Old vs. New Home: Which is a Better Choice?
Both old and new home have their advantages and disadvantages so the question of which of them is a better choice relies on you. But there are some important considerations that you should first look at in order to come up with the best decision based on your personal assessment on what these 2 have to offer. Here are those:
Generally, an old home is cheaper than a new home per square foot. There are 2 main reasons why: first, there is an escalating land cost on the newly built subdivision; second, the addition of fixtures that are not included with the price of the home but are certainly necessary.
Old home poses a similar additional cost. This comes in the form of renovation and upgrade of the old construction of the home.
Meanwhile, there are some mandatory fees and hidden fees which you may not notice when you buy a new home. There is an existing fact that new homes are subject to snagging. Since the contractor does not cover the cost of the repairs after the sale, you will have to expect that you shoulder the necessary fee required to make your “new” home look new again. The price of an old home on the other hand is often negotiable.
Bottom line is, the price of the house whether it is old or new is not often seen on its face value so you should do your homework and search which you think is better.
Newly built subdivisions are often located at the outskirts of the city or at the top of the hill which may greatly affect your daily commute. However, newly built homes in these places are very conducive to live in since the air is fresh and the neighborhood is still not saturated compared to where the old homes are located.
Old homes on the other hand are often located near commercial establishments which may be good or bad depending on the type of community it is located.
Compromise is the key in deciding where to live.
• Design and Space
Older homes generally employ good construction space since the construction cost is cheaper in the past. This means that there are more money poured into the home which can assure the toughness of the building the fairly spacious interiors.
New homes are often designed in such a way that every square foot of the lot is used properly.
Nevertheless, these are not always the case for every home.
• Energy efficiency
Newly built homes adapt a more energy efficient type of construction by the use of modern materials including double-glazed windows and by making the walls thicker for better insulation. Sometimes, a new home comes with energy rating certificate which is required to many states.
Old home on the other hand consumes more energy for heating and air-conditioning.
Since old homes often come with a good landscaping, robust trees, and rich shrubs and bushes, a budget conscious buyer like you will certainly get the advantage when you choose to buy an old home.
Newly-built homes on the other hand require you to start from scratch and spend for the landscaping which is very expensive these days.
There are other major considerations when you are deciding whether to buy an old or a new home. These include safety, maintenance, amenities, customization, and taxes. Study these and decide which one is perfect for you.