There is something that excited homebuyers about buying a new construction house. If you come in at the right time in the process you get to customize many of the options. The result: getting the house that you are looking for. It’s a house that has never belonged to another family and therefore it feels like your home even faster.
While this does seem like a nice idea for homebuyers, there are a lot of benefits to buying an older home that a new build cannot compete with.
When it comes to real estate, you know the key—location, location, location. It’s difficult to find a new construction home in a well-established area. When this happens, it’s usually because an older home has been demolished and a new one built.
By and large, new builds are going into new developments. This can be an exciting idea because they often come with lots of fancy amenities, but they aren’t going to be in that established area that you desire.
When homebuyers go with an older home, you can see the track record of the area, the appreciation, crime rates, the school district, and the property taxes. You know what you are getting and what you can expect.
The new mindset is to take full advantage of the area that we have. That means that builders these days like to take advantage of the space they have and put as many homes in the area as they can. Some homebuyers don’t want to worry about landscaping and maintaining a yard, making a new construction with a small yard more desirable.
But, if you are looking for a nice sized yard for your children or pets to run around in then an older home might be what you are after.
There is just something about driving through an older and established neighborhood that is full of beautiful mature trees providing shade to every yard. This is what you will find when you look at older homes.
Most homebuyers think about the fact that older homes have character inside, but not as many people realize that the character outside also plays a huge role as well.
Houses now are built as fast as possible and usually as inexpensively as possible as well. Homes in the past were built with products that were designed to stand the test of time. This included things like matured trees and plaster and lathe. These products not only have proven to stay strong, but they also provide better sound insulation. There is a reason they say the phrase, “they don’t build ‘em like they used to.”
Since so many homebuyers are looking for houses that are updated and move-in ready, if you don’t mind buying an older home that needs a little maintenance you can find a great deal. So, not only can you get a better-quality house, you can also spend less than you would on a new house.
Remember that “older” doesn’t mean “bad.” In fact, it can actually be an advantage. Make sure that you have a home inspector look at the house so you know what areas might need repair or maintenance. But, don’t let a few projects scare you away from a solid buy.