Old or New: What's Best for You?

Home buyers face countless decisions when purchasing a home. One of the first things to establish is whether you prefer a newer or older home.

Comparing newer and older homes can be like comparing apples and oranges. It really depends on your individual preferences and family priorities. Here are a few advantages each type of home offers:

Pros of Older Homes

1. Old World Charm - Older homes usually boast unique architectural features such as stained glass windows and crown moulding.
2. Location - Older homes are often located in well established communities with mature trees and developed landscaping. They're also usually close to popular downtown amenities.
3. Solid as a Rock - The craftsmanship that went into building homes years ago was usually second to none which means they're built to last.
4. Outdoor Space - Older homes usually have larger lots which is an important consideration if you value your privacy or wish to extend your home in the future.

Pros of Newer Homes

1. Customizable - A brand new home allows you to customize to your own tastes with options such as heated floors, granite countertops or even simple items like fixtures.
2. Low Maintenance - You're not likely to encounter any serious problems as everything's brand new. The home's exterior will also be much easier to maintain.
3. Functional - Newer homes are laid out with functional features such as open concept rooms, attached garages, larger storage areas and ensuite bathrooms.
4. Energy Efficient - Better windows, insulation and appliances mean newer homes are more energy efficient which translates into lower monthly bills for homeowners.

Newer homes are usually more functional but existing homes offer a level of character that new homes can't match. You may have a fixed idea of what you prefer but keep an open mind and make sure you're familiar with the pros and cons of each. This is one of the biggest investments you'll ever make so do your research before signing on the dotted line.