Old Vs. New Houses: What to consider?

by AB&B on July 10, 2022

Whether it is a new home or an old one, there are certain distinct advantages and disadvantages for both. Your best bet for a good old home is one that has been well maintained throughout the years. One indication is how the exterior of the house has been taken cared of. On the other hand, some people prefer to buy new houses to live in instead of one that has been used by others.

Old Houses

Advantages:

1. As a general rule, they cost between 10% and 25% less, allowing you to buy a bigger and more luxurious unit than a new house.
2. Old homes are usually located in more established neighborhoods. Their locations could be more attractive since the finest sites have been chosen in earlier period.
3. The asking price of old houses are usually more negotiable.
4. Old houses are more likely to use quality materials that are more decorative and stronger having withstood the test of time. Better hardwood floors, paneling and finishes, solid narrow doors with elaborate carvings are seldom found in today’s homes due to deforestation and export smuggling.
5. There should be less landscaping to do for the new owners.

Disadvantages:

1. Old houses may not have most of the modern fixtures like built-in tv’s, more electrical outlets, green renovation, etc.
2. They tend to have poorer insulations.
3. Repair works with problems like rusty water lines, deteriorating downspout and gutter misalignment, discoloration of finishes, leaks, termites, etc. could be expensive.
4. Upgrading of the entrance cable and the power source of 200-amp may be necessary to accommodate all the amenities of modern living.
5. Termite infestation

New Houses

Advantages:

1. New homes are less likely to encounter major problems as in old homes.
2. They often have modern features incorporated into the home such as modern kitchen and bathroom fixtures.
3. The quality of construction work is generally better than the old homes using new construction technology.
4. Less maintenance during the first few years of occupation.
5. Environmental concerns have made it possible to remove some of the many toxic materials used in construction, making them safer than the old houses.
6. Most developer homes have one year warranty against minor defects.

Disadvantages:

1. New houses that are furnished with appliances and furniture may not be the most ideal. They are almost always included in the price of the house with a little profit from the sideline. Compare the prices and if they are too expensive, buy them yourself.
2. One disadvantage of buying a pre-selling house or under construction is that they may not meet your expectations.
3. In large-scale development projects where there are massive quantity of units put up for sale, the prices are often fixed and non-negotiable.

It is important to have new houses built by a reputable developer or contractor. Try to get references about their past and recent developments and projects before making an offer to buy.

Deciding which home is right for you is a long process of give and take. Home buyers must have a clear understanding of what they want and need out of a home – and the age of the property is just one variable to consider.

For homeowners who put heavy stock in individuality – and are willing to put forth the necessary time, energy and money to maintain and protect that uniqueness – older homes may be a great fit. With the right care, these old houses can age gracefully and remind their owners of a simpler time. But if modern convenience is your top priority, you may be better suited for a newer home.

If you’re ready to pursue your dream home, a good starting point is finding out other important factors to consider in choosing your new home. Compile a list of your hopes and dreams and don’t compromise on your deal breakers – because rest assured, there is a home out there for every buyer.