Quote:
Originally Posted by Sliver
Agreed, but it takes deeper pockets or a handy skill set and lots of time off to live in an older area. New homes are great because of the maintenance holiday. You won't need new windows, doors, appliances, furnace, roof, etc. for years and years. That helps keep expenses predictable and affordable.
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Yes but even in new homes you may have things like fence building, landscaping, watching out for material and building deficiencies, etc. Also I don't think the newer areas tend to appreciate in value as much.
The first question I would be asking, if I was to purchase a house in an older area, would be how old is the roof, furnace, water heater, air conditioner, appliances, etc. Although, walking around these types of neighborhoods, i would say in general, that the people tend to take great pride in keeping their place fairly well maintained. This probably happens because of their awareness of the relatively faster rate at which their place is appreciating.
However, before buying any house, especially an older one, I think it would wise to pay for an inspection to know what you are potentially up against for extra expenses.