There are many factors to consider when choosing between a new home and an existing one. Continue reading to learn more about the advantages and disadvantages of both properties.
New construction
Advantages
- It’s cheaper: New homes are considerably more affordable than older properties, especially if they are located in new residential developments and up-and-coming neighborhoods.
- New home warranty: Alabama law states that new homes should come with new home warranties. This helps you cover maintenance and repairs. Reputable builders generally offer a 10-year warranty. Choose a builder who will stand behind their work. Read more about home warranties here.
- Less maintenance: The likelihood of needing to replace expensive things like a water heater or roof will generally not rear its head for about a decade when you buy a new home, too. That means overall maintenance costs will be lower than those of an older home.
- Modern and energy efficient: New homes are generally more energy-efficient than their resale counterparts. Green features such as solar panels, dual-pane windows, and better insulation are more commonplace.
It is also typical for new homes to come with items such as built-in microwaves, wine coolers, refrigerators, dishwashers, and other modern conveniences. Most importantly, new homes adhere to today’s building codes and regulations.
Disadvantages
It is also typical for new homes to come with items such as built-in microwaves, wine coolers, refrigerators, dishwashers, and other modern conveniences. Most importantly, new homes adhere to today’s building codes and regulations.
New homes are likely to be almost identical throughout neighborhoods. Their lots can also be a bit sparse and unimpressive overall compared to older properties.
It’s also common for new homes to settle, causing cracks in walls, foundations, and door frames. Even if you have a new home warranty, it can take a while for the builder to respond to your request.
Older homes
Advantages
- Bigger lots: Older homes typically have larger yards with old-growth trees and vegetation since they were built when land was less expensive. Zoning changes are also rare in older, established neighborhoods, which means that residents are less likely to face a sudden influx of commercial buildings.
- Full of character: Older homes have stood the test of time, proving that older construction was usually built to last. They also have more personality especially in terms of architectural features.
- Great location: Older homes have the advantage of being located close to downtown areas and commercial hotspots. This means entertainment, dining, and retail options are only a stone’s throw away.
Disadvantages
Old-world charm, mature trees, and bigger yards aside, owning an older home comes with a number of caveats.
More and extensive maintenance is often necessary as old homes don’t comply with the latest code regulations. And since it’s an older property, features are more likely to break down.
Updates not only cover appliances and room renovations, but home systems as well. All these work can put a significant dent on your finances. That said, everything is worth it if you find an older home perfect for you.
Do you want to take a look at secondhand homes in Alabama?
Wedowee Lake and Lands Realty, LLC can help. Contact the team today for more information.