Email Post to a Friend: Should You Buy An Old Or New House?

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Homes come in all different ages. Here's how to determine if you should buy an older or newer house.

If you're looking for a new home, it's important to look at a variety of properties before you make a final decision. Whether you're drawn to new homes with the latest amenities or old homes with charm and character, advice from our real estate agents can help you find the right home for you.

If you want bells and whistles, updated style, country charm, and waterfront views, you'll find all of them in Southport homes for sale. However, an important thing to consider is the age of the home. Let's take a look at some pros and cons of buying new homes vs. old homes that may impact your lifestyle and finances.

Curb Appeal

An older house in an established neighborhood can boost your curb appeal with original architectural details, a large yard, and mature landscaping. It's difficult to replicate the authentic charm of Colonial, Craftsman, or Tudor details in new construction. Older homes often have larger properties with mature trees that provide shade and landscaping features such as arbors, pergolas, fountains, and winding pathways through gardens.

If you're considering a newer home or one under construction, you should consider your landscaping costs to plant trees, shrubs, and flower beds, plant new grass, and install outdoor features that will boost your home's curb appeal and resale value.

Home Comfort

Although older homes offer traditional charm and character, they're often lacking in square footage and upgraded amenities like central heat and air, energy-efficient windows, and solar panels. Older homes usually have smaller rooms, smaller closets, and fewer open spaces for large gatherings. Older building materials used in construction may contribute to leaky roofs, cracked or warped floors, door and window drafts, faulty plumbing, and faulty heating and cooling.

If you're drawn to older homes, you must consider the costs of replacing old equipment, upgrading appliances, installing new windows, adding smart features, and maintaining a comfortable living environment. However, there is one perk. Old homes still cost significantly less upfront, up to 30% less that a newly built home.

Home Safety

In the past 30 years, construction and building code safety standards have changed significantly, making older homes more vulnerable to natural disasters, plumbing and roofing problems, and electrical fires. Older homes have fewer safety regulations, so doing a home inspection is essential to check for faulty construction and hazardous materials like lead and asbestos.

Buying a newer home means you don't have to worry about building code violations and unsafe materials. New homes are built with energy-efficient, fire-retardant insulation, double-pane windows, and built-in safety features, but you will likely pay a higher price per square foot for the house.

Repairs and Maintenance

If you're looking for a leisurely lifestyle with fewer hassles, or you have limited financial resources, buying a new house may be the way to go. Older homes come with the inevitable need for repairs, replacements, and upgrades that can have a big impact on your finances. If you buy a house with a new roof, new plumbing, new hot water heater, and new HVAC system, you likely won't have to worry about major repair costs for at least 10 years.

Whether you decide on a new or old house, you still have to budget for ongoing home repairs and maintenance, but they will likely be less in a newer house. The money you save by buying an older house may be quickly spent on repairs and maintenance for roof leaks, a faulty furnace, and electrical and plumbing problems.

If you're considering a move to the Southport area, contact us to explore properties and prices that fit your lifestyle.