doLLArs And sense Cont’d from page 4
‘It’s really easy for a buyer to go and buy a house across the highway that’s a 25-year-old home, same size, and end up spending $40,000 or $50,000 on a renovation job’
“Everybody’s so busy, there’s no question about that,” McArthur says. Moore points out that if repairs are needed, buyers may not have enough financial wiggle room to cover costs and pay the mortgage, too. “If all of a sudden you have to fix the foundation and replace the air conditioner and the furnace and replace windows, well you’re not eligible for that loan because you’ve used your entire credit, shall we call it, for the purchase of that home,” he says.
“It’s really easy for a buyer to go and buy a house across the highway that’s a 25-year-old home, same size, and end up spending $40,000 or $50,000 on a renovation job they never thought about, whereas with a new home it’s all brand new,” he says. “I’ve sold older homes to young guys and talked to them later and they’ve just said, ‘you know, you were right, we should have bought that new home.’ ” do-it-yourself Tv shows give some people the impression renovations are easy, but in real life, there’s no master builder to come to the rescue, and most people don’t have the time to devote every weekend to home repairs.
Cont’d on page 18
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14 Parade of Homes FALL 2015
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