Our Great Debate continues: Is it better to buy a newer or older home? A few weeks ago we discussed location, character, and price, in our blog highlighting the pros and cons of buying an older home. THIS week, it’s time to talk about the lower maintenance, often times more costly, approach of buying a newer home! As with anything, there are pros and cons to purchasing new, as well -- let’s see, shall we?!? Here are a few benefits of a brand-new home that you may not see in the sales brochure.

 

 

Pro: Customization and adding your personal touch. Homebuyers lucky enough to get in on the building process before it is complete, often get the option to participate in the process of designing/customizing. From floor and counter choices, to outlet placement and paint colors, new homes give you the ability to add a personal touch and make your NEW home your own.

 

Con: Newer homes can cost up to 20% more than their existing, older counterparts! And all of those customization and upgrades can end up costing more than you ever intended.

 

Pro: Most new homes include design elements that today’s lifestyle demands: big kitchens, open floor plans, walk-in closets, an abundance of outlets, and master suites.

 

Con: Inconvenient locations. These days homes are being built away from schools and shopping. Another downer? If your new home is one of the first in its neighborhood, you could potentially be living among construction until nearby homes are complete.

 

Pro: It’s common sense: newer homes = less maintenance. And less maintenance means financial benefit. Plus? New homes often come with warranties for any issues that may arise.

 

Con: Generally, just built homes have less architectural detail and charm.

 

Pro: New homes are built with better materials, making them more energy efficient, resulting in lower utility bills.

 

Con: New neighborhoods and homes are built on smaller lots, leaving owners less privacy and not as much room to “play.”

 

Pro: New homes = new neighborhoods = new community. Moving into an established neighborhood sometimes means joining neighbors in different life stages and with already established relationships.

 

Con: All you fixer-upper types will NOT appreciate the move-in ready, no upkeep necessary nature of new homes, thus, they may not be for you.

 

While it may seem like new construction is the perfect choice, there are lots of lifestyle factors to consider first.  After all, you’re not just buying a house – you’re buying a home and a neighborhood!