Reply to How do teardowns work, and do they really 'work'?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]And yet, those midget 50s and 60s tract homes built for the lower classes WERE STILL CONSTRUCTED MORE SOLIDLY THAN HOUSES ARE TODAY![/quote]

Are you a home builder. [/quote]

We live in one of those and we have had several builders knock on our door asking if we would sell it.  We tell them know, we are going to renovate and add on to it and they offer to do the work becuase those houses are so sound it is easy to add a second floor on and create a much better house than they can build from scratch.  [/quote]

Additions still don't pay off the same ROI as new construction and you still have an old part that needs maintenance vs the new addition.[/quote]

Not sure I fully agree with that, on new construction you will often take a depreciation hit and have the already mentioned issues of new construction like settling, nail pops, etc., all of which can be frustrating -- and "new" does not mean without flaw or not needing punch list type work or even repairs.

I represented a well known quality builder in NJ who our family dealt with for many years and the owner/president of the company even told me --- to my shock & surprise -- that he did not recommend buying a new house, even one of his ... "let someone else deal with the headaches & stress and give it a shakedown cruise for a few yrs."

Depending on what you do in an addition, you can still recoup substantial % of cost, on the work we're doing on a $500k reno/addition it projects to 65-70%+ recoupment, which means net cost of only $200k or so.  Overall less expensive than moving and paying a whole new set of closing costs, RE commissions, VA transfer taxes etc.

If the old part of the house is well maintained and sound (ours is), I'm not sure there's a huge difference in maint. between old & new (we have new systems already in the 62 yr. old main house).

And there is no question the quality of construction in our 1950 Broyhill house is better than almost all the new construction I see including many in the $1.5M -2M range.[/quote]

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