Tag: old homes

New Construction vs. Older Homes: Finding Your Match

Posted on by Sofia Gallamore

If you came here for an easy answer, I’m sorry to disappoint you right off the bat. However, there really is no “right” choice between a new construction home and an older one. The best option depends on your lifestyle, needs, and current situation. For our purposes today, we’ll define “older” homes as those built before 1980. This was around the time when homebuilding practices changed with regulations on materials like lead-based paint and asbestos. Now, let’s dive into the pros and cons of each!

 

Advantages of New Construction

  1. Turnkey
    With new construction, you don’t have to worry about replacing stained carpet or refinishing the wood floors before moving in. If you’re not one for taking on home projects, the luxury of not having to do any renovations upon move-in is huge!

  2. Energy Efficiency & Up-to-Date Codes
    Builders design new homes with energy efficiency in mind, often equipping them with the latest tech, like high-efficiency windows and insulation. They also follow current building codes, reducing the need for short-term upgrades and helping to keep energy bills lower over time.

  3. Builder Incentives
    New construction homes sometimes come with financial incentives. Since builders have sales quotas, they often offer things like rate buydowns or closing cost assistance in order to meet them. This can provide you with some welcome savings, especially if you’re buying when rates are high.

  4. Customization Options
    While they’re often built on spec, new homes sometimes allow for some customizations, like choosing finishes or exterior upgrades. Want a chef’s kitchen or that perfect bathroom tile? You might get to make those choices if you buy at the right stage.

  5. New Home Warranties
    With a new build, you typically get a warranty from the builder, giving you coverage for certain defects or repairs during the initial years. This can give you peace of mind, especially with larger systems like plumbing or electrical.

 

Disadvantages of New Construction

  1. Not All Builders Are Equal
    Quality can vary significantly depending on the builder. It’s essential to research the builder’s reputation, ask for reviews from previous buyers, and consult with your agent. Many people assume a new construction home won’t need a home inspection, but that’s a myth. According to a 2022 study by the National Association of Realtors, nearly 1 in 4 home inspections on new construction revealed major issues, most often related to HVAC systems or safety. With tight deadlines and fully booked contractors, some details can slip through the cracks.

  2. Potentially Higher Price Tag
    New construction can be priced higher than resale homes. However, this isn’t always the case, as some builders adjust their pricing depending on market conditions. With rising interest rates, some builders are pricing competitively to attract buyers.

  3. Less Character and Charm
    Builders often design new homes to appeal to a broad range of buyers, which can mean they lack the unique features of older homes, like intricate woodwork or custom-built shelving. If you’re someone who loves character, this is really something to keep in mind (and something you may already understand about yourself already!)

  4. Flexible Timeline Needed
    If you’re buying a new build that’s still under construction, you’ll need to be flexible with your moving date, as construction delays can happen. This is especially something to keep in mind if you’re navigating this purchase while also selling your current home.

 

Advantages of Older Homes

  1. Established Neighborhoods with Character
    Older homes are often found in neighborhoods with a more mature, established feel. You might find tree-lined streets, unique architecture, and a tight-knit community vibe that new developments may not offer.

  2. Great for DIY Projects
    Many older homes have the potential for DIY renovations, letting you add your own flair. If you’re handy or enjoy home improvement (or are looking to grow your skills), an older property may be a perfect fit.

  3. Room for Negotiation
    Older homes typically offer more room for negotiation, since the majority of the time you’re working with a private seller and not a company. If the home needs repairs or updates, sellers are often willing to work with you on price or closing costs.

  4. Unique Architecture and Materials
    There’s a reason people say, “They don’t build them like they used to.” Older homes often used old-growth wood, which is lumber from trees that grew for longer, making it denser (more rings!!). This old-growth wood is more resistant to warping, rot, mold, and even has insect-repelling properties. If you’ve toured an older home with me, you’ve more than likely already heard me nerd out about this, lol!

  5. Larger Lots
    Many older homes are built on larger lots, a big bonus for those with pets, or if you just prefer a spacious yard, garden, or outdoor entertainment area.

 

Disadvantages of Older Homes

  1. More Maintenance and Repairs
    It’s no secret that older homes often need more upkeep. You might be looking at replacing or repairing larger systems like roofing, plumbing, or electrical. These homes have had years of use, so more significant wear and tear is expected.

  2. Unknowns in Property History
    While a thorough inspection can identify most issues, some problems—like past neglect—may only be uncovered over time. This adds a layer of uncertainty, especially if the home has been through multiple owners.

  3. Outdated Codes and Systems
    Many older homes weren’t built with today’s building codes in mind. Common issues include outdated wiring or galvanized steel plumbing. In addition, we often see repairs done over the years that were done incorrectly (someone decided they could watch one youtube video and be an electrician). These issues can require costly corrections or upgrades, which can add to your overall investment.

