I've lived in both. IME, your estimate on the remodel is probably under estimated. Plus the older home will probably have less insulation, smaller closets/less storage, and electrical/plumbing problems. I understand the draw to an older home, but they can be huge headaches. I'm definitely happy to be in a newer home now.
I would look over the inspection on the older home very carefully before proceeding.
The newer house is on 1.5 acres. The back yard is definitely big enough to put a pool in, which I've always wanted to do. The older house is on a really small lot (like .25 acres I think). However, it is close enough to the stuff you mentioned that we could easily walk there which you definitely couldn't do with the newer house. We'd have at least a fifteen-twenty minute drive everywhere.
I'm torn. I feel like I'm leaning more towards the new house but DH is really sold on the old one.
Honestly, I'd probably pick neither given that additional information. DH and I had experiences while house hunting where one of us loved one house, but we didn't purchase until we both loved the same house.
For me, I'd lean toward old house all else being equal. I've just seen too many cases of very poor quality construction in newer homes. Walkability is also a major selling point, but 0.25 acres is pretty small as far as lot sizes. Since you want to add an addition, have you verified that your codes would allow you to do that on a lot that size? (We actually have a smaller lot than that, but it's the one thing we wish we could change.)
Post by orangello on Sept 26, 2012 11:35:06 GMT -5
You can refinish the floors with inlays - there are companies who specifically do older floor refinishing and restoration, and are able to find wood to match if boards need replaced. It's not as cheap as some America's Best hooha, but they'll do a good (and correct) job.
You can also definitely add additions to older homes, and do it well. Make sure your architect has experience with that, and is able to preserve and match details and materials, including exterior finishes. Nothing looks worse than a shoddily done new addition to an older home.