Some people think older homes are built better than newer homes. They feel the craftsmanship of today’s homes is no match for the ones built decades ago. When asked why they feel this way, they would often reply “….they don’t build ’em like they used to”. They say that newer homes aren’t built with the same materials used for century-old homes.
Yet, there are others who think older homes are less safe and less economical than newer homes. These people often conclude that older homes neither meet current safety standards nor follow building codes.
Truth is, one isn’t better than the other.
Because a building has stood the test of time doesn’t mean it is ideal to live in it. Likewise, it doesn’t mean that all older homes are built to last, because that’s not entirely true.
Even though there are some older buildings that have managed to retain their structure over many years. Still, it doesn’t mean that all old buildings structurally strong. This is because, then, builders hardly paid attention to building standards—if there was any. Moreover, if you wanted to build a house during those times, you would have to get a building contractor, which often doesn’t come cheap. So if you couldn’t afford a building contractor or a labourer, you would have to build your house with whatever you had—if you’re unfortunate, you could end up with a shoddy design. Therefore it’s unsurprising that some older houses have issues such as rotting roofs, weakened foundations, drainage problems and water damage.
You want to buy a home. But it’s your first time. You don’t know if to get a newly constructed home or an older one. You’ve thought about this several times but still can’t decide. You need help! What should you do?
Before buying a house (whether it’s a new one or an older), you must consider its pros and cons, which is key. Then you need to ask yourself: “Is this what I want?” Does it match the kind of lifestyle you desire? For instance, let’s say you want an older home…are you willing to invest in real estate that needs fixing? Or do you want a home with a modern structure and requires no changes?
These are some things you need to consider before you buy a house. That said, take a look at the pros and cons we have put together to help you get started.
The Pros of a New Construction Home
A new construction home is any home where you’re the first person to live at that residence. The advantages of buying newer houses include:
- Layout: Newer houses are constructed with a modern family in mind. For example, most newer homes have a family room next to a large kitchen.
- Amenities: Many newly constructed homes often include things like pools, gyms, even a dedicated gaming room. If you a fitness enthusiast, this is a great addition because you don’t have to worry about paying for and driving to a fitness facility.
- Fewer repairs: Unlike older homes that often requires plenty of fixes, new construction homes have fewer repairs. Not only is this very relieving but also fewer repairs mean you save more.
- More environmentally friendly: With the concept of green homes becoming popular, newer construction homes are built with materials that are more environmentally-friendly, have low carbon emissions, and improve individual well-being.
- More energy-efficient: Unlike most older homes, many newer homes have several energy-efficient appliances. For example, most newer homes have insulations that help them stay warmer during cold winter months and cooler during the summer months.
- Customisable: You can style newer construction homes the way you want! You can customize them to suit your personal needs and preference. For example, you may be able to choose the floor type or paint colour you want.
- Easy to resell: With the numerous updated options in newer homes nowadays, reselling them is very easy. They’re more appealing than older homes because of their updated features.
The Cons of Buying a New Construction Home
Newer construction homes may have better layouts and more updated features than older construction home, but they have a few downsides as well. Take a look.
- Higher prices: Many new construction homes are expensive. Because they are upgrades from older construction homes, have better layouts and more amenities, they often don’t come cheap. You’ll have to pay a higher price than you would for an older home.
- Far distance from work and schools: Most newer homes are located on new sites which are often located farther away from major roads, schools and work offices. Building contractors prefer to buy and build on these new grounds because they’re cheaper. Unfortunately, since these sites are located far away, you will likely spend more money commuting to work.
- Less charming: Many newer homes are less appealing than older homes. They tend to look very similar and have a limited number of floor plans.
- Home Association Fees: Many newer homes are often built in clusters in newer neighbourhoods. These neighbourhoods tend to have amenities like pools and gyms, including Homeowners Associations (HOAs) that pay fees to maintain them. If you’re a new homeowner in one of these neighbourhoods, you may end up paying too.
The Pros of Buying an Older Construction Home
If the pros of buying a newer home is unappealing, it’s likely that you prefer older construction homes. If this is the case, here are some pros of buying an older construction home.
- A sturdy construction: Older homes are considered sturdier than newer homes, because of their quality of building materials and unique architectural design. These homes have withstood many storms, and have managed to remain structurally intact over many years. It’s why many buyers are thrilled to buy older construction homes than a new building where they’re weary about the quality of materials or workmanship.
- Character and style: Unlike newer homes that often have the same layout, older homes have a unique design. Whether it’s the sash windows of a Georgian property or the fireplace that’s in every room of a Victorian home or the stained panels of 1930s suburban houses, older homes