If you’re looking to buy a “new” home, the question that often arises is should you buy a brand new home or a pre-owned one? Do you want a brand new house that has never been lived in, customized with all the amenities that you or want? Or should you get an older house that may require more repairs and remodeling but may cost less initially and allow you to invest “sweat equity” to improve the value?
One consideration is how much you can afford? Often new homes cost more but often don’t include minor details like laundry shelving, garage storage features, and although they supposedly include things like landscaping, that may simply mean sod, but no trees or bushes, so they still require you to do things which can add considerably to the overall cost.etc. In a pre-owned home these things may have already been added by previous owners.
Replacements
On the down side, an older home may require large repairs like a new roof, a new heating and air-conditioning (HVAC) system, new airtight thermopane windows, plumbing and electrical updates, and possibly more. According to the National Association of Home Builders, the average life expectancy of a shingle roof is 25 to 30 years, while a Heat Pump might only last 16 years and a Trash Compactor a mere 6 years.
Of course, if you are replacing things, you might want to update and improve them, like switching your shingle roof to metal or updating your laminate countertop to granite, which will not only look better and add value but also last much longer.
Kitchens and Bathrooms
Anyone who has watched HGTV will know that in older homes, you may want to replace older kitchen appliances with stainless steel ones that are more stylish and energy-efficient, and you might want updated cabinets with granite countertops and inside lazy-susans for storage. The bathroom tub may need to be replaced by a modern shower or the vanities may have to be updated. Today’s new homes for sale typically come with the most up to date bathrooms and kitchens already, so buying new may save money in this regard even though they may cost more initially. If you want a new home but can’t afford one, you might want to enter HGTV’s Annual Contest to win a New Home.
Unique Floor Plans and Flooring
New homes, particularly in Master Planned Communities, don’t have the same design, style, colors, and features as the neighbors. You can enjoy having a home that truly feels like it is your very own. The homes also have open concept floor plans with more usable and visible space because they eliminate hallways. Additionally, there are so many choices of flooring now, and that can be an expensive personal preference with different selections in various rooms.
Landscaping
Visitors’ first impression of your property is the way it is landscaped. That can be a high-cost project if you don’t do it yourself and have to hire a professional. One advantage to older homes is that they are often already landscaped although the bushes might be overgrown and require some pruning. You might actually have too many plants and be able to thin them out and transplant some to new locations or even sell or give away some of them. Often older homes already have large trees and established lawns but they might require an application of “weed and feed” lawn fertilizer.
You might also like:
- What to Do If Your House is Sagging?
- Your Simple Guide to Buying a House in 2020
- Tips to Afford a Home and Yard for a Small Family
How to Combat Rising Housing Costs as a Prospective Homeowner
