You’re in the market for a home and you don’t know whether to buy one preexisting or one that’s brand new. Listed below are a few pros and cons for each to help you make your final decision.
Table of Contents
- 1 Cons of a New Home
- 2 Pricey
- 3 Cookie-Cutter
- 4 The Extras Pad the Ticket Price
- 5 Pros of Buying Brand New
- 6 First One to Occupy
- 7 Updated
- 8 No Repairs Necessary
- 9 Large Interiors
- 10 Pros to Buying an Older Home
- 11 History/Character
- 12 Large Yard
- 13 Cons to an Older Home
- 14 Updates/Maintenance
- 15 Insufficient Space
Cons of a New Home
First, let’s check out the cons of purchasing a newly built house.
Pricey
Unfortunately, new construction comes with a hefty price tag. You’ll pay the price for all the convenient amenities. Buying a home at the top of your budget will make it harder to customize the interior.
Cookie-Cutter
Many new homes in a development have only one or two choices for layout. This means that your home is the same as many of your neighbors. There is nothing unique, no individuality.
The Extras Pad the Ticket Price
Many new construction homes have limited things like outlets, lights, and windows. It’s best to plan to make sure that the cost to install light fixtures and other essential amenities works with your budget. You can always opt to wait until after buying the home and have a contractor of your choosing make the changes.
Pros of Buying Brand New
There are some positives about buying a new house.
First One to Occupy
There’s something special about being the first one to live in a home. You put the first nail in the wall and everything is brand new. The smell of new construction lingers for months.
Updated
A new home meets current code regulations. This makes it easy to add an entertainment system with all the high-tech equipment. New homes also have energy-efficient appliances, and double pane windows and doors helping to reduce energy costs. It has modern conveniences such as a large spacious bathroom featuring a separate shower and garden tub, a master suite with a large walk-in closet, and a kitchen with a center island.
No Repairs Necessary
One of the best selling points of a new home is there’s no need for repairs. It’s move-in ready. Any changes are optional to suit your taste. The roof, plumbing, and heating will last for 10 or more years before they need repairing.
Large Interiors
Most newly constructed homes are spacious. They feature an open grand entrance and roomy hallways. The bedrooms have space for large furniture with room to spare and spacious closets with built-in shelving to keep things neat and organized.
Pros to Buying an Older Home
What about an older home? There are some reasons to go that route, for sure.
History/Character
Older homes built decades ago have survived the elements. There are no future cracks in the walls, ceilings, or the foundation to deal with. The interiors are anything but cookie-cutter. You can go into each home in the neighborhood and not find two the same. Old-world charm comes at you from any angle.
Large Yard
A home that’s older than 50 years often comes with a large piece of land. Homes were much cheaper in the 40s through the 70s, so they could afford space outdoors. Many older homes have unique garages and hand-crafted gardens and walkways. The mature trees and vegetation leave you with little to do outdoors.
Cons to an Older Home
What about the cons? What could go wrong?
Updates/Maintenance
Unless the older home had an owner who remodeled it, it probably has outdated doors and windows and lacks insulation which is something you want to consider before you move. If your headed someone temperate like Southern California it may be on the bottom of your worry-list, but if somewhere like Seattle is your market of choice, old windows and doors can let in water, aid mold growth, and really sour you to a home quickly. This can cause utility bills to become very expensive during peak times in the colder and warmer months. Wiring and plumbing may also need updating to accommodate newer appliances and the latest technology. Unfortunately, this is quite pricey to fix.
Insufficient Space
While older homes have character, most times the rooms are not adequate. They lack size and large closets, limiting storage space. Kitchens are small with limited cabinets and countertops and dining rooms only have space for the table and chairs.
Buying a home is a big expense. Weighing the pros and cons regarding a new and an older home ahead of time will help you make the best decision for you.