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Houses

Submitted by David Kuck on March 5, 2008 - 14:06.

I think the house depreciating $70k after a couple years is a huge exception rather than the norm. It really depends on the house price too. $70k off a $1M house is a lot different than $70k off of a $150k house.
In *general* houses do appreciate rather than depreciate. I would wager that a used house in that same area would have taken the same hit in value as a new one.
It may be a slightly better value to buy used though due to some of the "better than new" upgrades like storm doors, gutters, water softeners, etc.
As a person with pet allergies though, I found the peace of mind that no pet dander would be bothering me was well worth not having an existing storm door or water softener.

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