Oh boy KC, just read your whole post on older homes. Did you ever here of the catalogue home of about 100 yrs ago? Sears did a lot of them. One could buy the whole package real cheap and slap it up. So many looked alike because they were. Out of the same catalogues. Not as many left now. Didn't stand that long or look very good.
And building codes were almost non-existant. Many homeowners nailed those puppies up themselves. The rehab over the yrs was incredible.
You're right, a home depreciates. The one we tore down had about 50K work done to hold in up in the 60s cause it was condemned. Neighbor told me. And it was still a mess.
You're also right about a builder (today, anyday) putting the absolute min. in a new home for spec. But that is more than was required 100 yrs ago. You don't see the cheap houses built then because they fell apart and were torn down. What is left is the best or best cared for. They usually look good on the outside cause of the brick (fire prevention).
*) 2x6 studs instead of 2x4.
*) 16" or 12" joist spacing rather than 24"
*) TJI laminated joists rather than 2x10's
*) plywood subfloors rather than T&G OSB
*) plywood sheathing rather than wafer board
*) wood rather than vinyl siding
*) conduit rather than nomex/romex
*) etc
Question1: assuming it was speculative built, are most builders sure they can recoup extra ROI for the higher quality?
Question2: will the average buyer unknowingly pay almost as much for the house built with inferior materials as they would pay for the quality home?
Question3: if you were building a spec house that you planned to sell quickly as a business deal, would you use the same quality of materials as if you were building a house for yourself that you planned to stay in for many years?
Question3a: If building a house for yourself which you thought you might flip in 5 years, would you put as much quality into it as if you planned to keep it and hand it down to your children?
Question4: Considering that many small private homebuilders are better at construction than they are at business and cash-flow management (not referring to you personally) then even if they agreed to use quality materials in a non-spec custom-built house, how many hit cash-flow crunches which force them to cut corners which violate their contract with the buyer, but knowing that buyers often won't catch most short-cuts until it is too late?
I'll just answer these quick and the answers are general and there are exceptions in any era.
Old houses were built with 2X4s. Outside walls usually 2 layers of brick. Soft sand inside, and fired facing out. This is not up to code today. Best wall is double 2X4 so you have an air gap for the house to breath and be better insulated. Less mold too. Only problem is to solve fire blocking issue.
Floor joists or TJIs are the norm for most projects because of span and warranty issues. I still like Doug Fir 2X10s or 12s.
I hated OSB when it came out, but must admit it is better than plywood. I finally switched over. OSB is stronger in 2 directions and doesn't require the same cross bracing as ply. because of xtra structural integrity. But it is slippery and eats up the hands.
The fake wood decking is some super stuff. Much better than cedar or redwood.
For walls I like stucco or brick. I don't like pressboard. Too cheap, short life.
Pressure treated lumber on concrete is superior to the old wood sills.
Wiring has just gotten better and better. No conduit 100 yrs ago in Res. Bronx cable sometimes used, but no ground wire. Uncovered rag wire from 100 yrs ago was a real fire hazard, squirrels, heat, accidents, etc.
Question 1. No. Most buyers not savvy enough or care enough to pay the price.
2. Yes. Remember upgraded building codes though.
3. Heck NO. Not in this for charity.
3a. Not many homes handed down to kids in the mobile US. But I have seen some and they are excellent. Beautiful work that costs way too much today. Some craftsmen were much better then than now, especially tile and plaster/stucco. Look at our crews now.??? Pretty sad.
4. Spec homes have been built for a real long time. Many specs 100 yrs ago. Maybe most homes. I don't know.
The really nice old homes you see were built by wealthier people. They may even look modest today, but back then they were the upper middle class or highend.
I'm no fan of tract homes. But if that is what the avg. public can afford then??
I build customs and highend. Much more satisfying. Tract homes are just numbers and money machines. The intense building codes keeps builders pretty honest. Most of the glitz is on the surface in most homes. A middle class tract home is pretty good really. You'll get a solid 50 yrs before much goes wrong structurally. Fix up is easier now too, more access.
....chances are you could make some good money on the book itself. Some are selling for in excess of $50 from what I hear. Check the link: