Newsflash: Need advise on buying a 2001 house vs new one

I live in Charlotte,NC and need to a bigger home while as I plan to rent my 2000sqft single family home.My options areNew home 3200 sqft that is under construction – 550k in a nice area but no choice of changes. The area is a mile away from my current home and in new beautiful neighborhood that has great restaurants, shopping, Lifetime fitness.The problem is that my kid (when she starts 6th grade) will have to go in the first batch of a small K8 school (10 acre) that the community is very uncertain about, given it will not have the facilities of the highly rated middle school that the area but is still expected to be well rated.The other option is a 2001 home about 5 miles away from my current home. It’s a 3400sqft brick home(as opposed to vinyl panels in new house) in good condition but looks dated. That’s listed for 460k. That area is nice too and has shopping etc close by. It also has a pool/clubhouse unlike the new one. I’m assuming possibly 20k hvac/roof /upgrades over the next 2-3 years.Given I want to be in this area, I’m going to have this dilemma about any old vs new house.Preferences aside, how would you objectively advise your client on the financial decision if I plan to stay there for at least 10 years?


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s