Junkstruction
I have a completely unproven theory I would like to throw out there and see if anyone agrees or disagrees.
It seems to me that a lot of housing has been thrown up very quickly the last few years. When this type of thing happens, a lot of new workers hire in, and they tend not to be as skilled as the long-term workers. So I have a hypothesis that the housing built since 2003 will be lower quality than that built in say 1995.
Five years from now, will people specifically avoid homes and condos built in 2006?
It seems to me that a lot of housing has been thrown up very quickly the last few years. When this type of thing happens, a lot of new workers hire in, and they tend not to be as skilled as the long-term workers. So I have a hypothesis that the housing built since 2003 will be lower quality than that built in say 1995.
Five years from now, will people specifically avoid homes and condos built in 2006?
Comments
That said, there are a lot of good builders that will give you excellent quality even at an entry-level price. You just have to make sure you do a lot of research on both the builder and the supervisor who will be responsible for the construction of your home. If I were to ever purchase something new I would first find out who the Super is that will be working on my home and then I would find communities where he has worked before and go see the homes first hand and talk to people who have lived in the homes for several years. Most people who buy new also never think to have construction of their home videotaped and have a building inspector look at tape to make sure everything is looking okay as construction reaches major milestones.
Bottom line is I agree there's a lot of junk out there but there are also ways to ensure that you get a quality home from a good builder even at a reasonable price.
One thing that I often wonder about new construction is not so much if people will eventually be turned off by the quality of the home but more by the size of the lots that the homes are going up on. Is a decent sized yard becoming a thing of the past? Do people really prefer having a tiny lot and a community park that they don't have to maintain? I think this would have more negative impact on resale value if it turns out that people do in fact prefer a larger yard.
I would agree with this statement, but with one caveat. What stands out in peoples minds tend to be the extreme cases. My GM car broke down after 30,000 miles. My Toyota went 250,000 miles on just oil changes and new tires. That type of thing.
Also, people organize on whatever brand is easy to recognize. McDonalds, Microsoft, Walmart, and Home Depot are easy names to remember. They post their names all over the place as soon as you enter a store or run their OS. Home builders (currently) do not. I generally can't go into a friend's home and know who built it. People will probably differentiate between SFH and condos for instance. But the difference between Quadrant and some smaller builder with probably be too much for most people to figure out.
All of that was meant to point out that I think if 5% of homes built during that period turn out to be true money pits (I.E. falling apart, appliances fail, walls rot out), they could out-weigh all the good homes from a psychological point of view.
What I have no clue about is how are those new homes? Are the vast majority of them at least average? If anyone with inside knowledge has insight, I would find it valuable.
Would it possibly be more prudent to buy a lot and build to your specifications thereby allowing some amount of control over the quality and materials?
I think again it all comes down the the builder and their reputation. Certain builders are known for quality even through the past few years. If you're buying a slightly used home from a builder who has a good record then you should be OK.
I only brought up the example of Quadrant specifically because I have seen several of their communities that are now a few years old and I was disappointed with all of them. I've also saw a listing for one of their homes that was built in 2005 and one of the selling points was "new exterior paint." Well, why on earth would you need new exterior paint after 2 years? It's because they use the cheapest stuff that will still look good for them to sell out the community and then within a few years it looks like crap. These observations and the fact that everyone at work that I've talked to who has bought a new home in the past few years has warned me about buying a Quadrant home. That said, it's quite possible they may make some decent homes but there's no way I'd take my chance on them.
Well, I can understand why Quadrant homes would be a problem. They advertise that their homes are so large that residents regularly become lost. If you were frequently looking for a lost spouse who had 'just gone to the bathroom', you would let your paint job go as well.
Quadrant is only in the puget sound area and is owned by Weyerhaeuser Real Estate which is owned by Weyerhaeuser.
DR Horton is pretty big around here.
Of the big builders so far only centex and DR Horton are here?