Buying A Home: Old Homes versus New Homes

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Buying A Home: Old Homes versus New Homes

Buying A Home: Old Homes versus New Homes

So you’ve decided to buy a home versus renting. What’s next? You are now in the phase of determining if a new construction home or a previously owned home would be the right choice. To help you settle this dilemma, here are some advantages and disadvantages of buying a new home versus a previously owned home.

Previously Owned Homes

Advantages

  • Changes in zoning are unlikely to occur since older homes are built in established neighborhoods.
  • Mature plants, trees and vegetation.
  • Authentic master craftsmanship – Many older homes that are well constructed, have stood for years, decades and even centuries. The longevity of the home somehow verifies the strength of the foundation.
  • Larger lot size – Land was cheaper back then. Builders used to build homes on larger lots.

Disadvantages

  • Older homes may mean more maintenance if not taken care of by former owners. More maintenance equals more cost for repair.
  • Updates may be necessary for some old homes like air conditioning, heating and ventilation systems; kitchen and bathroom remodeling. Again, more cost.

New Homes

Advantages

  • The feeling of fulfillment of owning something brand new. It is always exciting to own something that has never been used.
  • Require little or no maintenance at all.
  • Most new homes are built with a builder’s warranty giving buyers assurance that the home is built well and that the builder won’t abandon the buyer after closing or if minor defects pop up.

Disadvantages

  • Immature plants, trees and vegetation.
  • Tract homes – Cheaper option but floor plans are the same and homes are identical.
  • Newer homes are often situated farther away from downtown. That is, if you don’t mind the longer commute.

For inquiries or more information on the Arizona real estate market visit Luxury Valley Homes site or call (480) 595-6412.

Buying A Home: Old Homes versus New Homes
By | 2014-01-06T11:38:19+00:00 March 21st, 2012|blog, Buyers, Human Interest, Luxury Valley Homes, Phoenix Real Estate, Sellers|Comments Off on Buying A Home: Old Homes versus New Homes