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Trulia Tucson, Other/Just Looking in Tucson, AZ

Does an older home have more value than a newer one?

Asked by Trulia Tucson, Tucson, AZ Mon Apr 8, 2013

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That is a broad question, since no 2 homes are alike. What is valuable to you, or what is valuable regarding appraised value, or...

I can help more by talking with you about the specifics. Would you like to call or email directly?

Kat Tyree, Associate Broker
520-730-5540
TucsonKat@gmail.com
1 vote Thank Flag Link Mon Apr 8, 2013
You really cannot make a generalization like this. Older homes are often better built (and sometimes not), and may have more charm. But if the home hasn't been maintained, it may be worth far less than a comparable new home. So much of the newer/older valuation is subjective.
1 vote Thank Flag Link Mon Apr 8, 2013
Depends on location. There are many million dollar properties in Historic Subdivisions, like in Central Tucson in Colonia Solana and El Encanto Estates and many of these are older homes.

Really depends on each buyer, some may want the character and charm of an "older" home while others may prefer a new & modern home. These are things I review with buyers, see what section of town they are interested in, their search criteria and send a list of properties that match their criteria that are available to view.

Any potential buyer should get pre-approved first & then start a relationship with a local Realtor.

Spirit

Spirit Messingham, PLLC
3rd Generation Full-Time Realtor®
Tierra Antigua Realty
Direct (520) 471-6900
Fax (866) 365-5208
SpiritRealty@cox.net
http://www.TierraAntigua.com
0 votes Thank Flag Link Mon Apr 29, 2013
Older homes sometimes need to have plumbing and electrical upgrades done just so that they are compatible with modern living. That can be a factor in pricing. Another is something called functional obsolences, small rooms and closets, very low ceilings, small kitchens, one bathroom, lots of narrow hall ways. That can also be a factor. On the other hand, if a home has good bones, or has had a recent remodel, the actual age of the home may be less important. It is like they say, the most important 3 things are Location, location, location.
There are lots of things that go in to pricing a home. The best way to determine value is with a good realtor, and a good home inspector. If you are a buyer, and considering an older home, just be sure to do your Due Diligence and make sure your eyes are wide open.
Doug Seemann
Long Realty
520-370-8907
dougs@longrealty.com
0 votes Thank Flag Link Mon Apr 8, 2013
David Hopper's answer is very true!
I think it all depends on the location, build, ect...
0 votes Thank Flag Link Mon Apr 8, 2013
It all depends on location and location. As older homes need more work,usually, you need to make sure the market is good for absorbing costs. They can be more convenient for work and entertainment, but check area well with your agent.
0 votes Thank Flag Link Mon Apr 8, 2013
When you ask for value you usually will receive differing answers depending upon that person & what they perceive as valuable; like the area in relation to schools, work, grocery stores, pool or not; or would they sacrifice yard space for a more modern floor plan? More specifically, which particular older home would you be interested in comparing to, which newer home? You may get different answers depending upon who you talk to, I would be happy to talk more with you if you like...

Thank you,
Evan Harris
REALTOR
For a FREE Home Buyer's Guide go to: http://goo.gl/232cm
Coldwell Banker Residential Brokerage
evancharris@comcast.net
520-481-2580-direct
0 votes Thank Flag Link Mon Apr 8, 2013
This is a very good questions and its nature is quite subjective. I am sure you have heard this before but real estate is all about location, location, location. With that said, an older home could have a greater value than a much newer one if it is located in a more prestigious area. This also must be evaluated from the buyer's perspective, but the good thing about today's market is that there are no shortages of buyers but only good marketable homes.

Please feel free to contact me directly for more information.

Regards,
Michael Shiner
520-247-6436
http://www.tucsonrealestateliving.com
0 votes Thank Flag Link Mon Apr 8, 2013
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