Close your eyes and picture the home you would like to live in. Think of the smells, the colors, the feeling and the textures. Perhaps you pictured a comfortable home with wooden accents or maybe you saw a modern house with a contemporary style. These are important criteria to consider when searching for your new home, but it’s even more important to pay attention to the major differences between owning an older home and a new construction. Although they have their pros and cons – and we love the charm that both types of homes have to offer – when it comes to buying a house, one size does not fit all.
Building codes, compliances and maintenance – Older homes typically have heating systems and other mechanics that can be outdated or in bad shape. Sometimes windows need replacing, the roof needs to be repaired or dead trees need to be removed. These fixes and replacements can be expensive. The bonus of a new construction is everything is just that: new! Appliances and systems have good life expectancies and for the next 5-10 years, should not need any repairs.
Regarding those windows and trees, you can come across new construction that has a few “missing pieces” such as untreated windows and decks or nonexistent landscaping.
Location – Depending if you want the city or the suburbs, your debate on old versus new might end here. Older homes are often built closer to the center of the city whereas new construction can be found in the suburbs.
Availability – With older homes, you don’t have to wait for developers to complete the finishing touches or worry about delayed schedules; you can move in right away! However, this is all pending the older home you have your eye on doesn’t need any immediate renovations. Also, pay attention to your actually move-in date with new homes. New builds can take up to a year before you can make it your home for good.
Character – Craftsmanship and character can often be found in older homes. If you’re looking for that lived-in feeling and personality, we suggest you limit your search to older homes. On the other hand, new builds are usually sleek and modern with the latest appliances and fixtures. If you want that unified style, look for a new home.