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Why Buying An Old Home Is A Bad Investment


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2013 Feb 13, 1:37am   15,671 views  49 comments

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http://www.businessinsider.com/homes-30-bigger-consume-2-more-energy-2013-2

Typically, homes undergo costly renovations to keep them up-to-par with newer homes, which employ the latest technologies to make them, among other things, more energy efficient.

www.Ymotivate.com

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41   Philistine   2013 Feb 15, 3:59pm  

dublin hillz says

I hope I never have to live in an "old" place again. Sometimes it seems like older dwellings have a certain odor about them

Depends. Our place was built in 1928, but the LL refinished the floors, replastered the walls, redid the baseboards (period appropriate moldings), and painted the entire joint top to bottom. It has no musty smell as a result, and it has all the polish of a new house but with the sincerity and charm of real architecture from 85 years ago.

42   curious2   2013 Feb 15, 4:34pm  

zzyzzx says

Exactly how does one do this?

One calls a company that specializes in it. They jack up the house, slide it to one side, dig the hole, pour concrete basement walls and foundation, then slide the house back into position on top of the basement. Surprisingly, it can cheaper to add a concrete basement than to raise the height of an attic in a wood frame house. Jacking up a house and moving it requires specialized expertise though; I would never recommend it as a DIY project.

43   nope   2013 Feb 16, 2:06am  

zzyzzx says

FortWayne says

new houses aren't structurally better out here

I'm thinking that generally speaking, newer houses are structurally much worse than old houses.

Not even remotely true.

New houses are plywood sheathed to provide better shear strength, making them stand up to earthquakes and wind damage much better.

New houses use thicker Sheetrock, providing better fire protection, noise insulation, and protection against dings.

New houses usually use 2x6 studs while older houses used 2x4. 2x6 means more room for insulation and more structural support.

New houses use engineered I beams, OSB subfloors, etc.

A properly built new home will have much better structure than any old home.

44   bob2356   2013 Feb 16, 2:25am  

REpro says

curious2 says

Previous generations tended to build farther back, on higher ground.

Really…, ask “Sandy” victims.

Many "Sandy" victims houses wouldn't have been there without federal flood insurance. Most of the buildings in the old days on those barrier islands were summer shacks, not nice houses. No way in the days before federal flood insurance average people could have afforded private flood insurance (if it could be bought at all) in those area's.

45   NDrLoR   2013 Feb 16, 3:30am  

curious2 says

Older houses tend to require more maintenance costs and labor

Boy I found that out! Last year I had to replace my sewer line from the back of the house out to the city line. I noticed the same kind of work going on last week at a house about the same age as mine on the corner down the block from me--at least they lasted 63 years!

46   REpro   2013 Feb 16, 6:19am  

P N Dr Lo R says

curious2 says

Older houses tend to require more maintenance costs and labor

Boy I found that out! Last year I had to replace my sewer line from the back of the house out to the city line. I noticed the same kind of work going on last week at a house about the same age as mine on the corner down the block from me--at least they lasted 63 years!

Not only had your part connection to city sewer got old. The city sewer and water line on your street is getting old as well. Have you seen street sewer back-up?
From another perspective: when rent go south, tenant are living old properties for favor of newer once, because they simply can afford it now (only superb location can retain tenants).

47   zzyzzx   2013 Mar 21, 2:12am  

curious2 says

zzyzzx says

Exactly how does one do this?

One calls a company that specializes in it. They jack up the house, slide it to one side, dig the hole, pour concrete basement walls and foundation, then slide the house back into position on top of the basement. Surprisingly, it can cheaper to add a concrete basement than to raise the height of an attic in a wood frame house. Jacking up a house and moving it requires specialized expertise though; I would never recommend it as a DIY project.

I was thinking more along the lines of this:
https://www.youtube.com/watch?v=blDyrmNtxwA

48   Y   2013 Mar 21, 2:34am  

cheap efficient solar panels with high efficiency battery technology.
maybe 20+ years out to reach the 'cheap' stage...?

JodyChunder says

I predict that in the future, there will be a solution people can take which will allow them to live in any climate almost totally free of discomfort. Discussions about energy efficiency and insulation will be like discussing buggy whips or the most efficient way to crank the tin Lizzy.

49   BoomAndBustCycle   2013 Mar 21, 2:46am  

robertoaribas says

I end up living in older homes, because they are in the convenient neighborhoods I like, but there are tradeoffs.

In big cities... you simply don't have the option to buy a newer home.. Unless you want to tear down the existing home and build a new one from scratch... That stands out like a sore thumb in the neighborhood of 1950s tract housing. I see this in my neighborhood of 50s tract homes... There's a couple extravagant early 2000s Spanish style homes sandwiched between 1950s cape cods and Eichler's. Looks odd.

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