Why new home sales rally while existing home sales lag behind

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  • andyjaggy American Fork, UT
    April 2, 2013 5:01 p.m.

    We bought a new home 2 years ago. We weren't against buying an older home, but it was ridiculous how much people were asking for 30 year old homes in slight disrepair. It was cheaper to get a new home, we got to pick our carpet and cabinets, etc.... and of course, it's new. We were lucky enough to find a new home that did NOT have an HOA, that's a hard find these days.

  • xscribe Colorado Springs, CO
    April 2, 2013 7:58 a.m.

    mountain man: I would also add that, in my experience, newer homes just aren't built with as good materials as older homes are. I remember when I was looking for a home many years ago even, that you could put your finger right through the cheap siding on one of these cookie-cutter homes!

  • mountain man Salt Lake City, UT
    April 2, 2013 6:17 a.m.

    If the used home were completely updated, it is most likely you could not afford it due to its location. Most new homes are located far away from most work locations. You have added transportation time and added fuel costs. And now most new homes at daybreak for example come with a monthly home owners association fee.
    I will always opt for the older home that needs a bit of repair in a much more central location.

  • sally Kearns, UT
    April 1, 2013 12:11 p.m.

    If I qualify for a new home, that is what I will purchase. Used homes are overpriced considering the cost of repairing and updating. If I could purchase a used home in a good location that was overhauled with new furnace/air, carpet, landscaping, windows, plumbing, bathrooms, kitchen, etc., knowing it was all properly installed, then I would consider the used one. Otherwise, it is foolish to purchase the fixer upper unless you have the skills, equipment and supplies to complete the work before moving in. That is if the cost of the home is not overpriced.