Sometimes a new home isn’t really better than an old one. It will all boil down to what you really need and how it will fit your way of living.
Everybody has their own special needs, and when it comes to houses sometimes an old house can fit better than a new one. A lot of buyers are enticed to spend a lot of their hard-earned money to buy themselves a new model home. That’s not a bad thing. But if you’re a wise spender, you get to weigh you’re options carefully first before you let go of that hard-earned cash because “new” doesn’t always mean “better” in the real estate business.
Things you should consider when choosing between an old house and a new one should include:
- Neighborhood – It’s safe to say that a majority of buyers are lured more by an already developed neighborhood. These developed communities have already been established and usually sports developed trees and mature landscaping that adds charm to the neighborhood
- Land – New homes may have less land compared to older homes. In most metro centers that’s just how it is. The use of land is changed to fit and meet the market’s trend.
- Maintenance and Repair – Expect to have more projects done in an existing home. But even if you’re Mr. Handyman you still need to hire a professional home inspector to have the full report on the house. An existing home may offer you more home improvement projects than a new one, that’s for sure.
- Prices and Taxes – the price of a new home usually costs more than an old one. But an old home usually comes with a complete package like built-ins, landscaping, backyard, etc. On the other hand, if you’re the adventurous type and would like to have everything done on your personal taste then a new home may be of a better fit for you. Regarding taxes, this will depend on the state you’re in. Usually, existing homes have the luxury of having lower property taxes compared to newer ones.
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