Home Buying in Cherry Hill>Question Details

Ronnie Varela, Home Buyer in 08043

Does a home's age really matter ?

Asked by Ronnie Varela, 08043 Tue May 12, 2009

I have seen some older homes 30 - 50 years updated and very well maintained in the Cherry Hill neighborhood, but I am hesitating to give them a second look .. Thoughts ? Ron

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Hi Ronnie,
I live in Cherry Hill. Most of the homes were built in the 1050's-1960's. The quality of most of the construction was superior to homes built after that period of time. In the 1970's, there was a shortage on building materials and some less than quality construction...aluminum wiring, etc. The biggest worry in old homes goes back prior to the 1950's with issues such as knob and tube wiring, interior asbestos. There are a few neighborhoods that were built when Cherry Hill was still called "Delaware Twp." so those homes may have these "old" issues.

One nice thing about the older homes are the hardwood floors. When looking at homes (even new homes)look for major warning signs: are the floors even, is there a slant to the home when you walk around, is the electrical panel and wiring updated, how are the windows, etc.

Then follow Carolyn's advice from TX and get a good home inspection no matter where you purchase. Every home has some issue, from major to minor repairs. Good luck!
Web Reference: http://www.ElisaDewees.com
0 votes Thank Flag Link Tue May 12, 2009
The age of a home is important for a number of reasons:

The useful life of a roof is typically about 20 years, though roofs in areas that are prone to severe weather (eg Hurricanes) may not last as long.

Older homes (built before 1978) may contain lead-based paint, which is believed to cause certain health problems.

Plumbing and electrical components of older homes often require updates.

Always seek the advice of a licensed and bonded home inspector prior to closing on any home (new or old) that you are considering purchasing.
1 vote Thank Flag Link Wed May 13, 2009
We live in a very young country. Homes can last 100's of years with good maintenance. Home over 100 years old are often worth more because they become historical.
0 votes Thank Flag Link Sun Jan 2, 2011
Hi Ronnie

An age of any home matters.
However, if it well maintained and updated you still need an excellent
Property inspection.

New homes built by reputable also have problems now-a-days and should also be
Inspected.

So a 30 to 50 year old homes are just fine, if kept up well and updated, do not discount
Them.

Good luck.
Perry
0 votes Thank Flag Link Sat Jan 1, 2011
It matters in terms of the plumbing and the wiring. Also the roof gives out after a period of time. On the other hand, some fo the older homes are bigger and in closer-in areas of town, plus you get more land with them usually. Get a good home inspector and have a complete home inspection. You might find that with a home that has been well-taken care of that it doesn't matter at all. I would say the pluses will outweight the minuses. So check them out. You might be gload you did!
0 votes Thank Flag Link Sat Jan 1, 2011
If you like the home then take that second look. Many older homes are built better than new. Yes some of the reasons stated below are valid, however, if you like the home, the location, and the price fits, go for it. All the parts are replaceable for new.
Good luck!
0 votes Thank Flag Link Sat Jan 1, 2011
I would not rule out a home because of age, particularly if it is in an area you like. Hire a very good inspector to help you scrutinize the mechanicals and the structure. Also, you can consider building a home warranty into an offer if you are concerned about the age/condition of mechanicals/appliance. But you did say most have been updated which may have that base covered.

Depending on your taste, some elements may not be available in an older home - like vaulted ceilings, large closets, etc. I've got several buyers that are singularly focused on new(er) homes, but the inventory is scarce and the demand high.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Fri Dec 31, 2010
It depends on the demand of the city.

EXAMPLE here in Dallas the most expensive sought communities are historic homes however few older areas of Dallas older homes are less desirable.

Consider schools, crime, location, resale value

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Thu Dec 30, 2010
Ron,

Let me finish with a personal experience. I was a first time buyer in 1983. Had a choice between a beautiful older Victorian home versus a brand new (watching it be built) home. Chose the new house . It was build by a very reputable builder (at the time he was president of the NJ Builders association).

Within the 13 years I owned that home, we had to replace all the windows, had a leaky roof, had the water main in the front yard burst, and had a flood in the garage due to poor grading of the driveway.

