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Realtor Jared Jacobs – Rochester MN Real Estate Blog

Pros & Cons of Buying a New or Older Home

July 18th, 2011 · No Comments

Many people are unsure of where to start when looking to buy a home. While many things need to be taken into consideration, possibly the first thing you should decide is whether to buy a new home or an older one. You may think it would be less expensive to buy an older home but this isn’t always the case. Older homes were often built using stronger, more expensive materials and on bigger lots. New home developments have smaller lots; the homes are built faster and with different materials. There are pros and cons to buying both new and older homes, here are some more examples.

Location is something to consider when buying a home. If you have children you’ll want to be near a school, and parks or playgrounds may be important to you as well. The newer the development the farther away from the central city or downtown it will be so you may need to commute to reach these places. Old houses will be closer to the downtown area making travel time shorter.

New construction homes often employ more efficient, innovative uses of square footage and property, and with lower construction costs you can get a lot more home for your money. However older homes may have finished basements providing more ready living area, as well as enhanced amenities such as hardwood floors, built ins and other decorative features. The lots around older homes are often much larger than lots in new developments, so if a yard is important to you older properties may be a better fit.

If contracting for the construction of a new home your options for customization can be much greater. The availability to pick your own color schemes, flooring, kitchen cabinets, appliances, custom wiring for TV’s, computers, phones and speakers, etc., as well as have more upgrade options are all potential benefits of new construction. Modern features like extra-large closets, larger bedrooms and extra-large bathrooms and tubs are also common to newer homes and ground-up construction. When it comes to older homes, you rely largely on the previous resident’s tastes, unless you plan to invest thousands into remodeling and rewiring.

These are just a few examples of things to consider when deciding if a new or an older home is right for you. Jared Jacobs of Counselor Realty of Rochester can help you figure out what will suit your needs best. To contact Jared call 507-421-6845 or email him at info@soldbyjaredjacobs.com.

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