With new homes popping up all over the state, it can be hard to buy an older model. That “new house smell” is very alluring. Yet a new home might not be the best option for you. New home designs sometimes have smaller plots, but older houses carry a small list of problems. New Vs. Used What’s the Best Option for you? Well, let’s pro/con this whole thing!
New Homes
Pros:
Pick your model– In any housing community under construction, the builder will always have 3-6 models that you can choose from. Whether you prefer a split level or ranch, the templates are there for you to customize.
A La Carte– With a new home, you will often get to pick and choose great options from the builder so that your home will have everything you want. Want a larger kitchen? Done. How about 2 bathrooms instead of 1 ½? You got it! The design layout is all up to you!
Pristine Condition– As the first owner, you get to be the one to break your new home in. There are no squeaky boards to fix, old pet odors or dandruff to set off allergies, and the roof isn’t one heavy snow away from caving in. You have the assurance that everything in your house is healthy, strong, and clean
Living Green– Over the last 15 years, energy standards for new construction have become more and more stringent. Combined with new advances in technology and building techniques, your new home is guaranteed to be energy efficient and you’ll see the savings in your monthly utility bill.
Cons:
Higher Price– Much like a new car, adding options to the base model also adds to the price tag. If you’re not careful, you can end up going way over your limit. That larger kitchen may mean the difference between being happy and being broke.
Build Time– Once you, the builder, the agent, and the lender all agree on the details, construction (and your waiting) begins. A new home takes time to build; 2- 6 months. From foundation to inspection, weeks will pass before you get the keys to the front door. Be certain that you have a place to live until then.
Lack of Maturity– One of the last things you’ll need to buy for your new home is a lawnmower. It will take time for you to be able to enjoy thick grass and spreading shady branches in a freshly built home. Everything is growing from seed or cutting and will take a few years to grow big and healthy.
Used Homes
Pros:
Trendy Values– Used homes often have a better value since they are already located in a popular area. Local amenities such as movie theaters and supermarkets are close to hand and are a large draw. School systems in the area have also had time to settle down and show their worth.
Appreciation– Used homes in desirable areas often hold their value longer. They have been through a “gentrification” cycle or two and have stood the test of time. To the real estate market, they are a good investment and desirable asset long after other, newer homes have been torn down.
Look at that Lawn– Older homes have had time to grow a healthy, deep-rooted lawn on what is, usually, a larger plot of land. The surrounding trees now shade large sections of your yard and are ready to be used for recreation.
Cons:
“This Old House”– Nothing says “Used” like a laundry list of “honey-do” repairs. Older houses have had time to settle and breakdown in small ways. From creaky floors to cracked concrete, an older home will need more maintenance and upkeep than one straight from the builders.
Urban Noise– Since used homes are usually situated in the middle of a popular area, there are going to be lots of neighbors and traffic around. While this is often not unbearable, it is not ideal for a homeowner wanting peace and quiet.
Leaky Sieve– Since older homes have had time to develop issues, they are more likely to have holes in the walls that let out the heat or AC that you want to keep in. Plugging or preventing these breaks may not be too costly individually, but will bite deeply into the checkbook over time.
New Vs. Used What’s the Best Option?
Now that you know some of the pros and cons of New vs. Used, it’s time to talk to your agent about what would be best for you. Call or email us today for a quick consultation!