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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 |
What is the world's most capacious building?
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The Boeing Company's main aircraft assembly plant in Everett, Washington, has been expanded to a capacity of 13.4 million cubic meters, or 473 million cubic feet. |
 See More Real Estate Trivia > |
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The Carlson Real Estate Team
Hampton Roads Realty Pros Inc. / Keller Williams
1100 Volvo Parkway
Chesapeake, VA 23320
757-328-0174
Fax: 757-430-3350
chriscarlson@cox.net
Led by Chris Carlson, a military veteran and 2010 HRRA "Circle of Excellence" award winning agent, we use the latest technoglogies, market research and aggressive business strategies to exceed your expectations. Our website is full of information regarding homes for sale in Virginia Beach, Homes for sale in Chesapeake, Suffolk, Portsmouth, Norfolk, Newport News, Hampton and the perfect place for your real-estate search. Our website updates daily to include all the newest homes for sale in Virginia Beach, foreclosures sale and bank owned sale. Whether you are looking to buy or sell, we have professionals from every facet of the real estate industry, from lenders to settlement and insurance to property management that will help guide you through the entire process.   
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