Buying newer, more practical house vs charming, smaller, older home....

[lucybabymamma]

(Sorry if this is a little long).
Just sold our house and are now in the market for a new one.

We wanted to downsize and save a little more money each month, so our price range is pretty low for our area. Also, I really would love to live close to the school DD will be going to next year, which mostly has more expensive homes.

Right now, there is a really low inventory of homes in our area and in our price range, but we have only been out looking one time and I think things will probably pick up after the New Year. Also, we do not need to find a home right away because we are staying at my mom's house, and she lives in Mexico until the summer.

Anyways, when we did look for a home the first day, most of the homes we saw were complete and total fixer uppers and just really gross, except for:
* a small, 1912 home that would fit our family (just barely), needs some work, but is closer to the little downtown area
* one home that was a foreclosure and was built in the year 2000 and looks perfect.

The newer home was a little more expensive, but not much, and for all practical purposes the newer house is pretty much perfect for our family -- right area, enough space, right price and nothing to fix -- only thing is, I really don't like it!

It's just beige and blah and I worry that when we go to resell, it may be hard for that very reason because most people looking in this area are looking for something older and more unique (and that's probably why it is still on the market).

I would love to live in a cute, smaller, older home, a little closer to the shops and things to do. Also, since both my husband and I are pretty handy, I think we could do better with fixing and reselling the smaller, older home.

Am I being selfish? Crazy?

My husband reeeeally loves the idea of the newer home and totally doesn't understand why I am not more excited about the newer house. He's also worried that an older house will be a money pit (either this one or another one), and may not exist in our price range.

I feel like we just started looking, and am more interested in possibly making an offer on the older home, or want to hold out for a closer, more charming home. If we wait and the newer home that he likes sells, I am worried we won't find something else and he'll be upset....

What do you think? Anyone have experience with things like this?

[elbenn]

I totally get why you would like the older charming home better, but I wonder if your dislike of the newer home is because it is such a blank slate right now. You can do wonders with paint and wallpaper. If you are handy, you could add built-ins and other things that will give the newer home character. Of course, the location is a separate issue since one home is closer to the downtown area.

[AshleyAnn]

I love older homes. My rental is from the 20's and amazing. Its tiny and looks like nothing from the outside but it lives large. I would not like going from this house into a newer boring house. My in laws live in a home that is well over 100 yrs old and it is not a money pit. It has been updated periodically and that has definately helpped. My home was also updated. Not all new construction is good. My ex is renting a newer home (mid 2000's) and its horrible - everything was built to a price point and they contractors used the cheapest materials and laborers possible. I think it depends on the individual home both new and old.

Maybe there is a home you can compromise on if you do more looking.

[kara97210]

I love older homes (I grew up in a big creaky house that was built in the late 1800s and we've renovated 2 old house - we just bought a 1920's house last spring), but based on what you've said, I'd buy the newer house. With kids, I just think you will regret not having the extra space. PP is right, you can do a lot with paint and decorating and as long as the neighborhood isn't too different, I think space is the deciding factor. Can you walk to anything in the neighborhood with the newer house?

[karstmama]

i'm *not* handy and i'd go for the newer house in a skinny minute. but you have to think about what would make *you* happy.

think about the next five or so years - any chance of having more children? would another fit in each house? any thoughts of a dog? fenced yard?

you can't plan for every contingency, but maybe that will make your thoughts clearer.

[Mopey]

I have no personal experience but I think the vibe and feeling you get from a place is most important. That being said, I worry about shoddy construction of newer years and would think that kind of a foreclosure could possibly be more of a money pit. It's all about home inspection when it comes down to it. And fixing up is great for your equity! Good for you for lessening your footprint (and expenses!).

Much luck!!

[SnuggleBuggles]

Newer ones aren't always as well constructed. So, the newer one could be a money pit. On an older home, I would look for updated windows and a new(er) roof. If those things have been done then that helps a bunch with expenses. I lean towards the older home but I like both. My house is from 1920s and my last house was from the 1990s. Both have pros and cons. My current house has been a better house though- it has good bones, as they say.

[Liziz]

I personally have always like newer homes, and would definitely pick that. But, I think that since you have some time, and you just started looking, you should wait until you've had the time to see a few more houses.

[ellies mom]

Newer ones aren't always as well constructed. So, the newer one could be a money pit. On an older home, I would look for updated windows and a new(er) roof. If those things have been done then that helps a bunch with expenses. I lean towards the older home but I like both. My house is from 1920s and my last house was from the 1990s. Both have pros and cons. My current house has been a better house though- it has good bones, as they say.

