Old House Vs New House

Having your very own home is among the greatest investment you could ever have in

a lifetime and among the biggest decision any prospective buyer must make is whether to buy an old house or a new house. Either way, there are advantages and disadvantages but how you weigh the considerations will all boil down to your personal preferences as well as circumstances. So if you feel the time has come to own a New York home, here are the pros and cons to help you out- ideal whether you are in Long Island, Queens, Brooklyn, Staten Island or Manhattan.

When it comes to deciding whether to buy a new or old house, there are important considerations to take including:

Cost

Maintenance

Aesthetics

Energy efficiency

Location and easy access to amenities

It is crucial that you should put much thought into your choice and make sure that the decision would end up not only complementing your lifestyle but will prove valuable to the whole family as well.

Buying a New House

Generally, new houses are built and designed to meet the modern needs of a homeowner together with the entire household. With the great advancements in technology, they are constructed with materials that are far more energy efficient and equipped with products and equipments offering better features that make everyday life a whole lot easier and monthly energy bills lower. This makes up for fewer repair and maintenance costs over a span of several years. If any event occurs, one year warranty coverage is common with new houses. Most new constructions are a part of a huge housing complex that makes some amenities like golf courses, clubs, swimming pool and other such amenities readily available.

Now that weve covered the pros here are the cons to buying a new house. Being a part of a housing complex that is just starting out, you will not be so sure on what to expect with neighborhood you will have. Your home will practically be identical with that of your neighbors and everyone in the community. You would also have to deal with many restrictions when it comes to home improvements and remodeling, especially projects that considerably changes the exterior. With continually increasing land and labor costs, this choice is typically more expensive.

Buying an Old House

Before going through the benefits of buying an old house, I have to clear that by saying old, I am not referring to historic houses. Old houses, about a decade or two old, are generally located in an established neighborhood and asking around can give you an idea on how it is living there and what types of people you will be getting to know. Also known as single family home, an old house is generally not a part of some housing community thus you can expect more character out of it and you will have more freedom to implement changes in the future. Having existed for some years already, these houses are conveniently situated where businesses like banks, entertainment and shopping facilities, markets, and schools are already at close distance. Generally in prime areas, you are availing of excellent resale value for less since they are comparatively cheaper with a price that can still be negotiable.

On the downside, old houses are of course oldhaving outdated architecture, less efficient insulation, and are not designed to accommodate advanced technologies. Though these issues can be solved through remodeling, projects involving such upgrades can be costly.

by: Eugene R. Makeev

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