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Buying New Homes Vs Old Homes

1. “Necessary Repairs” Increase Home Value– Generally you can expect to see an increase in the value of your home when you do things like replace the air conditioner, furnace or roof. You will get a higher offer on your house with these things than without. So while the idea of ​​buying a home with an old hot water heater that you’ll have to replace seems like a noise killer, you’ll pay less than if they upgraded it for you (always use this as bargaining power! either ask them to do it, or factor it into what the house is worth). This combined can be a great way to buy a nice house for a great deal.

2. “No Regrets” Design Changes- That parquet floor has been there long enough to push aside any regrets about ripping it out and replacing it. Those 80’s tiles, please tear them up. Trends expire and it is better to rip out a tile that is past it’s prime than a brand new tile that has barely seen use. And you’re free to replace it with anything you want, while builders usually have a selection for you to choose from.

3. “Old House” Charm- It is more expensive to buy “old house” details new. Much like the old tile and parquet, the crown molding and carved wood details you’ll often find in older homes have “paid their dues” and are cheaper to buy in that older home. You will find that decorating with these details is a pleasure, as they are visually interesting and beautiful.

4. Cheaper to Buy Up Front- Older homes can be cheaper to buy up front for the same square footage in the same area. This has a lot to do with the labor costs that go into new construction. You pay people’s wages when you buy those homes, while you only buy the seller’s equity value of an older home.

5. Established Neighborhoods- Older homes are in older neighborhoods and that can mean nice shade providing mature trees, grass covered yards, parks and more. Drive through an older neighborhood and you’ll see the benefits with a mature landscape and diverse people living there.

6. Remodeling Potential- Because the homes are often cheaper, the lots normally larger, and the homes not so close together, there is normally a lot of room to remodel an old home. Go ahead and pair that with #2 and you’re in it to win it, right?

7. Energy Efficiency- Yes! Shockingly, I will tell you that buying an older home can benefit your bank account. Smaller homes are less expensive to heat and cool. As long as you have or upgrade existing insulation features, the smaller rooms and lower ceilings will be noticeably cheaper to keep comfortable. And on the other hand, older homes were not equipped with modern cooling and heating so they were built with features that kept it cooler (no electricity, lower electricity bills indeed!)

8. Problems Already Discovered & Addressed – As long as previous owners weren’t total D-bags, any problems that arose from the home build will have already been addressed. Things like settling have probably already happened (true story- my dad bought new construction and they have huge patches around the doors on one side of their house from where they had cracks set from the new house install).

9. Variety in Choices / Styles / Designs / Layouts – When you buy from a builder, you get options. These options are uniform in selection with all other homes that the builder sells. When you shop in an older neighborhood, you get a variety in styles, options, and finishes to choose from.

10. Location- Older homes are usually located closer to desirable parts of town. My older home is located near the beach, other older homes in our town are located in nice neighborhoods right next to downtown. The newer construction homes are usually built on an old lot full of trees and are quite out of the way (and if you want to be out of the way, charming old farmhouses are usually there!)

11. Faster Move In- It makes sense that a house already built would be faster to move in than one that doesn’t exist yet, right?

For More Information – Mantri Developers

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