NEW VS. OLD

Which is the best home for you?

If you are in the market for a home, you have no doubt been faced with the decision as to whether you should be a used home or a new home. There are pros and cons on both sides of the issue so it is important that you consider both.

Pros and Cons of an Older Home

There is the obvious that you may be getting a home that has the driveway done, or a fence built, and possibly some landscaping done. These items can be expensive to install in the first place, however they are, in some cases, more expensive to repair than to install. You should check the state of repair of those items before determining their value. One advantage of a resale home can be its location, if the location suits you. The faults in a used home are usually fairly visible, however, depending on the age of the home, the components may be at or near the end of their useful lives. Since there is no warranty, you should invest your money by hiring the services of a competent home inspector. The neighbourhood is usually built up and the landscaping mature and their may be recreational services already in place. You should look at the condition of these services, the state of repair of the schools in the area, even if you don't have children. You want to make sure that the home is can be resold easily. There are generally less move in costs since some fixtures such as drapery rods may be in place, drapery may have been included in the price, and lighting fixtures may have been upgraded. However, since today's standards for plumbing, electrical, insulation and heating systems are much higher that even 5 years ago, the operating cost of an older home may be much higher.

Advantages of a New Home

The main advantage of a new home is choice. You can choose the colours of the bricks, shingles, siding, flooring, paint, windows, cabinets, countertops, plumbing fixtures, electrical fixtures, carpet, ceilings, trim and doors. You can choose the style of home, type of home, floor plan, positioning on the lot, location in a subdivision.

A big difference in new homes is the open to above or higher ceilings typically found in today's homes. Most older homes have eight foot ceilings whereas today's homes feature the availability of nine and ten foot ceilings. Basement ceiling heights can be increased as well with fairly minimal expense. Try to increase the heights in a resale. home.

You can choose from a standard floor plan, you can modify an existing plan, or even create your own custom floor plan. New homes require less maintenance than before. Most new homes have shingles that last 20 years and vinyl clad or vinyl sash windows that are almost maintenance free. They are never repainted on the exterior. The siding, eaves and fascia are also maintenance free vinyl or aluminum. Probably one of the most important considerations is the warranty. All new homes come with a seven year major structural defects warranty. All of the electrical, heating and plumbing distribution systems are covered by a two year warranty. Another major consideration, is that you are not stuck with other people's choices. Maybe you don't like lavender bath tubs, or chopping block counter tops. Some colour trends such as grey and rose are completely out of style now, but it would cost around $ 20,000 to remove and replace ceramic tiles, kitchen cabinets and counter tops, and to repaint. Unless this is factored into the price, you may end never be able to recoup the renovation costs when it is time to sell.

It's Your Choice