Dane Hahn

Hi Pucca,

You ask, "Which one is easier for resell in 3 years in Lebanon, NH: a new condo (brand new right now) or a similar size single family old house (built in 1980 or earlier)? We are looking to buy a house or a condo and want to resell after 3 years when we leave."

You ask an interesting multiple-choice question. Just remember nobody can tell what's happening in real estate in one year, never mind three years from now. But OK, here goes...

A new condo, well built in an appealing area and properly managed, without huge condo fees PROBABLY will gain some value over 36 months. A used house in good condition in a nice area also should increase in value. So my answer is they will both grow, so which one do you want to live in? (Your buyers will also ask that question of themselves).

If the current administration jiggles our tax structure and jiggles the bogus "give backs and freebies" that they are presently offering first time homebuyers, then the traditional benchmarks that we use to determine real estate value will be useless. If Mr Obama chooses to devalue the dollar more than he already has, either property you pick will be worth much more money in 3 years (because money will be worth less) but fewer people will have enough money to buy your home so you may have a 1/2 million dollar home that only people who invested in real estate or gold could afford.

All the more reason to buy the residence you like best. Remember this is your home, NOT an investment, so pick the one that best suits your family, live in it, enjoy it, and in 3 years if you choose to sell it, fine--sell it then. Make investments in other things than your principle residence. This is a key to family happiness, if you can learn this RULE OF HAPPINESS from me right now you will have a happier life than if you learn this RULE just after an expensive divorce.

Good luck,

Dane Hahn
NH Broker - Tue Jun 23 2009, 10:33