Should we buy a new home or used home?
Answers:
One of the first decisions to make when considering a home purchase is whether to buy new or purchase an existing home. Though existing homes offer many benefits such as an established neighborhood, existing upgrades like window coverings and landscaping, and a potentially larger lot, new homes offer many benefits including:
Warranties: Many builders offer warranties and in many cases, appliances and other new systems may also include direct manufacturers’ warranties for items such as stoves, dishwashers, etc.
Modern Architecture: Newer homes tend to have certain layouts that most existing homes do not such as great rooms (oversized family rooms), larger closets, media niches and larger state-of-the-art kitchens. And, you may find newer homes are lighter, since builders today are using larger, more innovative windows, skylights, etc.
Energy Efficiency: New homes tend to consume less energy than older homes. They are generally better insulated, have better windows, and more efficient central heating and air conditioning systems.
Enhanced Electrical Systems: With the advent of home computers, microwaves, and other modern conveniences, new homes are being wired to accommodate electrical needs that didn’t exist when many existing homes were built.
Healthy Living: New homes may offer health advantages, since asbestos is no longer used in shingles, floor tiles, ceilings or insulation. Lead is no longer used in paint, and formaldehyde emissions have also been eliminated from plywood and particle board.
Price: Though the price of a new home may be more expensive than an existing one, your new home is likely to need fewer repairs or replacements since everything is…well…new, saving on potential maintenance and repair costs.
Options and Upgrades: One of the greatest benefits of buying a new home is the flexibility in choosing certain options and upgrades, such as flooring, cabinets, paint, exterior colors, etc.
Other answers:
A new home can be easily renovated, where as in an old home you have to work around someone else's problems that they might have made renovating. A new home is a much safer bet. The buyer history on a used home can be invalid.
A new home can be easily renovated, where as in an old home you have to work around someone else's problems that they might have made renovating. A new home is a much safer bet. The buyer history on a used home can be invalid.
Think about quality AND price, find a balance between them. Location is something to think about as well.
It all depends what you want and like and if you have $$ to put into an older home. Older homes do have benefits-- they are already settled, usually older homes are better constructed than the newer homes, and taxes are lower on an older home.
A new home is a "new home"- you have warranties and you don't have to worry about things breaking.
You should also consider a home that is a few years old. You maybe able to compromise with that. Good luck!
The disappointments you refer to are usually cosmetic, provided you utilize the services of a home inspector. They will identify any serious problems that can cause you great expense. A little paint, etc. can make a big difference. New home prices are usually overly optomistic and provide for less bargaining on price.
It's natural want a shiny new house, but older homes have "good bones", and are in established neighborhoods. Their landscaping is established, thereby saving you $$ for improvements. Use a little imagination!
A used home will often have more character than a new home. They are often better built and have solid wood floors, which can be a boon.
If you buy an older home, ask for a one year home warranty from the seller.
I have lived in both, I would prefer an older home, more character, they have settled, it is fun to decorate an older home, the building materials were better, you can buy a older home with a sellers warranty that if anything major goes wrong for the first year it is there expense if it is somehing major, when buying a older home it is wise to hire a home inspector to check it out, it might cost several hundred dollars, but they are usually pretty thorough and will let you know if there is anything wrong structurally with the home.
Newer homes can have problems too just like the older ones. Prime example the new home we lived in they installed the fire place improperly and three months after we moved in we had a fire, same on our second new home, a faulty exhaust fan in one of the bathrooms caught fire, so either way you can have problems the builder covered the cost of the one caused by the fire place, they didn't leave enough air space behind the fire box and the studs on the outside wall, DUH. Second fire was our expense or our insurance companies, it was like a no fault thing because of the exhaust, could have gone after the manufacturer of the exhaust fan, but used the insurance instead, by the time they tie everything up in court and all the litigations who knows how long it would have taken, so think about it and look and some older houses before you make a decision, there are pros and cons to both.