Condo: value of old builds vs new builds

[oz388]

Originally posted by whiskas
at all the "newer is always better" talk.

There are many boom era condos out there that are less than 10 years old with huge special assessments. Either to repair builder mistakes, or to pay legal fees to sue the builders who made the mistakes.

Example: you'd be better off in a 70's/80's era condo than any of the "new" condos that POV built in the last 10ish years.

Obviously you are not in building/engineering business and have no idea how much building technology, material, design, code and specifications have been improved over the time.

For any building/house the value decreases over the time just like cars; only the land and location that it's built on increases the value in long run due to increasing of the population and surrounding developments.

If you are going to pay the same price at the same community, choose newer building is always better than choose older ones, ask yourself.

[gwill]

Quick let's all go buy a Carlisle condo or point of view as they were known because new is always better. Glad purchasing a condo is that easy.

With advice like this how can you go wrong? Glad the op has a brain and is at least asking some questions about his potential purchase.

[oz388]

Originally posted by gwill
Quick let's all go buy a Carlisle condo or point of view as they were known because new is always better. Glad purchasing a condo is that easy.

With advice like this how can you go wrong? Glad the op has a brain and is at least asking some questions about his potential purchase.

I will take a POV condo built today over any condo built in 70/80s at similar location and price. No question is required since chance of sh!t happening is the same for any building and new is always better than old imo.