Home Buying in Phoenix>Question Details

Trulia Phoen…, Home Buyer in Phoenix, AZ

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

Asked by Trulia Phoenix, Phoenix, AZ Fri May 17, 2013

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A homes value depends on many factors, mainly location and condition of the property. Also, if you are comparing properties, they must be similar in size, number of bedrooms and bathrooms, and other items such as size of garage, whether the property has a pool, etc.

The age of the home alone doesn't really come into play much in determining value of a property. You do, however, need to consider things like the plumbing, A/C unit, water heater, roofing, etc., things that may need to be replaced sooner in an older home than in a newer home.

An older home can have greater value than a new home, but also has the potential to have less value. It depends on the location, comps, and condition of the actual properties you are comparing.
0 votes Thank Flag Link Tue May 21, 2013
if the two are identical in size and quality of neighborhood, the newer home will be of "greater"
value simply for 2 reasons; newer components and new materials rather than logically good but still
depreciated materials.
0 votes Thank Flag Link Sat May 18, 2013
It is possible that it could, but so many variables to that question,
Location, Condition, size, ammedites type of upgrades, current market in the area, sales in the area.... in my opinion there is not way to really provide a yes or no answer to that question.
0 votes Thank Flag Link Fri May 17, 2013
It could........if it's in a historic district!
0 votes Thank Flag Link Fri May 17, 2013
Nobody knows. Value depends on condition. A 10 year old home in pristine condition would have a higher market value than a 1 year old home that's been abused heavily.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Fri May 17, 2013
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