  4. Possibly Unfavorable Floor Plans
    Older homes sometimes have floor plans that feel a bit cramped or don’t suit a modern lifestyle. Tiny kitchens, small bathrooms, or a lack of open-concept spaces can be a challenge. While remodeling can address this, it’s something to consider if you’re looking for a home that’s already optimized for today’s living standards.

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Choosing between a new construction home and an older one ultimately depends on your lifestyle, preferences, and budget. Both options have their unique appeal and drawbacks, but whichever path you choose, it should suit you and your family’s needs.

If you’re curious about which may work best for you, I’d love to sit down and chat about my experiences with both. Buying a home is a big decision, and there’s a lot to consider, so feel free to reach out with any questions or for a personalized consultation.

Let’s find the home for you!

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Check out my full website here!

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Vintage Garage Vision: EV Charging!

Posted on by Lita Batho
Classic 1940 Garage

I have a confession to make: I owned an older Portland home for many years before I felt confident to park in the garage.  The small detached garage, facing a narrow alley, seemed like it might be tricky to maneuver a car inside.   Years went by, and I used the garage mainly for storing outdoor furniture and garden supplies. It was only when I purchased an electric vehicle that getting the car inside became important to me. Why? EV Charging of course!

My second challenge: the garage had no electricity, and was 30 feet from the house.

For a moment I was unsure of how to begin.  However! Having navigated dozens of inspection/repair contingencies, pre-listing home preparations, and unexpected challenges, I knew that the goal of charging my car at home was likely easily achievable.

The Preparation

First, I called an electrician. (If you ever need a referral for a contractor, painter, plumber, roofer, electrician, window person, etc- ask your realtor! We will have suggestions for you.)  My licensed and bonded electrician gave me a bid, and explained how the project would work, and to get started, asked me if I knew someone who could dig a trench: of course I did!

Whenever a project requires digging,  call before you dig!  The utility companies will come out and mark any utility lines on your property.  This is a critical step, to prevent digging into a gas, electric, sewer, or water line. Call 811, or 1-800-332-2344 a minimum of two days before starting any digging project.  In my case, this are area was free of utility lines.

The Trench

To dig the trench, I hired a trusted landscaper and his team. Although I considered doing it myself, or renting a trench digging machine, letting professionals do it proved to be fast, reasonable, and efficient.  It took just a few hours for a few people to dig through the rocky soil by hand, with picks and shovels.

Finally, the Electricity

Once the trench was in place, the electrician returned to install a conduit and the electrical lines.  He installed a subpanel in the garage, along with a light (let there be light, for the first time, in my garage: it’s fun to appreciate small things!) and a couple of outlets, including one 240 volt outlet placed to accommodate an EV Charger.   I mounted a new EV charger on the wall of the garage, plugged it in, and was all set!   It felt like a transformation to be able to not only turn on a light, but also charge my car in the garage.

*in case you notice that the roof of the garage looks rough in the photos, that was the next project!

 

Does “AS-IS” really mean “AS-IS”?

Posted on by Living Room Realty

Agents and Buyers perk up…..

We currently have a house listed in North Portland that needs about $100,000 in work.  The home is cute on the outside, good location, nice curb appeal, etc.. On the outside, it looks might it just need a new roof and some new paint.  But on the inside it’s a train wreck.  It needs EVERY SYSTEM replaced. Plus, it has a leaking underground oil taken and busted sewer line.  We marketed the house stating all of that – train-wreck-house – beware.

Here is my pet peeve.  We marketed this house “AS-IS” – meaning the seller is not to do any repairs.  I even wrote the following in the private RMLS remarks: “House is AS-IS (for real). Needs MORE then elbow grease. Please see attached addendum for list of known repairs w/numbers. Do NOT write an offer if you plan on asking for something. If so, this is not your house – move on.”

Today we received an addendum asking for $13,000 in credits from the buyer’s agent.  The buyer’s agent stated to my partner over the phone – “We’ll you do know that AS-IS is really never AS-IS?.  We all know that no one abides by that.  Come on… this is real estate.”   ———–    (ummm… that’s the attitude that leaves a bad taste in one’s mouth.)

Here’s the deal.  We believe in integrity.  Our words hold weight.  All you have in life is your WORD, so make it count.  If you don’t make your word mean something then people will never trust you.

If I write or say something is “AS-IS” then that is my word.  You can ask all you want, but that doesn’t change what was clearly stated.

Integrity and Word.  They go together.

