Real Total Cost of New Home?

NEW -> Contingent Buyer Assistance Program
hs teacher:

I know what you mean. I have been to open houses in Floral Park and almost all the homes have tiles dated back to the 1930's and kitchen stoves dating to the 1950's.

I have a TV that's 15 years old. It still works so why buy another. =)
 
hs_teacher - when did old houses equate to being poor? I grew up in a house built in 1939 and my parents still live there. It is no mansion but I wouldn't consider my family poor. We grew up middle class.

In any case, I didn't start this thread to figure out how to keep up with the neighbors but rather, to help me and hopefully help other people factor in the true cost of buying new. Unlike a car, houses have too many customizations and options to easily compare with each other. However, if we can come up with some common items one would need after purchasing a new house, people can narrow the gap between properties and hopefully make a smart decision.
 
rkp,

My experience have been this. We purchased new back in 2005. It was a condo/townhome, so no need for the landscaping. But the interiors we upgraded: hard wood flooring, kitchen counter top, upgraded carpet for the bedrooms, upgraded faucet/sinks, etc. It was crazy to think that even the door handles had to be upgraded. We chose independent contractors rather then the builder's design center. Although, we saved on the cost. It was alot of stress dealing with the contractors. After that experience, my wife and I probably will deal with the builder for the next home. Main reason is due to delays with the contractors, we technically, didn't move in till 1 month after closing.

We chose not to purchase a "resale" because of the unknown. Such as future repairs for such thing as the plumbing. We just didn't want to take a chance.
 
Furthermore, had we purchased a "resale" we most likely would have replaced everything anyways. And it's not about competing with the Jones. But rather of personal preferences. If the previous owner had green carpeting. And green is not our color of choice, we would have changed it. If the wall paint is pink, we would have changed that. If the kitchen appliances are white and we preferred stainless. We most likely would replace those items.

The point is. Even with a "resale". There's going to be cost of updating the place.
 
rkp,

I think it will be difficult to come to a consensus on what people want and what people need. Everyone will have different opinions. Personally to me the most important is location, size, single story and the layout. I have to have the kitchen and the garage connect directly. After that I can make and do the changes as needed.

I think it would be best to list what you need and list what you want and then we can compare apples to apples. When buying a resale you will have to sacrifice some of the needs and wants whereas a new home you can just get it and pay for it. I think you bring up a great point but it will be on a personal basis as to what it is you are comparing to.

Not to continue to highjack your thread but have any of you been to IAC's Bordeaux? I can believe the cars there and of course they can't park them in the garage.
 
"I have been to open houses in Floral Park and almost all the homes have tiles dated back to the 1930's and kitchen stoves dating to the 1950's."

The 1950's stoves are trophy ovens. If they were not replaced by previous owners, they were likely purchased as a restoration in the $6K - $15K range. Believe me, I've looked.

The 1930's tiles are classic. I've seen people who have replaced those and "Irvinized" the house. They essentially broke the style of the home. Very, very sad.
 
Evalseraphim,

You're right. The real estate agent informed to keep things the way they are. It's what make these homes unique.
 
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