[quote=DWCAP]Should a new house really command a big premium over an ~10 year old house? Serious question. I just dont really understand the facanation with ‘brand new’. There have been tons of reports in the media of problems with ‘new’ houses, remember the whole chinese dry-wall thing? And the community usually has little character or anything yet, as trees are 10 days post homedepot and the grass usually could just be rolled up and resodded somewhere else. You dont get to know your neighbors before they move in, and all so often alot of the infrastructure doesnt exist yet.
I have only been in 1 new development, and it wasnt in SD, so I have little frame of reference on this and could be wrong. But you will have to fix any defects and repaint etc etc when you try to sell anyways, cause when you sell it aint new anymore, so I dont really know what the big deal is.
Anyone care to enlighten me?[/quote]
You’re right. A new house by itself does not justify a higher price.In fact, many established communities with nice houses and a good track record deserve a “premium”. In newer communities things are more unpredictable. There may be not much pride of community(yet). Also, many of the newer communities (for instance “Stonebridge”) were built at a time when many buyers overstretched themselves with mortgages they cannot afford anymore. Therefore, you see some homes that have been neglected with poor landscaping or overgrown front yards. Overall, I do prefer to buy a home in an established neighborhood over a new development. But that’s just a personal preference.
