Are Newly-Built Homes Better than Old Houses?
When first setting out to purchase a home there are many aspects that need to be considered. From your limited finances to the tedious processes of all the paper work, there is a lot to consider before you can get your ideal house. A major decision in this process is whether you should purchase a newly-built or an older established home?
These two options have advantages that could benefit you differently. This is why it's important to weigh the multiple factors that could significantly influence your decision.
You can start at creating a list of questions relevant when you are looking for a property. Are you going to move into the house right away? How much money can you fund for the maintenance costs if there are any? Do you want to live in an established neighborhood?
If you are a first-time homebuyer, the thought of purchasing a newly-built home might sound more appealing to you. There will be new appliances, floors, and electrical systems. Other than those, a newly constructed house can also provide you the following advantages:
You can customize your home.
For homebuyers who look for a house to live in, it is surely rewarding to see if your new home reflects your personality and style. Purchasing a newly built property will give you complete control over the layout, colours, and features that suit your preferences.
New homes typically have low maintenance costs and no faulty systems.
When you buy a new house, you don't have to worry about the faulty water and electrical system. Everything is brand new in your home, so you don't have to spend on house repairs. Additionally, maintenance costs are typically low, so you don't have to provide huge funds for it. In general, you can just unpack your things and live in your new home comfortably.
Newly-built homes have a builder's warranty coverage.
The best thing about buying a new house is the builder's warranty associated with it. Of course, you can never tell at a glance if the home you've purchased will endure structural defects over a certain period. The builders provide a level of protection in length and scope that are not available in resale homes.
You can enjoy modern amenities and other conveniences.
Since home builders nowadays use contemporary materials and designs, you can expect that the houses and the amenities are modern styles. The standards of today's construction are relevant to the comfort and convenience of homeowners.
These advantages may entice you to believe that newly constructed homes are way better than those old houses. But the fact is – it's not always the case.
Acquiring an old house can also be a good choice of investment. If you prefer an old-world construction with a larger yard having mature trees, then you should consider buying a resale home. Most of those old houses provide better benefits than those newly built. Some of them are:
Old houses are generally cheaper than new homes.
Most old houses are generally more economical than the newly-built residences. In Japan, resale homes are particularly cheaper than newly constructed properties. Several factors affect the prices of old homes, such as the location. If you are looking for a cheaper place to acquire, consider the old residences in the countryside on your list. They are more inexpensive than those in urban areas.
They have a better built and more solid foundation.
Since the materials used in the construction of old houses no longer exist today, the foundation of these homes is more likely solid. Builders in the old-work constructions used heavy and dense timbers, thus the structures are often firm and durable.
Most of the old homes have unique charisma and character.
There are some unique features in old houses that modern ones can never have. And that is the quality of craftsmanship that old places give to the residences. Newly-built homes cannot replicate these features as most of the designs require skills and quality materials. In that case, their prices will increase, which can prevent potential home buyers from purchasing newly-built places.
Capital gains possibility.
Probably the largest benefit of purchasing an established property is the possibility of capital growth, the increase in price. With an older property you have the ability to make changes to both the interior and exterior that can increase its value.
Both of these options surely provide advantages to you. But when deciding which one to buy, it’s also important to consider your family’s needs specifically. Because after all, the place that you are going to purchase will also serve as the shelter of you and your family's strong connection.