When looking to buy a home, would you prefer a home with a customized design built with the latest technology and design or a previously owned home that would need fix-ups, paints jobs to get dog smell out of your house.
Nevertheless, buying a new home or an old home is solely a primary personal decision that you have to make when looking at a home. Some first-time home buyers would prefer old homes embraided in ancient architecture ranging from thatched cottages to antique mansions while others would consider the 21st-century modern architectures homes with modern smart energy-saving systems, enhanced security and with furnished, spacious, airy and well-lit rooms. Do homes get better with time like a fine wine or is it better to buy a modern newly built home? To answer these questions that has always been under intense debate, let’s examine the pros and cons of new homes and old homes and later on establish a verdict.
Old Homes
Pros
- High-Quality Construction Materials- The sole reason why old homes are still viable for living today is that they must have been constructed with high-quality, durable construction materials. Well-built old homes are usually built with ancient natural old lumber which has stood the test of time as they were explicitly designed to withstand treacherous weather conditions. Newer homes are constructed with engineered wood which sometimes may not be durable and may require constant replacements which may end up being costly.
- There Uniqueness brings character, and charm-Old homes are undoubtedly unique thanks to a range of beautiful architectural styles including Mid-century, Colonial, Victorian, and Spanish which are not found in new homes. These ancient architectural designs make old homes stunningly unique bringing a sense of a personalized character and charm from not seen in a newly constructed home.
Cons
- They may need costly renovations- Most utilities in old homes may be non-functional and certainly requires renovations or an entire replacement. For instance, you may need to replace the kitchen and bathrooms, the whole plumbing system among the utilities. The replacements and renovations may end up being costly even surpassing the value of a new home.
- Old homes may contain toxic materials- Old homes were built in ancient times before certain materials were established and declared toxic to humans. Some of these toxic materials include lead-based paint and roofs which was banned by the EPA in 1978 for being poisonous. Old home buyers should be keen not to buy old homes containing toxic construction materials by hiring home inspectors to carry out inspections on old homes to ascertain the absence of these toxic substances which may be fatal.
New Homes
- No need to worry about costly renovations and replacement-New homes are spanking new with newly installed functional utilities. Unlike old homes, you don’t need to worry about renovating outdated finishes or replacing broken appliances and equipment which are indeed costly.
- Spacious furnished rooms and modern floor plans- Ancient architectural designs may look unique but may not be ideal for modern living as the design tend to involve small rooms in addition to a closed off floor plan. Open concept floor plans with well-lit spacious rooms synonymous with new homes are undoubtedly adorable and support the modern living.
- New homes can be customized- When buying a new home, you have an option of customizing the interior and exterior of your home with the help of an interior designer to match your preferences. This may not be possible with old homes as most designs do not support customization.
Cons
- Lack of Uniqueness- Real estate developers usually lack a sense of uniqueness as the home designs in a particular neighborhood can be similar in all aspects. If you are an individual who prefers character and a sense of uniqueness, then new homes may not suit you.
- Takes time to be built- New homes can take a longer time to be developed and therefore you should have to wait longer to move in. When buying a new home, you should brace yourself to wait at least six months to move in.
Verdict
Buying a new home or an old home can put you in a dilemma, and you may actually take a long time to decide. However, there are factors you should clearly consider in addition to the benefits and shortcomings discussed above before deciding whether to buy a new or an old home. For instance, you may want to compare the prices, state, and location before purchasing a home. Some old homes are fully renovated that they even attain a new status and therefore you may not need to worry about the renovation costs. Nevertheless, buying a new or an old hole is solely a personal decision, and you should consider consulting your trusted real estate agent before taking the next step.