Zmh1423, Home Buyer in Esquire Village, Gil...

I found 2 homes I really like in Gilbert AZ. One was built in 2006 and one is built in 1990. They are both very nice. How do I choose?

Asked by Zmh1423, Esquire Village, Gilbert, AZ Tue Aug 17, 2010

Both homes are identical except for the year built and yearly taxes favor the older home.

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Right now, the neighborhoods that were built in in 2005, 2006, and 2007 are very unstable. This is due to the fact that nearly all of these homes are worth about half what they were sold for when new - and the original owners are bailing out right and left. If you like bargains, this is the way to go. And, yes, the newer home should be more desirable at resale.
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.
1 vote Thank Flag Link Tue Aug 17, 2010
Which home do you like best? Is one neighborhood preferred over the other. Does the home built in 1990 have polybutylene pipes? Polybutylene is a form of plastic resin that was used extensively in the manufacture of water supply piping from 1978 until 1995. It is most commonly found in the "Sun Belt" where residential construction was heavy through the 1980's and early-to-mid 90's. Polybutylene was the subject of a class action law suite in the 1990's that resulted in re-piping tens of thousands of homes.
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0 votes Thank Flag Link Sun Sep 12, 2010
Go back to what you were looking for in the beginning of your search; what was most important to you? Size, location, "newness", etc and discover which property has more of your desired criteria.
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0 votes Thank Flag Link Tue Aug 17, 2010
Location, location, location.........something that you may also want to consider is the energy efficiency of the home. The newer home may have dual pane windows and/or low e windows with better doors and insulation thus reduciing the electric bills. The older home may have these features too, that is why it is important to be working with an experienced realtor so that they will point these things out while you are checking out where the bed and the china hutch will fit, along with the cool countertops in the kitchen. If you are looking for an experienced licensed lender I can help you with that too. Good luck with you search and your decisions.

Matt Puzz
Licensed Loan Originator
Amerifirst Financial, Inc.
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0 votes Thank Flag Link Tue Aug 17, 2010
While typically newer construction can be more appealing it really depends on the quality of materials used and the skills of the builder who built it. Take a good look at the overall condition and quality of the two properties as well as how well the 1990 one was maintained and was it upgraded. Always the three rules of real estate location, location, location!! Go with the house that you can see yourself in for years to come.
0 votes Thank Flag Link Tue Aug 17, 2010
It is impossible to give an honest answer without talking a look at the properties, the area they are located and verifying the ammenities and condition of each. If the properties are equivalent in every other sense (which rarely occurs), the newer property will usually sell for more. So if they are priced the same there is probably a reason why - maybe due to the subdivision, lot location, etc... Your agent will be able to determine the reason why and provide you an advice based on what he can research.

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 -
0 votes Thank Flag Link Tue Aug 17, 2010
There are pros and cons to every home so one thing you'll want to do is weigh those pros and cons. Secondly but probably the most important is location. Not just location of the community but location of the home in the subdivision. I would also look at a 8-10 year history of sales in the neighborhood excluding the boom of 2004-2005. The 1990 home will have a much better history than the newer home but this needs to be considered in your decision. Hope this helps?

Jeffrey Austin, ABR, CRS, GRI
Designated Broker
Real Estate Homes, LLC
0 votes Thank Flag Link Tue Aug 17, 2010
If everthing is equal, I would talk to the neighbors and see which one you want to live by. Any barking dogs, other issues? Do you have children? Check out the street in the afternoon and evening to see who is playing outside. How far is the nearest park? Which has the best yard and shade trees? There are so many options.

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.
0 votes Thank Flag Link Tue Aug 17, 2010
Do you have representation with a Buyers agent? When I tour homes with buyers I'm able to use my experience to point out differences in the homes condition etc. Are the A/C units the same age, what about other issues? Are they both tile roofs?

Carefully compare the units, most properties have enough differences to discuss and create a good pro's and con's.

Doug McVinua
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0 votes Thank Flag Link Tue Aug 17, 2010
I would buy a home right now based on what you like and what's going to work for you long term. Older homes sometimes move slower than newer ones depending on how well they're taken care of. Really only you can decide because we don't know which 2 properties you're referring to. Good luck!!
0 votes Thank Flag Link Tue Aug 17, 2010
The best way to choose would be location and amenities such as pool etc... Since the monthly amount is only a $100 difference it will come down to if you want a newer or older home. Go back and visit both homes a second time and see which homes feels right. which home can you actually see yourself living in.
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0 votes Thank Flag Link Tue Aug 17, 2010
I should clarify that these two homes are priced identically but the newer home would come out to be about $100 more a month. Is it worth in the long run as far as resale goes or will it not make too big of a difference?
0 votes Thank Flag Link Tue Aug 17, 2010
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