Old home vs new home

Asked by Sjai, 19087 Sun Jun 21, 2009

i have 2 choices buying an old town home ( 25yrs)in one of the really good location (wayne,pa)with goodschools close to the malls ,close to the shopping place and the other option is to buy a brand new ,bigger single family home (chester springs ,pa)20 miles away from where i work good schools but not as good as wayne .which one is a better option considering resale after 10 years and the quality of life .

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7
Nick & Trudy…, Agent, Devon, PA
Mon Jun 22, 2009
Sjai,

You need to consider your commute, it is not just a matter of distance but what the commute is like. If you are using the 202 Northbound or Swedesford Road these two roads are very busy and 20 miles may seem acceptable but if you are sitting in traffic consistently evey day the quality of life issue being further out may not be so agreeable.

A townhome over a single is also a decision you need to make, do you want to do your own lawncare and have space around your home that you can do with what you want. Or does the option of a town home with an association looking after everything seem more appealing? Can you see yourself cutting grass every week.

Is the location in the older townhome have a view of open space or not? Does it have trails and access to shops by walking, or is it car dependant which the single family home most likely is?

If you have family coming to visit which works better?

A home is not always about the investment value, but there are many other variables in your quality of life that you will accrue over the time you live in a home.
Web Reference:  http://www.VandekarTeam.com
1 vote
Linda Walters, Agent, Wayne, PA
Wed Apr 28, 2010
Location location location. You cannot go wrong in Wayne. Everyone wants to live here and the schools are top notch. But close to home is important if you have young kids and are working full time so that might take precedence. How long do you expect to work in that job?
Web Reference:  http://www.FindAHomeinPA.com
0 votes
Laurie Matth…, Agent, Haverford, PA
Mon Jun 22, 2009
Sjai,
Another perspective is what is your time worth. Will the commute cut into activities you currently enjoy or responsibilities?

To be sure, Wayne historically has been a coveted market area and continues to be, even through these tough economic times, due to location, schools and access to major arteries. An older home will require more maintenance, so be prepared financially. A newer home will automatically have that deferred for awhile, if it's been built well.

I'm not sure I've helped you. But perhaps if you send me your email, I'll send you a market report that gives a fully detailed analysis of the area that might guide you in your decision.
Laurie Matthias
laurie.matthias@lnf.com
0 votes
Edmund Choi, Agent, Paoli, PA
Mon Jun 22, 2009
Based on your post, Wayne appears to offer you more convenience, while Chester Springs provides you more house for your money. From a statistical perspective, properties located on the Main Line appear to have fared better than Chester Springs during this period of recent economic turmoil. Good Hunting!!!
Web Reference:  http://MainLineandBeyond.com
0 votes
Marcello Fin…, Agent, Wayne, PA
Mon Jun 22, 2009
Hi Sjai,
I really believe you are the only one who can make this decision and you need tot base it on what is more convenient for you.Both investment will be a "good re-sale" ,especially if the real estate market gets better,the townhome because of location and schools,the single family because will be a newer construction and,because of square footage and lot size,will appeal to a totally exclusive pool of Buyers.
The one thing you need to decide is what is better for you and your family,after that,you want to make sure you get the property for the best possible price in this Buyer's market,the better price you'll get and the more equity you'll have when time comes to seel the property.A good Buyer's agent can definitely help you with that,let me know if I can be of any help.

Regards.

Marcello Finocchi, ABR (Accredited Buyer Representative)
0 votes
Terry Kirkwo…, Agent, Rosemont, PA
Mon Jun 22, 2009
Dear Sjai,

I agree with everything Nick wrote. I strongly believe you will always have better re-sale in the better school districts! Go for the quality of life - be close to work, transportation and the center of Wayne!

Good Luck!
Web Reference:  http://MainLineHouses.com
0 votes
Bill Eckler, Agent, Venice, FL
Sun Jun 21, 2009
Since both quality of life and school acceptability can be subjective, it is difficult for us to comment on this issue.

Since only you have a clear understanding of your expectations, the most qualified opinion is one that you alone can generate. The information you need is out there, it's a matter of doing a little investigating.

Good luck
0 votes
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