This Old House Or That New One?

Once you have made the decision to buy a house, you must next decide if you are looking to buy an older, existing home or a brand new house. Regardless of whether you are looking to buy an old house or a new one, make sure you get a home inspector to examine the house first. Even brand new houses can have shoddy workmanship or hidden problems that you could be stuck with if you buy the house ignorantly.

Older homes have some distinct advantages that new ones simply cannot offer. Price is the first factor that draws most people. Usually you can find larger older homes more inexpensively than a smaller, newer residence. An older home often offers more land than their newer counterparts as well due to differing land-use patterns and the need for modern builders to maximize their return.

Depending on the location of the older home, you will likely have lower property tax rates than if you were to buy a new dwelling. You will also have an established neighborhood and landscape rather than starting from scratch. Another feature of older homes is the more traditional floor plans that they offer. This is a huge consideration for some buyers who are concerned about the flow of the house.

The opportunity to remodel an older house according to your specific taste is a scintillating prospect for those who would like to craft their dream house without the hassle of building. This may not be an option for historical homes as they are often under local regulations regarding what you can or cannot alter for posterity’s sake.

New homes have their own set of rewards as well. The chief one being that a new home will not need as many repairs or have as many maintenance issues as an older home. Some experts say that in many older homes there is at least one major system that needs updating. New homes also have state-of-the-art heating, electrical, plumbing, etc systems that may include warranties.

Because newer homes are built to higher efficiency standards they will likely have lower utility bills. Also newer homes are up to date on the latest building regulations, making them the safest choice. They are also much more environmentally friendly than older models. Newer residences boast a superior level of security features including door bolts and burglar alarms that may not come with an older house.

When you choose a new house you don’t have to be concerned about the neighborhood being in a dilapidated state. The floor plans of newer dwellings boast an incredible variety that is more difficult to find in an older home. Why live with a past owner’s purple tile if purple is not your color? With a new house, it is easy to customize and get precisely what you want.

Home ownership is an exciting prospect no matter what type of house you buy. Being informed of the potential options and deciding what your preferences are before you began looking will go a long way towards making this very big commitment as stress-free as possible.

By: Louise Scoggins