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Buying an old house versus a newly built one

  • buying an old house

Buying an old house is the right choice for you?  or do you prefer a newly built home? Do you want a home that you’ve helped design and that offers the latest in energy efficiency and design? Or do you prefer an old house that may need restoration and walls moved around to create the types of open spaces that make sense today?

These are baseline questions that confront many home buyers early in the process. The answers will depend on your lifestyle preferences, financing needs, and the priorities you put on features, your desire and finally on your budget.

Advantages to Buying a New Home

The most obvious benefit to buying a new house as opposed to an old house is that it’s untouched, it’s clean, it’s ready to move-in, everything is in good working order and nothing needs to be repaired. New homes come with some of the design elements that today’s lifestyle demands: open, eat-in kitchens, walk-in closets, and large master baths to name a few.

The home should have all the latest amenities, such as solar panels, energy-saving windows, smart appliances, thermostats etc, that could actually save you a lot of money each year on utility costs because they’re designed to be cost-efficient, not just handy.

And speaking of finances, it’s easier to get a mortgage if you buy a new home.

But which are the disadvantages of buying a new house?

Usually new houses are more expensive than buying old ones.

Location probably isn’t ideal, New homes most likely won’t be that central. They’ll be on the outskirts of town, or in a “trendy” or “upcoming” area.

There might even be multiple new developments surrounding yours, with tractors and hammering construction workers doing what they do all day long.(eyesore and noisy)

We have analyzed the option of purchasing a new house, but what about buying an old house. We usually have the idea that old houses are ruins, (an old house doesn’t necessarily have to be old inside. You might be able to find an old house that has already been remodeled to your liking).

Buying an old house in Italy

Advantages to Buying an Existing Home

Usually an old house is cheaper than a new one. It could cost at least 80/90% less than new houses!

Location is everything in real estate and new homes aren’t built in the best locations.

With an old house, you can buy in the heart of the city/village, or in an area you know, it’s quiet with no traffic and the neighbors are usually friendly and nice. It might also give you the possibility to walk to work, or to restaurants, bars, shops, school district and so on.

Older houses tend to have more character thanks to architectural details and have more charm( just to name a few: stone fireplaces, pizza ovens, terracotta floorings, nice door’s frames etc..) despite new buildings. Finally old houses could actually be built better than a new home! They stand there since many many years and it’s supposed to be for other thousands of years!

Disadvantages to Buying an Existing Home

When you inspect an old houses it might have major problems you don’t initially notice, for this reason is always advisable to trust a professional estate agent and ask him about structural conditions, utilities and whatever come up in mind.

Usually old houses have not lot of spaces all around, it’s difficult to find a town house with a garden or a patio. Car parking might be not available close to the house and usually avails of different floors. (this is a negative point if you like one level houses and hate stairs!)

The decision to buy a newly built or an old house is ultimately best made by each home buyer. Now you know the questions to ask, and the relative costs involved, in order to make the best decision for you.

Happy hunting!

 

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