Older Homes Vs. New Homes

When purchasing a home, one of the decisions you will need to consider is whether you want to purchase an older home or a newer one. Some buyers are attracted to the older homes charm and history while others would prefer the modern day conveniences of a newer home. Sometimes the area and your price range can make the decision for you. If you are not sure which is best for you below are some factors to consider.

Older Homes – Advantages

• Construction – Older homes were generally built using stone by experienced craftsmen which some may say you’ll get a more solid house.
• Large Land Lots – Land was much cheaper back then, builders could use larger lot sizes, resulting in more space.
• Character- Original features such as ceiling beams and open fireplaces can be very attractive to many people
• Traditions – many older homes have been owned by the same families for many generations, the houses are passed down through the years, allowing for the development of small communities within the areas

Older Homes – Disadvantages

• Maintenance- With the older homes you can usually expect a little more work such as roof and walls may need updating and many older properties may have old heating systems and wiring which can be expensive to update. Ceilings are also lower in older properties
• Smaller Storage Space – Years ago, possessions were limited therefore people did not require large storage areas. In today’s world storage is an essential requirement for many families.
• More Expensive – Many older properties can also be more expensive due to their location which is usually rural and you will pay for traditional features.

New Homes – Advantages

• Lower maintenance- With new homes modern wiring and heating systems have been installed, walls, roofs, windows and doors will also be brand new.
• Modern Appliances – Many newer homes are sold with fitted kitchens and built in appliances, therefore there is no need to purchase these items separately which can be very expensive
• Incentives – Many builders/property owners will offer incentives such as cash back or pay the closing costs.
• Energy Efficient – In the newer homes, walls and roof are insulated and the heating systems are fitted as standard to the home, in some instances you may also have the option to have solar power installed

New Homes – Disadvantages

• Identical rooms – Most houses on a modern estate will be virtually identical in size and floor plan, this can be a put off for those who prefer a unique home
• Small Land Lots – Land is now more expensive to buy, so builders have to work with much smaller plot plans, therefore newer houses will have smaller lots
• Settling – New houses will settle, this can occur at anywhere regardless of the soil or location resulting in cracks in the foundation, walls and door frames

Clearly there are some advantages and disadvantages with both newer and older properties, in the end it may just come down to personal taste and requirements. Before you buy, try to view both old and new houses, until you find what works best for you and your family.