You’re looking to move house, meaning you’re scouring the internet for different property listings in your area. There are many to choose from, some of which are older houses that were built many years ago, and others that are brand new. That’s something you can pretty much always count on when looking for a new house; there’ll be some new build properties in your area that are either being built, have just been built, or will be built in the coming months.
This raises the question, should you look at these new builds or settle for the older homes instead? It’s a bit of a hard one as there are so many different pros and cons in each corner. For those of you that are currently in the middle of this debate, here are some key arguments from both camps:
New builds are…well…new!
A key reason many people will prefer buying brand new homes is that they are completely new and have never been touched before. You know when you buy a car and it has that new car smell? New build homes have the same sort of smell! There’s something very nice about entering your house and knowing that nobody else has lived in it before you. Effectively, you have a completely clean slate to do whatever you want with the home. No time has to be spent removing any lingering memories of the old owners, and you also don’t inherit any problems the house might have had before. A new build is brand new, so in theory, you should have a house with zero issues to worry about fixing.
Older homes are more affordable
Older homes might not be as fresh as new ones, but they come with a benefit that could be significant; they’re usually more affordable. Well, they are pretty much always more affordable if you compare a new build with an older home of the same size and in the same location. For instance, if a whole new estate of new builds is built next to older homes, the new ones would sell for a lot more because they are brand new. From your perspective, this could be beneficial as an older house might help you save a lot of money – even when you factor in any repairs and improvements you make as soon as you move in.
Talk to a Professional
When looking to buy a home, whether new or old, it’s crucial to seek professional help. As the experts at Misty Morrison Real Estate & Company emphasize, a home is your largest asset, so it should be the best one for you. Professionals can show you homes that meet your requirements and fit your budget. They help you make informed decisions by professionally showcasing the pros and cons of each property. This guidance ensures you are aware of potential issues and benefits, helping you make the best choice. Trusting professionals can make the home-buying process smoother and more successful.
New builds are more energy efficient
While new builds are more expensive, they come with the caveat of possibly helping you save more money on energy bills. They are built with brand new insulation throughout, new energy-efficient windows, and the latest designs to ensure they conserve as much energy as possible. Older homes aren’t built like this as energy efficiency wasn’t a big thing a few decades ago. New builds will also usually have modern boilers and some come with smart thermostats already built into the home. In essence, you have everything you need to conserve energy and lower your monthly bills.
Garden Wheelbarrow
Older homes offer more of a project
Some people want to buy a home that can become a personal project. You want to get something and turn it into your dream property. Older homes are better for this because they are initially cheaper. Therefore, you can make improvements to the property without it being overly expensive. Plus, referring back to the previous point, it’s relatively inexpensive to turn an older home into one that’s more modern and energy-efficient. As seen here, you can get windows and patio doors that save energy, but you can also buy new insulation or install a new roof. There are so many other home improvements you can make to turn this property into the house of your dreams.
Can you do this with a new build? Yes, but that almost defeats the purpose of buying a new build. Why spend so much money on a brand new home when you’re going to alter it anyway? Surely it makes more sense to save money and opt for the older property?
New builds should last for longer
In theory, a newly built home should last for a much longer time than an older one. Think about it, you could purchase an older home that was built 10, 20, or 30 years ago – maybe even further back than this. It already has decades under its belt, meaning it shouldn’t be too long before it starts to suffer from structural problems or things that need to be fixed/replaced. With a new build, you should have a home that can last for a longer time because it is brand new. Fast forward another 10 years and your home is only 10 years old while the older ones are coming up to 40 or 50 years.
Also, if there are issues with your new home, it is usually covered under warranty for a fairly decent amount of time. Structural issues are covered for around 10 years, maybe more or less depending on who built your home. With an old one, there’s no warranty as the house was built a long time ago.
Older homes can be of a higher quality
The argument against the previous point is that new homes are built to a much lower quality than old ones. This is a theory many people have, stemming from the fact that so many homes are built so quickly nowadays. There are concerns over the quality of materials used in new builds compared to older ones, but it all depends on the company building the house. Some people prefer to opt for an older one because – although it has already been around for a long time – you can be assured of its quality. With a new build, there is an element of gambling involved as you really don’t know how long it can last.
Final thoughts
In short, there are pros and cons to getting your hands on both new build or older properties. It’s your job to weigh up the arguments, speak to your partner (if you have one) and see which route makes the most sense for you, your budget, and your family.
