Deciding to either buy an old house or a new house is one of the first questions you’ll have to ask yourself as the home buyer. Some people prefer the uniqueness and stability of an old home while others opt for the more modern and functional new home.
Favoring to buy an old house over a new house or vice versa boils down to personal preference; however, home buyers need to take their time in weighing the pros and cons of both houses.
OLD HOUSE VS NEW HOUSE: MAINTENANCE
A newly constructed house will require very little maintenance for obvious reasons. New roof, new floors, new appliances, new water heater – everything is new! You won’t have to worry about replacement nor repairs for the next 10 or 20 years.
Contradictory to this, an old house will require more than a little maintenance – much, much more than a little maintenance. There will always be something that needs to be replaced, or something that needs to be fixed; however, conducting a full home inspection will enable you to gauge the overall condition of the house, which in turn will help you to negotiate a lower price or have the seller take care of it.
OLD HOUSE VS NEW HOUSE: WARRANTY
Aside from keeping up to date with the building codes and regulations, a new house usually comes with what is called a Builder’s Warranty that can last for up to 10 years. In addition to this, the new standard appliances included, such as a built-in dishwasher, refrigerator, cooking oven, washing machine, and dryer, come with their own warranties.
On the other hand, an old house can come with a home insurance, which is mandatory, and a home warranty, which you’ll have to arrange yourself.
OLD HOUSE VS NEW HOUSE: SPACE
Crowded cities, which are normally the ideal location for home buyers, do not have as much vacant lots as compared to a suburban or rural area. This being said, new houses are constructed vertically to create additional square footage. More than this, they tend to be built closely with one another to maximize the availability of the vacant lot. This could be a turn off for most people since it might mean having to compromise their privacy and security.
In different circumstances, old houses were constructed on larger parcels of land since they were a lot cheaper back in the day. This means extra space to build out rather than up, allowing accommodation for parking garages, abundant landscaping, and a spacious backyard.
OLD HOUSE VS NEW HOUSE: DESIGN
New houses can be set up as Tract Homes, which are also known as “cookie-cutter housing” due to its nature of being identical to one another in layout and design, leaving no room for variety. For some home buyers, this uniform architecture is a minor factor to take into account when selecting a home; for others, a deal breaker.
Meanwhile, old houses didn’t have to follow a homogeneous blueprint; but rather, they were heavily influenced by the home owners and thus making them one-of-a-kind in nature. Designing a house then gave more flexibility to builders because there was substantial space available for the different aspects needed in a home. Furthermore, although mostly outdated, old houses have withstood the test of time, and so ensuring the quality of architecture that has been placed into the structure.
OLD HOUSE VS NEW HOUSE: LOCATION
As mentioned earlier, newly constructed houses tend to be built just outside the busy city districts, which means a longer commute to the main locality. What’s more is that you might find insufficient information about the neighborhood, where the new houses are located.
Old houses are located in established neighborhoods, where everyone knows everyone. They’re also commonly stationed near or at the center of the metropolitan area, and it’s because of this that sellers can price their houses for top dollars.
The most important thing is to objectively examine the elements involved so that you, as a home buyer, can make a cognizant decision on whether a new house or an old house will best suit your needs.