One major issue when buying a home is deciding whether to purchase an old home or a new one. While newer homes tend to be larger, modern, and in tip-top shape, older homes feel homely, are more affordable, and it’s easier to detect problems and fix them.
According to data from Trulia, Americans go for newer homes when there is no difference in price between the old and the new home. However, your choice depends heavily on your needs, budget, lifestyle, and plans. This post covers the advantages of a new house vs. an old one.
Advantages of Buying a New House
- Fewer repairs: Buying new house generally means the house is in perfect living condition. Since it’s not been used, you’ll likely not carry out any major repairs in the first few years.
- Energy-efficiency: New homes are equipped with modern materials and systems like heating and air conditioning systems that meet the set requirements.
- Larger living spaces: Newer homes aren’t always bigger than old homes. However, with modern floor plans, customizable storage spaces, and versatile layouts, larger families can enjoy plenty of entertainment or engage in different activities in one room.
- Customizable: You can adjust your new home to suit your personal style and preferences. Before moving in, you can decide to change appliances, paint colors, carpeting, and anything else that you want without altering the overall look of the home.
- Up to code: When building a new house, contractors must ensure they stay up to code. Those codes dictate how you should build a home from the ground up to the day you’re handed the keys.
- Warranty: New houses have a warranty for protection against defects in workmanship and materials.
Advantages of Buying an Old House
- Established neighborhood: If you have a big family, buying a home means considering the availability of parks, schools, and malls. Older homes will likely be situated in beautiful neighborhoods with specific reputations.
- Mature landscaping: Large mature trees, well-developed lawns, and extensive gardens can make your space look beautiful and peaceful. When you purchase a new house, you will start growing everything from scratch, and those enormous trees can take up to 20 years to grow.
- You can renovate: If you’re a renovation enthusiast, you can purchase a cheaper old house and renovate it according to your needs. Renovations help give an old house your personal touch and style. Most renovations help increase the home’s value.
- Long purchase history: Some people prefer to buy homes with proper property appreciation value over time. Even though the past doesn’t guarantee the future, this information generally indicates whether the house you’re buying is an excellent long-term investment or not. New homes don’t have a previous owner or owners, meaning there is little information to make an educated purchase decision.
Looking to do a complete home renovation or house additions soon? Trust Joe Myers Construction Inc. to get the job done. We go above and beyond, work closely with you, and provide you with everything you need for your project. Contact us today to learn how our services can improve your home.