[quote=AN][quote=CA renter]
BG is right about custom vs. tract homes. In general, a custom home will hold it’s value/appreciate more than a tract home, all else being equal.[/quote]
Do you have data behind this? Not trying to pick on you, just want to know if this is your opinion or it is in-fact a reality. I think to have a more apple to apple comparison between custom vs tract, they must be in the same zip code, build around the same year, similar sq-ft for house AND lot. I know this is probably a hard if not impossible exercise, but it help prove your statement “all else being equal”.
[quote=CA renter]The difference between the MH home and the LJ home you’ve linked above is that there are a number of people who seek out older, “historical” custom homes. Just anecdotal, but a lot of these people tend to be DINKS and/or people with a lot of money who like to buy something architecturally unique and aesthetically pleasing.
While newer homes might need less maintenance, work better for families, and be in “better” school districts (the reasons why most people seek out the newer tract homes), there is nothing unique or beautiful about them, IMHO. You get a lot of young families in tract homes, and these buyers tend to be the weakest buyers, so they are more prone to financial distress, IMHO.
FWIW, I’m a sucker for older, custom homes, so have to admit my bias. 😉 Seriously, since we’re looking for a custom home ourselves, I can assure you that the competition is fierce, and lots of these buyers have tons of cash.[/quote]
I wonder if it has something to do with generational as well. Personally, I look at that MH home and I see nothing attractive about it. There’s a difference between a beautiful custom home in RSF vs these 1500 sq-ft early-mid century custom homes in my eyes. 1500 sq-ft my be huge 50-90 years ago, but it’s tiny in today’s standard.[/quote]
Yes, these homes are smaller than what most young families are looking for these days, and that’s why you tend to see childless people buy them (retired, DINKs, etc. — who often have more money).
What a lot of the tract home lovers might not understand, is that while these older custom homes might be smaller, they tend to use space much more efficiently. They often have amazing built-ins, and more wall space — so you can put furniture against the wall, leaving an open floor in the middle, which makes a room feel larger and allows for a better “flow.” The newer tract homes might be larger, but they waste an awful lot of that extra space on large hallways, foyers, unusable nooks, etc.
