy a new home rather than a resale.... and they make a few points; but they miss a lot of points. "A" for effort! Hopefully the consumers reading the blog don't actually think about what it says - or doesn't say.
In this sheet, Toll Brothers gives you expected life expectancies of varying systems in homes, and their approximation of replacement cost. Generally speaking, they are right on about the average life expectancies. According to the estimate, over a 25 year span you could be spending $133,500... that's a little more than $5K a year in maintenance (that's regardless of whether you buy new or not - that's the cost to maintain a home over those years... and it's probably going to be more than that in our area). However, if you are buying a home, particularly a resale, I recommend you get a home inspection and hire someone that will provide you with a better estimation (based on the actual home you're buying) what maintenance or replacement items you should anticipate so that you can budget accordingly.
Aside from the predictable maintenance costs of ... more

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