New vs. Old: Which House Is Best For You?

September 21st, 2022 by Coldwell Banker American Homes

Homes come in different shapes and sizes, as well as ages. Here's how to figure out if you should buy a new or old home.

Brand new construction or an old classic house — which is best for you? The thought of being the first to live in a new home can be enough to sway many towards the first option, but there are also many who believe they simply don't make homes like they used to.

The truth is, there isn't a right or wrong answer. Both new homes and old homes can be perfectly viable options and solid investments. However, our real estate agents believe it's important to consider the pros and cons of both before you make your decision. Here are some important factors to consider:

Maintenance
Old houses can require a lot of maintenance, so you need to prepare both mentally and financially. Things can and will go wrong year after year, so you need to be ready for things to break. If the thought of significant maintenance and upkeep is enough to scare you away, a new home might be the better choice.
Budget
Home prices reached an all-time high this year, and new construction homes are usually going to run you more than a similar-sized old home in the same location. Plus, there is less room to negotiate on new construction. If you're set on purchasing a new home, make sure you're able to afford it without sacrificing too many other items on your checklist.
Availability
While new homes can be tempting, you might have an easier time finding an old home. Home builders are still reeling from pandemic-induced supply chain issues, inflation, and labor shortages, which has resulted in fewer new homes on the market. While there are both new and old Suffolk County homes for sale, the supply of older homes is much higher.
Energy Efficiency
New homes are more likely to have energy-efficient features, including a new roof, insulation, sealant and caulking, windows, and doors. As a result, there is a good chance you'll see lower heating and cooling bills in a new home.
New Appliances
A brand new home most likely will include new appliances with warranties. Not only are they less likely to break, but they're more likely to be covered if they do. This is especially important for big-ticket items like a furnace or hot water tank.
Character
Many old homes have a lot of character, and they can offer unique architectural designs that you just don't see in new construction anymore. In today's market, home builders are looking to maximize profit, which means replicating the same homes again and again. If you're looking at homes that are 50 to 100+ years old, chances they were built with some unique features.
Landscaping
Older homes offer more mature landscaping. This could mean nice, big trees and fully-grown shrubs. Old homes also generally offer more yard space on average compared to new construction. With a new home, you're likely starting from scratch on landscaping.

When it comes to buying a new vs. old home, the decision simply comes down to personal preference. Contact us today for more home buying tips.

Categories: Buying

Tags: Buying a Home, first time home buyers, Coldwell Banker American Homes, Suffolk County

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New vs. Old: Which House Is Best For You?

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