Picking the Right Home: New vs. Old
How many years have you spent dreaming about picking the right home? Jumping into the real estate market can be one of the best decisions you can make. Buying a house means you can forget about paying rent and say goodbye to your intrusive landlord for good. A house is a life-long investment where you and your family will create beautiful memories. Not to mention, the real estate prices are likely to climb up every year, meaning you can get a great return on your investment.
However, there are plenty of factors you need to keep in mind before investing in the right home. One of the most important decisions includes whether you should buy an old house or a brand new home. Fortunately, this blog post will help you decide which option is better suited for you and your family.
Not everybody has the luxury of buying a brand new home. However, this is not necessarily a bad idea. Older houses allow you to save money which can come in handy later on in life, such as for your child’s college fund. Not to mention, after some renovation, the house will look brand new. Here are some advantages of investing in an older house:
- Better Price: Since older houses are not as popular with buyers as newer homes, you may be able to get a better deal. Additionally, older homes are often larger compared to recently build ones. If size and square footage are important to you, you may be able to get a better and more affordable deal with an older house.
- Transportation Saving: Older homes are typically located in urban neighborhoods, so, besides getting a great deal on your new house, you may also be able to save money on transportation. These neighborhoods are typically within walking distance of grocery stores and other businesses.
- The quality of Construction: Let’s admit it, older homes have managed to stand tall for decades and weathered many storms. Some houses were built by a genuine craftsman who paid extensive attention to detail. This means that older homes are often more sustainable and can last for years.
However, on the downside, an older house may require more maintenance depending on the condition of the house. Additionally, an older house may end up costing more if you are in search for vintage options.
Newly Built House
If an older house does not strike your fancy, consider investing in a newly built home instead. Some advantages include:
- Little Maintenance: New construction means the house will stand tall for a long while. This means you don’t have to worry about installing a new roof or water heater.
- Energy Efficient: Newly built homes often feature energy-efficient designs, allowing you to cut down on utility bills.
- Modern Conveniences: Newly built homes feature modern conveniences, such as built-in dishwashers, wine coolers, microwaves and more. The wiring of the house will also be more efficient to support workout and media rooms
However, on the downside, newly built houses tend to be more expensive and are sometimes located in neighborhoods with poor vegetation. This means it can take a while for you to grow a luscious green yard.
Choose from a brand new or older home whilst paying attention to your budget and personal preference. In most cases, an older house is a more practical investment if you have the right real estate agent to inspect the nook and cranny of the house. Additionally, opting for a home renovation can help your house look as good as new.