David
Joined: 19 May 2004
Posts: 703
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| Posted: Mon Jun 07, 2004 5:05 pm Post subject: Deciding whether to buy a new home or an old home |
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New homes versus used homes in similar neighborhoods will tend to appreciate at approximately the same rate, but there are others factors to consider when making a choice.
New homes have more modern amenities including wiring, a/c and heating systems, and plubing. These things are less likely to freak down in a new home. For this reason, the cost of repairs in a new home is often significantly less.
Older homes are usually less expensive for the amount of space you get (and even have larger rooms). They often have more land on the lot. The landscaping is usually more finished, and they are usually more "in town". Old homes are also usually built with stronger materials.
There are definitely benefits to both, so you should try to consider what is more important to your particular situation. I like old homes myself. :D |
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