Thursday, 27 July 2017

Buying New Vs. Older Home: Here's How To Decide

Written by Posted On Thursday, 24 October 2013 00:23

You might be asking yourself, should I buy a new home or old home? With so many things to take into consideration when choosing a house like distance from work and family, community feel and home layout, answering the question new or older can help narrow your choices and give your search focus. And with so many new homes being built right here in Southern California, your options have just expanded! I've broken down the advantages for both new and “used” homes so that your decision is fully informed. Some facts about new homes might surprise you…

New Home Advantages:

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• Everything is brand new. You have peace of mind knowing no one has used the shower before or walked on the carpet in your new bedroom. It’s even got that new home smell.

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• A large master suite. Builders are putting more emphasis on making lavish master bedrooms for home buyers than they used to. Older homes have bedrooms which are all about the same size, varying little from master suit to guest room.

• Warranty. Each builder will offer a different warranty, some better than others, but they put your mind at ease when investing in a new home. Warranties are typically offered in one, two or ten year increments and each cover different things like labor and materials, mechanical problems, and structural defects.  Make sure you read your contract thoroughly so you know what your basic maintenance obligations are as a homeowner and what the builders will fix or replace when the time comes.

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• Open layout. New homes are getting bigger and the space isn’t wasted on secluded formal dining rooms and elaborate hallways – it’s going toward the ever popular grand room. Newer homes have a more open layout with one room flowing seamlessly into another.

• More energy efficient. From appliances to materials, newer homes are equipped with energy efficient solutions. Old homes will only be energy efficient if the owner decided to make the changes themselves.

• Low maintenance. Your pipes are clean, the water heater is brand new, your appliances and other home hardware won’t need attention for some time. No need to worry about handy men and home improvements, your builders have got you covered! Just make sure that you trust the builders and know your warranty so you can take full advantage of all benefits and services they offer.

• It's Cheaper! Some newer homes are actually cheaper than ones that are lived in because of smaller yards and builders finding new ways to cut construction costs.

Older Home Advantages:

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• Mature Neighborhood. You can see how well homes in the area have held their value. There is security in a mature neighborhood where homes have proven themselves to hold their value and appreciate over time.

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• Bigger yard and plot. New homes, especially in California, are built so close together you can reach out your bedroom window and touch your neighbor’s side wall. Older homes however have more yard space in both the front and back, and may have even more extra space if you are interested in adding or expanding your home once you move in.

• Charm. New homes are cookie cutter, each neighborhood offering two possible lay outs that come in 1 of 3 different shades of tan. When you buy a lived in home however, you get a mature neighborhood with a personality and a home with its own character.

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• Awesome renovations. New homes may have all new appliances but you’ll only find unique home renovations with extra bells and whistles in older homes. Home sellers these days are conscious of resale value and will put in the time and effort to add amenities that buyers like you want. The built-in cappuccino maker, full service outdoor grill and bar, and unique garage storage unit will be in an older home – not your new cookie cutter model.

• Negotiating Power. You have a lot more power to negotiate price on an older home than you do with a newly constructed one. New homes have a set price which isn’t going to vary much from buyer to buyer. Older homes on the other hand will allow you to negotiate and renegotiate with the seller until everyone is happy.

Hopefully now you've got a clearer picture in mind of the home that’s right for you. The best help in making the right decision of course is finding the right agent. They can help you search for the hottest new homes popping up around town, get the insider info on newly listed homes, and give the attention to detail that your home search so desperately needs.

Call us at 888-870-1142 and we’ll connect you with the top agents in your area to help you in your home search today.

 

Originally posted at http://www.firstteam.com/blog/buying-new-vs-older-home-decide/

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First Team Real Estate® is the largest independent brokerage in Southern California and voted the #1 Real Estate Company by the OC Register's Best of Orange County in 2011, 2012, and 2013

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