Many home buyers start out by looking at both older and newer homes, which can create a lot of options, perhaps too many. An easy way to split your options and focus on what you really want is to decide between purchasing an older, existing home or working with a homebuilder on building a new home from scratch.
While there are obviously plenty of advantages to be gained by having your new home custom built to your specifications, there are also quite a few good reasons for purchasing an older home.
Let’s take a closer look at five of those reasons:
Older Homes Have Character
The biggest selling point for buying an older home over building from scratch is that older homes tend to be filled with character. Whether we are talking about character in the form of decades-old woodwork or some exterior feature that you just happen to fall in love with, there is plenty to love about old houses.
Modern houses can often be described as “little boxes” in reference to the fact that many are located in neighborhoods where all of the houses look very similar. With an older house, you are much more likely to find something that is completely unique…which is the definition of character.
Older Homes Often Have Better Locations
The name of the game in real estate is location, and older homes are generally located in places that have been popular for years.
Many years ago when your community was founded and they started building homes, they probably built them in the most convenient locations. Since then, new construction homes have been fit into the community, but those original homes still have a stronghold on the best locations.
Older Homes Don’t Require Waiting
One of the most common frustrations that accompany the new home construction process is having to work around the schedules of contractors and their various sub-contractors. Many people who purchase new construction homes are left without a place to stay when that construction runs past schedule.
Older homes obviously don’t have that problem, especially ones that are move-in ready. Even homes that need some minor renovations can still be occupied while the work is completed.
Older Homes are Generally Priced Better
With new home features like granite countertops and fancy bathrooms being as popular as they are right now, there are usually some pricing advantages to be found in looking at older homes. This can create some fantastic deals for buyers who prefer location and character over modern features.
Of course, saving a little bit by buying an older house can leave some room in the budget to upgrade or add those features that really matter to you anyways.
Older Homes Make for Classic Investments
Over time buyer preferences change and peoples taste for modern construction may not hold up as well as their taste for the classic style of older homes.
This means that older homes might be a better bet to hold up as good investments in the long-run based on their location, character, and proven durability.
If you find a new construction home that can be customized to your exact specification and your whole family falls in love with it, by all means go for it.
But if you aren’t sure and are looking for other options, don’t ignore the possibility that an older home could very well contain every feature you are looking for and then some.
You just have to keep looking, and your local Carrington Real Estate Services agent can help. Contact an agent today!