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Buying Land and New Construction >Buying New or Buying Old
New homes typically have a higher sales price than comparable existing homes, and buyers are usually willing to spend more on a new home because of lower maintenance costs. Builders' warranties on new homes, when combined with a new roof, appliances, and major systems, usually make major repairs unnecessary and help to counter a slower initial rate of appreciation.
Census Bureau Housing Surveys suggests that operating costs are lowest for brand new homes and slightly higher for relatively new existing homes. Operating costs per square foot of living space are consistently higher for progressively older existing homes. Utility costs represent the largest factor in operating costs. Energy consumption per square foot depends on the size of the home, the insulation and quality of the windows, air leakage and the efficiency of the furnace.
New homes require fewer expenditures for routine maintenance. The cost of maintenance first increases with age, then declines, so you will generally spend less maintaining a home built before 1960 than for a home built between 1970 and 1975.
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| Q |
Why is the Terra Amata site in Nice, France famous?
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| A |
Remains of 21 huts found in 1965 are thought to be the oldest known habitation from the Acheulian culture 400,000 years ago.
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Bradley E. Arnowitz PA, RPS, CLHMS
Arnowitz and Associates
Re/Max Beach Properties
1355 Alton Road, FL 33139
24/7: 305.776.6113
Office: 954.883.3700 x 122
Facsimile: 305.402.0707
ClientCare@ArnowitzProperties.com
Re/Max Hall of Fame
Founder, The Institute for Luxury Home Marketing
Renowned Property Specialist
Certified Luxury Home Markeing Specialist
Voted "Best Local Realtor" Miami Sun Times
Miami Beach Area Council Chair, Realtor Association of Miami & The Beaches  
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