I'd go for an older home with good bones and charm closer to a downtown area in a heartbeat. My current house is only 7 years old or so and we've already had the electrical box for one of the ceiling fixtures fail and one of the drawers in the kitchen broke. We've had to replace some of the toilet innards on all the toilets to stop them from running and the levers on two have broken. Yeah, less than pleased.

I've lived in two houses built in the 1920's and both lived a lot larger than they were. Not to mention the charm that the houses had. It is hard to build charm into a newer house without spending a pretty penny and even then you run the risk of it looking odd. And then there is the neighborhood. I miss living downtown or close in. I always feel as though the suburbs suck a little of my soul every day.

[wendmatt]

I would choose a newer home in a heartbeat. I hated our "cozy" old home, it was drafty, the windows would get ice on the insides, the floors were creaky, the list goes on. As pp said, you can still improve the newer home if you are handy and decorate exactly how you wish. But, if you like the older house better, you cannot put a price on loving where you live. I am sure after new years there will be more on the market to look at so I wouldn't rush into anything right away, unless you love it.

[vludmilla]

I think you need to know your area. In my area, older homes tend to be much higher quality than most new ones. In my older home, I have solid walls, a dry basement, and great wood floors. My neighbors in a new, larger home have leaks, can hear people in the bathroom from just about anywhere, multiple things have broken. New homes that are built on speculation by a builder on not always made using the best materials or methods. Of course, some older homes have not been maintained well and do cost a bunch but around here there are lots of high quality older homes.

[fivi2]

I think location should be one of the biggest factors. Then look at the specific neighborhood and even yard. Those things you can't change.

As far as which is built better - it will totally depend on the particular houses. Get a good inspector that you trust to look at them. Our house is from the 50's - zero character and poorly built. Things go wrong all the time, there is no insulation, the floors are uneven, etc, etc. So based on that, I'd vote newer. But as pp's said, plenty of new homes are poorly built.

I will also say that living in a tiny house with kids is a huge pitb. But my house is super tiny ( a 2/1 with under 1000 sqft). We are planning on adding on, but only because we love our location.

eta: don't forget STORAGE SPACE! Our 1950's house has two teeny tiny closets (one in each bedroom) and that is it. No linen closet, no hall closet, nothing. The attic isn't really accessible and we don't have a garage. That makes like very difficult!

[Nicsmom]

Tough decision. I am an old house person, but I recognize older homes can be a money pit. We've been lucky but many of our neighbors have spent a fortune fixing their older homes. So if you decide to buy the older home, make sure that it is in very good condition. As for it being smaller than you like, could you make an addition at some point? I believe that you have to love the house you buy and love the location, and it seems like the older house is more your style.

[Pear]

We faced a similar dilemma. I can tell you that I absolutely adore our modern, low-maintenance home. Beige and blah can be fixed with some bold paint and beautiful window coverings.

Part of me still misses the houses I had with lots of character. The 1919 kit house was pretty darn cool. It was also a maintenance nightmare and impossible to buy appliances for. Really I just missed the built in bookshelves. I plan to add some to our current house once budget allows.

[AnnieW625]

We live in a house from 1950 and there is zero closet space, one bathroom and just over 1100 sq. ft. . It has 3 bedrooms, all almost the same size so that is nice. I lije the details of old homes so the older home might work for me if i didn't care about a lot of closet space or updated details. I love the features that newer homes have like larger kitchens, larger closets, and two or three bathrooms, but what I hate about them is that the master bedrooms are double the size of the kids bedrooms, which are really small and there is too much emphasis on family space like a game room, plus two living rooms. Get rid of the game room and you have bigger bedrooms that can take a full size desk and such. Now I would consider the home built in 2000 if you can find out about the builder, and if the builder was reputable and or if it was a custom home. A custom home or even a speck home (a home built by a builder in a tract, but has more custom touches picked by the buyer at the time it was built) for a home built in the last 10 yrs. would be pretty high on my list if I liked the floor plan and the area. You can always change paint too so keep that mind.

[lucybabymamma]

Good points about the more modern houses not necessarily being better quality!
We spent a lot of time today perusing the listings in the area and near the area we want to be and everything is just so darn expensive and/or just needs SO much work.
The newer one is only 4 minutes from the school we want DD to go to and in a good neighborhood. We just downsized to save more money, so I hate make us house poor with projects and for my desire for cute....
I think we are going to put in a really low offer on the newer house and see if the bank will take it. I can try to add character later, and I suppose it's better than having to sink money into replacing old electrics, adding a garage or fixing plumbing....

