Whether To Buy New Or Used When Buying A Home

By Doherty • July 11th, 2011
The Real Estate Associates (TREA) House, locat...

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One of the most pressing questions facing potential home buyers is if they should focus on properties currently under construction or if a previously-owned house might be a smarter choice. Such a choice is complicated by the reality that there are positives and negatives to both sides of the question, and individual lifestyle choices are the fundamental basis for a the kind of home that works best for you. In this article are a number of considerations that you may want to keep in mind as you weigh the pros and cons of new homes versus previously-owned homes.

More often than not, location is everything and has a overwhelming impact on what kind of home you select. Many older neighborhoods obviously have older homes “near the heart of the action” since they were constructed close to the downtown core as is it built. The older neighborhoods were typically the most scenic areas and that naturally have more charming home elements.

A newer home is generally on the just outside of metropolitan areas or in the country where land is cheaper and there is just more of it. Because of this commuting costs should be weighed into the cost of new home ownership. If “going to town” is not something you do al the time, a country lifestyle has real benefits, such as newer schools, master-planned neighborhoods, newer roads and large retail areas.

An older property’s layout might not be the most efficient use of space, so remodeling is often needed at some time unless the last owner has already made improvements. But, older layout features like wrap-around porches, loft rooms, and converted garages are rare in new homes even though they are still quite popular by many homeowners. Naturally, a resale property frequently requires on-going work from day one because of natural deterioration. This is where the services of an agent will be of use since they often take real estate training courses in how to approach the issues of older homes.

New property designs often include modern features like home theaters, gourmet kitchens, spa bathrooms, and workout rooms. Obviously, floor plans that appear good on paper may be difficult to deal with in real life. A new homeowner can find a reprieve from any pressing repair bills, however, mainly because most new homes carry a warranty for as many as ten years from the time of purchase.

Older properties have a better chance of having fully grown trees, established plants, security fences and paved walkways. More established neighborhoods have bigger plots with more room between houses. Work shops, garden sheds, greenhouses and covered patios are often included in the sale price of an older home but are considered additions to a new house. The Oakville Ontario real estate market is a good instance of this since even though it is a suburb it has older neighborhoods that display these elements.

New house landscapes have often been impaired by the goings on of construction crews and the dirt they generate, so a considerable amount of time and money will have to be invested in landscaping up front. Places like Hamilton real estate are experiencing this in a lot of new communities as the region proceeds to grow. The great part is that when you build your own yard, you can choose to have an eco-friendly design that can lessen the amount of water needed and the amount of required regular maintenance.

In the end, many factors effecting home ownership need to be be carefully contemplated prior to determining if an old or new home will work best for you. Review as many factors as you can for both options, and research all possible sticking points and advantages thoroughly prior to making a decision.

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