With respect to the hundred dollar a month difference, you should be able to more than make that up in maintenance savings. In other words, we would expect the older house to have more than $1,200 per year in extra maintenance as compared to the nearly new home. Also, the taxes on the newer home are likely to adjust lower based on the sharp drops in market value.
Finally, these comments are based on the scenario you gave us wherein the houses are "identical". A good agent will point out many differences even between similar homes. And, a good home inspector will keep you from buying a headache house. Hope this helps you.
Licensed Loan Originator
Amerifirst Financial, Inc.
Apply Online: http://www.mattpuzz.com
Why would the newer property cost you $100/Mo more if they are priced the same? If it is due to an HOA in a gated or lake community, then you have a lot of value there.
If they were truly identical I would advice you to go for the newer home, but I know there is more behind the pricing for both homes, probably even factors you are not familiar or aware of - and without knowing those factors it is impossible to give you a good advice.
Carlos J. Ramirez, PC, ABR, CNE
Associate Broker/Realtor, HomeSmart -
Jeffrey Austin, ABR, CRS, GRI
Real Estate Homes, LLC
Go sit down in each of them for a few minutes and close your eyes and see how it feels to 'be home'.
But, at the end of the day, they may be equal. Only you can decide.
Carefully compare the units, most properties have enough differences to discuss and create a good pro's and con's.