[marymoo86]

Good points about the more modern houses not necessarily being better quality!
We spent a lot of time today perusing the listings in the area and near the area we want to be and everything is just so darn expensive and/or just needs SO much work.
The newer one is only 4 minutes from the school we want DD to go to and in a good neighborhood. We just downsized to save more money, so I hate make us house poor with projects and for my desire for cute....
I think we are going to put in a really low offer on the newer house and see if the bank will take it. I can try to add character later, and I suppose it's better than having to sink money into replacing old electrics, adding a garage or fixing plumbing....

Well it might be "newer" but at 2000 it is almost 12 years old - when things are going to start needing replacing in the new future. How old are the appliances, HVAC, will it need repainting (assuming wood), etc. Those are things to consider as well.

[lucybabymamma]

Well it might be "newer" but at 2000 it is almost 12 years old - when things are going to start needing replacing in the new future. How old are the appliances, HVAC, will it need repainting (assuming wood), etc. Those are things to consider as well.

It was a forclosure and the bank just went in and repainted, replaced carpet and put in new appliances (pretty low quality). We would need to get a fridge and washer/dryer. We'll have to look at the furnace again because I don't remember....You're right that there are still things to buy and do though. We have a spreadsheet going, so we probably need to add future costs to it and consider that vs an older home, if we make an offer.

[ahisma]

We live in an old, charming house. It's small. We have no garage (the lots predate cars). We're close to our neighbors. We love it.

We had to make the same decision that you are making. The old house isn't for everyone. I'll admit, when I visit friends in the 'burbs I envy their space, their playrooms, their garage. But, I love where we are and wouldn't move...it's a knowing choice but that doesn't mean that sometimes I wouldn't like more space.

Structure wise, there's something to be said for the solid craftmanship of an old house, the wide, hardwood trim, the charm. When we have a storm, we tell the kids that this house has been here for over 100 years and clearly isn't going anywhere.

It is a money pit, sort of. We're lucky that FIL and some friends are handy and can help with some stuff. For the most part, it is in good condition and there have been no *major* repairs in the 9 years we've been here, except for a new roof. It's full of quirks and, if we wanted to make all of those go away it would end up costing a fortune. We wind up embracing them...it works.

Location was a huge factor for us too - we live in a very walkable community. We can walk to: grocery store, post office, parks, playgrounds, pool, violin class, hooping class, karate, restaurants, my PT office, hospital, schools, etc. That was an important lifestyle choice, for us. You lose lot size with that decision though. We have a garden, but because of that we don't have room to build a garage. There's a lot of give and take.

I've read that you're either an old house person or you're not. I think there's something to be said for that. I love the character of the house, it's very comforting to me. It makes up for the other things that we gave up.

[wimama]

I would go for the old house if it is in good condition. Get a good home inspection for either house. There are no guarantees with a newer house or old house. I agree the newer house doesn't mean better condition. DH and I both love older homes.

Our first house was a 85 year old home. The previous owners had refinished all the floors, updated the kitchen and bath, put a new roof on, put in a new HVAC, no horizontal pipes. In short, it was in great shape and a very sound low maintenance house for us for the time we lived there. I love the warmth and vibe of most older homes. That said we now live in a 1960's colonial and I love that too, because of the space we have and neighborhood. But, our old house our older home has a special place in my heart.

[Jenn850]

It is a personal call. We recently sucked it up and sold our beautiful 100+ year old on a beautiful street (it sold itself) and moved in the new home in the suburbs. Safety was an issue for us, schools and free babysitting near my parents. It is alot alot easier with all the space and nothing breaking down. The cold draftiness was charming for me, but was not for babies. We really really miss the chram but the headaches not for a single second. We are really happy here focusing on family and not the never ending projects. But really it is up to you and what you can work out with your gut. When mommy is happy, everyone is happy;)

[carolinamama]

Right now we live in a newer home (new construction that we bought 3+ years ago) and it works perfectly for our family. But the biggest reason that it works well for us is the neighborhood. When looking, we found that the newer neighborhoods were better for us since they tended to have other kids (playmates), neighborhood pools, and other activities geared toward kids and families. DH and I LOVE charming older houses and often the areas they are in - walking access to stores and restaurants. We definitely plan to move to that type of house once we are empty nesters.

Newer house doesn't always mean no money pit though. Our house has been fine (as was our previous house that we bought new) but my bil and sil moved into their new construction house that they had built a month before we did and it has been one huge problem after another. And I mean huge. Right now their master bath is completely ripped out, alot of the flooring on the main level is out and because the way it was built, they also have bad termites.