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Old house vs New house?

  • Last Updated:
  • Aug 12th, 2012 1:37 pm
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Deal Expert
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Dec 26, 2005
16640 posts
1623 upvotes
Thornhill
I don't think the comparisons people are making are fair or even make sense. The comparison shouldn't be whether there were whiskey bottles by the sewer lines, tearing down an old home to build a new one with a custom design, or whatever.

The comparison should depend on the buyer. Since everyone's saying location-location-location, if the buyer wants to live in the city of X, near the Y and Z facilities, then the comparison should be, what type of home can the buyer build in the area of XYZ for the same price as an existing home? If the area is already "full", then that will include a tear-down.

Yeah, I would like a brand-new home in my area, but I'm not going to spend the crazy money to buy an existing home to tear it down, design a new one, then have it built the way I want... all of this WHILE I am living in my current home. If the tear-down-to-build takes a year, I need to pay an extra mortgage, let alone the cost of tear-down/design/build.

So in the end, if the above extra costs, if I can get a fantastic new home in the area that I want for the same cost as an existing home, then yeah, you've convinced me that a new home is better.

bjl
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