There is currently a lot of discussion happening in the real estate industry about the merits of new construction homes vs the merits of older established homes. There seems to be a real push for new construction homes as they are a bit of a status symbol, but there are some definite assets to older homes that today’s new homes simply cannot equal. This is not to say the older or newer homes are superior to one another, simply that there are some differences that should be considered before purchasing either.
Let’s examine the pros and cons of each in turn. New construction homes are simply that; new. Everything in them is shiny and usually the latest model/style. New homes will typically conform to all current community standards, and be more energy efficient. Another asset is that these homes are usually in newer developments that have excellent landscaping and services, and the area itself usually has quite a high property value. Now, there are some cons as well. New homes are being constructed at such a rapid rate and such a high cost that many contracts are going to the lowest bidder. Some contractors that bid low are able to do so by rushing through the building process and cutting corners by using cheap supplies and labor. This, again is not to condemn contractors, simply that it is an issue that needs to be considered in new construction homes. Also, if you take a look at the average new development you will notice that the actual size of the properties is much smaller than those of established neighborhoods.
As stated above, if you are looking for a larger piece of property then an established area might be a better choice. It is also said that the level of craftsmanship utilized in the building of older homes exceeds that of many new developments. This opinion is hit and miss. Like any area of business there are those who excel and those who do not, no matter what year it is. Also, many older homes have a “character” that it is almost impossible to duplicate in new homes. Many new homes are built utilizing these “character” elements but the effect is never the same. With either form of housing the final choice is, of course yours. Simply make sure that you consider all the aspects of the homes construction, property, benefits and drawbacks so that you can make an educated decision on which type of home to purchase.