So as you can see there can be problems with a new house as well as an older one. If you truly love the older home, give it a shot. Best of luck with your search.
0 votes Thank Flag Link Thu Dec 30, 2010
Ron,

Lots of reasons to say no. if the house has been maintained I really believe that an older home has better "bones" in some cases. Thats why I encourage my sellers to fill out a disclosure to give a potential buyer a good idea of age of the roof, furnace, AC, and any other Improvements. However, just because the roof is old, doesnt mean you should rule out a house. As a homeowner, no mater the age, you have to expect that somewhere down the line replacement, repairs and upgrades .

Since you said the were updated, I encourage you to take a second look, talk with your Realtor for advice, and of course have a home inspection.
My home was built in 1972 and at 38 years old has had just about everything replaced or updated.
0 votes Thank Flag Link Thu Dec 30, 2010
Remember that location, location, location are the first three considerations! You can inprove your own
property but not your neighbor's. A home inspection will answer your concerns regarding a specific house,
but your own eyes will be the best guide to the neighborhood. And a good agent will not hesitate to voice his/her opinion as to the important considerations you must evaluate before making an offer! Pick your agent's brains. After all, this is their business. I will not wish you "good luck". You need lots more than
luck to make a good decision.
0 votes Thank Flag Link Wed Dec 29, 2010
I would encourage you to take a second look - the important issues to focus on are foundation, roof, heat and air conditioning. I recommend you take another look, pay attention to these things, ask for a seller disclosure and if all systems are in good condition and have had recent maintenance and or updates - as long as the home answers all your personal comfort needs - go ahead!-
0 votes Thank Flag Link Tue Dec 14, 2010
In working the Cherry Hill area, I would give them a second look if they have been well maintained and upgraded, mainly roof replaced, windows replaced, newer heater and AC unit. The school system is excellent and ratables should continue with the help of new business.
0 votes Thank Flag Link Thu Sep 17, 2009
Ronnie,

If the home meets your needs.....really meets your needs, its age is irrelevent. More important considerations could be: location, community, resale value, schools, the home's physical plan, etc.

If the home is well maintained, has been updated where necessary, and meets your personal criteria, it may be a mistake to overlook it.

Good luck
0 votes Thank Flag Link Thu May 14, 2009
It depends on your preference. Do you have to have a McMansion? I personally perfer older homes, they have more character. If a home has been cared for and was built well in the first place there's no reason to rule it out because of age.

Laura Giannotta
Keller Williams Atlantic Shore
0 votes Thank Flag Link Thu May 14, 2009
I believe in the old saying: "They just don't build them like they used to". I am under contract for a home built in 1963, and when I look at the construction qualty that went into this home vs. a modern home, well its not even close. The lumber used was better, the constructions methods were better, the craftsmanship was superior. Modern construction methods tend to push the boundries of cost vs. quality a little too far for my taste. If you compare a well maintained older home with a newer home of comparable size you will see what I mean.
0 votes Thank Flag Link Wed May 13, 2009
Ronnie,

You'll find very little if any nw construction in Cherry Hill. Cherry Hill is an established town. Most folks who consider Cherry Hill for housing do so for the convenience of commuting virutally anywhere. The schools and municipal services are very good too. Conditions of homes will vary regardless of age. New does not mean no problems either. To add to the suggestion of getting a home inspection I'd say get a local well established reputable home inspection. Most seasoned Pros can recommend a few. For your convenience feel free to search our entire inventory of homes for sale at http://www.YourNJHomeSearch.com You can view all of Cherry Hill and surrounding areas active listings. There's a cool map search there too. All pictures and tax info is shown as well.

Best Regards,

Jeremy S. Hill, Realtor Associate
Keller Williams Realty
http://www.SouthNewJerseyHomes.com
Office: 856.685.1651
Direct: 609.876.5817
Fax: 609.482.8235
Licensed PA, NJ
"Your Interest 1st Always"
0 votes Thank Flag Link Wed May 13, 2009
Ron...If the home has a good functional layout and has been updated and well-maintained, and it is in a neighborhood you are positive about, then you need to probe your motivation to purchase. If you are worried about repairs or construction issues you can have a home inspection, and also purchase a home warranty and even an extended warranty.

It is also likely that you are much, much "younger" than the homes in Cherry Hill, and that hesitation to consider older is normal. I had a Broker who would always say "young buyer, young house". And as silly as that sounds it was true. So the young couple who started out looking for that cute little grandma's house, normally ended up buying something more contemporary, and don't tell him but my Broker was often right. ;-)
0 votes Thank Flag Link Tue May 12, 2009
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