Expert: Dick Dennis - 6/7/2005

Question
Mr. Dennis,

My wife and I have just begun looking for a new house and, like most people, we want to feel we've done our best to get the most space and the best features for the lowest cost per square foot. How can we do this? Would it be in our interests to build? Would it be better to look for a 5-10 year old house? An older house? Any help you could offer would be appreciated.

Answer
It is typical, Scott, for younger couples, when they finally decide to own their own home, want to buy a new home or  build one. That is usually their first choice. If you can afford the costs of a new house (designing, landscaping, your own touches, etc. besides paying the monthly payments along with taxes and insurance) then by all means make it a brand new house.

You should go looking at existing houses, too. Depending on you taste, you may find one that fits your taste better than a new house. Sometimes 30-40-50-year-old houses have features new houses would never have and all you have to do is to add some modern ideas.

The only way to do it is to go out looking at open houses, for-sale-by-owners, with Realtors and new housing tracts. If you are patient you will come to realize which is best for you.

I do wish you well.

Dick Dennis    dixiedee13@aol.com