Often, first-time buyers get into a dilemma of buying a new house or investing on an old home. There are several home buyers preferring used homes due to a variety of reasons. Most importantly, it is really becoming harder to meet the exorbitant construction costs. New homes are costlier than old ones.
Pros Of Buying An Older Home:
The best advantage of buying an old home is its construction. Built with finest quality of wood by genuine craftsman, older homes have withstood the test of time, where every minute aspect has been attended with meticulous diligence. These homes are usually filled with beautiful architectural features like arches and hand-carved decorations. Another advantage is the space these homes offer. The size of new homes being constructed these days has greatly decreased due to increasing land costs. Older homes are spacious and built on large tracts of land. Other advantages of buying a new home include presence of long term neighbors, well-established neighborhood that has sustained several years and serene backyards and boulevards filled with large canopies of trees and lush green vegetation. Older homes are usually located nearer to downtown areas filled with restaurants and shopping centers.
Cons Of Buying An Older Home:
Although, older homes come at a cheaper price, you might have to spend more towards maintenance costs. Depending on the requirements, you would have to invest money towards renovation and repair. Things like chimneys, stone foundations, floors, bathrooms, sewage systems and electrical connections need to be refurbished so as to avoid any major accident. Many times, these maintenance costs might end being really expensive.