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Is the cost of a real estate agent’s commission worth it? (read more)

 

85% of home buyers use a real estate agent; 75% of home buyers use the internet to search for homes. After finding a home of interest, they typically drive by to check out the neighborhood. The average home buyer searches for eight weeks before purchasing a home.

 

 

 

 

Does Age Really Matter?  

I recently walked up to the home of friends, and was greeted at the sidewalk with a flat stone, on which was engraved “At least you’re not as old as this rock.”  While I think I was supposed to be encouraged by this inscription, the thought crossed my mind that the rock would be around long after I’m gone.  So, I was inclined to consider the question, “does age really matter?”

As it relates to houses, the answer is a resounding “yes” and “no.”  I have had buyers who wouldn’t consider a house unless it was nearly new because they wanted “maintenance free” or preferred the open floor plans and big kitchens that are often present in newer homes.  Then, on the other hand, I have had buyers who didn’t want anything to do with a newer home because they sought something with character, with a mature yard, and preferred a house that has stood the test of time.

As one would expect, an older home usually needs more maintenance on things such as plumbing, and windows need periodic maintenance on the window glazing.  Older homes are typically not as energy-efficient as newer homes, so heating and cooling bills may be higher.  However, an older home that has been well maintained and has upgrades can be as easily maintained as a newer house.  Also, older homes, depending on the era in which they were built, are often very well-constructed.

Newer homes have the advantage of modern building materials such as double-pane windows for energy savings, and faucets that are often “washerless,” requiring less maintenance.  A new house will be trouble-free for a few years, assuming everything was done properly during construction.  Because all the systems are new, they should operate for many years to come.  New homes, however, can lack personality if there are other homes in the area with identical floor plans, or they may be on lots with little landscaping because it has been cleared for construction.  Owners may also find that, if additional homes are being built around them, they are in a construction area until the neighborhood has been completed.

But what about houses that are somewhere in between old and new?  Given the life-span of house systems (roofing, water heaters, heat pumps, dishwashers, etc.), a house that is in the 12 to 16-year range may begin to need some attention as these systems wear out.  However, if the home has had some or all of the major systems replaced, then the house should be ready for several more years without any major worries.

Each home, no matter what the age, should be evaluated individually by a home inspector to determine its general condition.  Some owners prefer to have an inspection before they put their home on the market to make sure there aren’t any last-minute repair surprises as the sale of the house progresses.  Buyers have the option of having the home they hope to buy inspected prior to actually making the purchase, and both buyers and sellers can purchase home warranties that will often cover repairs or replacements of the major systems and appliances in the house.

New, middle-aged, or old.  There are advantages and disadvantages to all, as it relates to both houses and, perhaps, to humans, but that’s a whole other column…

Verification of information included in this article was provided by Jack Feldmann of Clayton Inspection Service, Inc.  Feldmann is a certified member of the American Society of Home Inspectors (ASHI) and can be reached at 865-693-7109, via e-mail at jacnspx@comcast.net, or at http://www.jacnspx.com.

Claudia Stallings
Coldwell Banker Wallace & Wallace


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Past Articles

There Goes the Perfect House

Investing in the School House

Should You Stay or Should You Go?

Does Age Really Matter?

I’ll Take That One

Goodbye Good, Cold Friend

The Perils of Overpricing

Making the Move from Home Owner to Home Seller

Targeting the Right Buyer

Before You Put the Sign in the Yard

 

Why Use a REALTOR®?

Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Here are 12 ways...(read more)

 

ABR, CRS, GRI, ePro... What do these mean???
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