Don’t Take the Sellers Word Regarding Warranties —

Posted on by Living Room Realty

Every time you make a big-ish purchase — like a TV, home appliance, furnace, new windows, roof, sump pump etc,  — you’re offered an extended warranty on the product you have purchased. The extended warranty covers repair beyond the manufacturer’s warranty expiration date, usually by a couple years, but it requires an additional fee.  Most of us turn it down, unless a past experience reminds us that we ‘wish we would have purchased one’ when our dryer died on month 13.

If you’re moving into a house with existing appliances or newer systems, make sure you or your buyers agent looks into the warranties that the seller believes are set in place.  Recently, my buyers were under contract on a home that had a sump pump installed by Terra Firma.  The seller understood her warranty on the system to be 10 years from the time she had it installed, an added ‘perk’ to the sale that “clearly should add value to her home”.  Unfortunately, when I called the company to get the paperwork on the unit and read the entire contract (two pages of small type), the unit was under warranty for ONE year (which is normal).  The seller would have had to have paid an additional $3000 for a 10 year warranty.  Something she opted not to do (but didn’t remember). As such it is important to have the contacts of repair shops where you can approach people to repair your dishwasher, fridge, pumps and everything in between. It is important to be independent in such matters because sellers cannot always be believed.

Had we not caught that fine detail, my clients would have purchased a home with only one month left of coverage on a unit that pumps water from a basement and we were heading into fall rain. There is nothing like feeling like a sucker if something goes on the fritz right after you move in.. Besides, you have plenty of other expenses when buying a new home. The last thing you need is to replace an appliance you thought was in good working condition.

We negotiated a 10 year warranty.

Now I can sleep better.

Check the paper work and warranties that you are offered.  And if there is NO paperwork, then call the companies that did the install.

Selling a Home with Tenants that are Uncooperative

Posted on by Living Room Realty

Nothing says “don’t buy me” more than a rented listing with tenants that are grumpy, uncooperative and live like slobs.  If there is a chance to list a property as VACANT, before you re-rent and allow new tenants to move in, sell it as vacant.  If your tenants are uncooperative, it may be better to offer them an early release from the tenancy and pay their moving costs.. Some tenants prefer to choose the timing of their own move over the uncertainty and disruption of the sale process. You will be missing out on the rental income, but you might be able to sell for a higher price with the property unoccupied and staged with nice stuff.

 

It might be a win-win for both sides.  Let’s face it; most tenants facing the sale of their ‘home’ are likely to be less than happy about the process. An unhappy tenant can cause some serious grief for you and your agent, potentially hampering the sale process and impacting on your profit.

 

Sell it when it’s VACANT.

A Shout Out to Another Agent —–

Posted on by Living Room Realty

Real Estate Can be Transaction Based or Authentic Based.. Or BOTH.

I never knew when I got into Real Estate that so much of a REALTORS® job hinges upon the agent on the other end…

Just as important as the underlying sales contract which was signed in ink, is an ongoing social contract between the buyer’s agent and a listing agent.  As realtors, we don’t get to choose who we get to work with.  Our clients choose us, but we don’t choose the other agent. Expectations for how we will work together: norms for communication, decision making; how unforeseen events will be handled; dispute resolution; conditions and means for renegotiation; and the like are unknown from the start (unless you have worked with that agent in the past).  Sure, we are required to work from a code of ethics, but there are still some rotten apples in our industry, agents with BIG ego’s that are unresponsive, inflated, over-confident or lazy.  Most of us that have been doing real estate for awhile have an “A” list of agents we love, and a “D” list.  Some have “F” lists too. Thankfully, mine only has three names on it.

The best real estate agents follow the common goal of closing on a home but also have a clear focus on being genuine to one another. In a genuine relationship, both parties are responsive to each other regardless of the situation. Both sides can negotiate their clients needs – but do so fairly.  A transaction can become more personal when an agent takes the time to share a fuller picture of their client and their client’s fears. Building authentic relationships in real estate is not complicated, but it does take patience and a shift in focus. Instead of measuring success by the number of deals closed, we can measure it in smiles and gratitude.

I have another “A” agent to throw onto my “A” list.  Charity Adams.  She worked hard to facilitate a safe environment for her client to feel heard.  My job was to listen.  The result – A happy buyer and a happy seller.

Hello Craftsman

Posted on by Living Room Realty

My dear friends, Klaudia and Trevor, scored this beautiful old craftsman in Piedmont. Having spent the past few years completely renovating their previous home they were very clear on what they were looking for when it came time to scale up. We saw a select few, and really lovely, properties over a couple of months but this beauty was the ultimate winner. Check out the detail on the original buffet, it’s swoon worthy. Congratulations you guys!

 

If you are interested in making a move to a gorgeous home, give me a call!