Old or New House? Which Should You Buy?

When it comes to choosing a house, you want to find a place that’s right for you. It’s likely to be somewhere that you’ll live for many years, and it’ll certainly be one of the most expensive things you ever buy. One big decision to make is whether you should opt for a new build or buy a resale home, and there are pros and cons to both, so here’s a guide to help you out.

New build homes can be personalised

One advantage of new builds is that they are often sold before they’re completed, which means buyers have a few options to personalise them. Always wanted a certain type of flooring or a walk-in closet? There’s often the opportunity to add these things to your home, so you get the home you want.

Old homes have character

Older, resale homes are often admired for their character, and period features are highly sought after. Some advantages of older homes include:

  • Better locations – older homes tend to be built closer to downtown areas rather than in the middle of nowhere
  • Areas tend to be better established
  • Some older homes have better construction than newer counterparts
  • They often have larger yards
  • Better materials were used – if a home has been standing for over 100 years, you know it’s quality

You should also remember that older homes can be fixed up and improved. Another option is to look for knock down rebuild builders Canberra if you love the home’s location but the house is in poor condition. They will remove the old home and erect a new one in its place.

New homes are generally more expensive

While it depends on the location, as a general guide, new build homes are more expensive than old homes as they have a lot more features and are built with all the mod cons. It’s worth looking at your local area and weighing up what you can get for your budget for new, and what you’d get if you buy an older home. Also, if you go for the latter option, factor in how much you’d spend getting it up to scratch and turning it into a home you love.

There’s no right or wrong answer as to whether you should choose an old or new home, a lot of it depends on your taste, what you like in terms of features and how you plan to use the space.

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