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Buying Land and New Construction >Buying New or Buying Old
New homes typically have a higher sales price than comparable existing homes, and buyers are usually willing to spend more on a new home because of lower maintenance costs. Builders' warranties on new homes, when combined with a new roof, appliances, and major systems, usually make major repairs unnecessary and help to counter a slower initial rate of appreciation.
Census Bureau Housing Surveys suggests that operating costs are lowest for brand new homes and slightly higher for relatively new existing homes. Operating costs per square foot of living space are consistently higher for progressively older existing homes. Utility costs represent the largest factor in operating costs. Energy consumption per square foot depends on the size of the home, the insulation and quality of the windows, air leakage and the efficiency of the furnace.
New homes require fewer expenditures for routine maintenance. The cost of maintenance first increases with age, then declines, so you will generally spend less maintaining a home built before 1960 than for a home built between 1970 and 1975.
The Ronding Team RE/MAX 1 2911 Tower Avenue, Suite 2 Superior, WI 54880 Direct: 218-348-SOLD (7653) Office: 715-392-1111 JimRonding@NUMBER1EXPERT.com
Jim Ronding has been a professional full-time Realtor for over 22 years in the Twin Ports area. Jim has consistently ranked in the top 5% of real estate agents nationally in terms of number of homes sold. Jim, along with the wonderful support of his staff, and RE/MAX 1, will make your next move your smoothest transaction yet! Guaranteed!
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