Old Home, New Home: Which is the better choice?
Old home, new home: which is the better choice? Maybe you’ve browsed a few used homes and are overwhelmed by the costs of updates. Or maybe the wait for a new build is too long. We’ve got the answers you’re looking for.
Cost:
The upfront cost of a new home may be higher, but it’s essential to consider the long-term expenses of owning an older home. The costs of repairs, renovations, and updates can quickly eat into any initial savings.
Older homes tend to be less energy efficient, so they’ll cost more to heat and cool. And, depending on the state of the older residence, you may be reaching into your pocket to pay for updates sooner than you expect. When we dug into the numbers, we found that buying new makes more financial sense than buying a home that needs serious remodeling. That’s not even taking into account unplanned upgrades or issues. Which leads us to…
Repairs, Replacements and Upgrades:
Buying a newly built home has its benefits, one of which is not having to worry about repairs or upgrades for years to come. You also get to choose the layout, flooring, colors, and more, so your home is tailored to your taste. And you’ll appreciate the fact that your kitchen and bathrooms are brand new and in great condition.
The same can’t be said about older homes. You might need to think about replacing the hot water heater, HVAC system, or roof within the first few years of living there. Or you might need to do some serious renovations early on to fit your family’s needs. If you’re not a lover of home projects – and don’t want to deal with living in a construction site for a chunk of time – then you may want to seriously consider buying a new home.
Does Your Home Match Your Lifestyle?
Some renovations are doable, such as replacing your kitchen countertops or even adding a half bathroom. But others aren’t so easy, like adding on bedrooms or expanding a living room. When looking at homes, you need to make sure you pick one that fits your lifestyle. That means a house that can easily support you and your family (no matter the size).
A new home is the clear winner when it comes to finding a match for your lifestyle. You can design the perfect home to fit your family’s needs, whether it’s an expansive kitchen for entertaining, enough bedrooms for everyone in the house, and a backyard big enough for all the activities you love. No compromising needed.
