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Should You Buy a New or Older Home?

By Guest Author | October 5, 2019

Purchasing a home is a major decision. Therefore, you’ll want to conduct careful research to ensure you find the perfect property for your needs. Before you can begin looking at local listings, it’s important to have an idea of what you desire in a home. One of the first decisions you’ll have to make is whether to buy a new or older home.

older home

To help you make smart choices during the buying process, let’s take a closer look at the key differences between of each type of property.

The Advantages of New Homes

Whether you’re buying a home at auction or through a more traditional sale, newer properties offer many advantages over older ones.

Little to No Wear and Tear

Whether they’re a recently completed build or just a few years old, new homes offer you a unique opportunity to be one of the first owners. This guarantees that the property is in good condition, with little to no damage. With a new home, you won’t have to worry about changing out weathered floors or repainting chipped walls. Instead, you can move right in and begin enjoying the new chapter in your life.

Modern Standards

When you purchase a new home, you can rest assured that all of the fixtures, systems, and appliances will be up to date. The windows will be insulated, the furnace will be Energy Star-rated, and the plumbing system will be in excellent condition. This can save you money upfront, as you won’t have to think about making upgrades or replacement for years down the road. Plus, you’ll likely experience greater savings on your utility bill, as modern systems and equipment tend to be more efficient.

The Advantages of Older Homes

While newer homes provide more modern amenities and fewer necessary upgrades, older properties offer up several benefits of their own.

More Character and Charm

From custom built-ins to elaborate woodwork, you can often find a variety of unique characteristics in older homes. Due to the rise of tract housing, these charming finishes are often harder to find in new properties. If you’re looking for a truly unique residence, an older home is the best option.

Unique History

Unlike a new build, older properties each have their own distinct history. And as a homeowner, you’ll become a part of the story. This contributes to the overall appeal of the property and is often a significant point of interest for potential buyers. History buffs, for example, might be delighted to find an 18th century home that once belonged to a sea captain. Other buyers simply find a bit of comfort in knowing that a house has been loved by families for years.

The Bottom Line – Which Is Right for You?

Whether you buy a new or older home will depend a lot on what you’re looking for in your living experience. Buyers who are open to taking on renovations and upgrades will be best suited for older properties. Meanwhile, those looking to move in and settle down immediately will appreciate a newer build. One thing is for sure – whether your home search begins on the MLS or through an auction firm, there will be a lot of inventory to choose from. That’s why it’s essential to know exactly what you’re looking for beforehand.

Author Bio

Elite Auctions specializes in selling luxury properties at auction. Our expert team handles every detail, from creating a robust marketing strategy to developing a custom website for your listing.

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