nav-left cat-right

Buying New Versus Old: How To Choose Your Home

buying new versus oldBuying a home can be a rewarding experience for many individuals and their families. While a new home can be exciting, it’s important to research any purchase thoroughly before making a final decision.

Buying New Versus Old – Which One is Right For You?

With the current global economic recession, it’s possible to find many used homes for a reasonable price. While fewer new homes are being built, it’s often possible to get great deals on empty lots and construction contracts for a new home. This article explores the benefits and disadvantages when buying new and pre-owned homes.

Used homes can be a great choice for homeowners looking to get the most value for their money. In many cases, used homes can be 20 percent cheaper than building a new home. However, there can be several potential downsides when purchasing a pre-owned home or building.

Older Homes

Homes built before 1980 may have a variety of potential safety hazards. For example, lead paint was used in many homes that were manufactured before 1976. While lead paint is usually not a problem when it is on the exterior of a home, it can be a problem if small pieces of that paint chip off. If a child touches or eats a piece of dried paint, he or she can experience severe health problems. In addition, chronic lead exposure has been linked with severe learning disorders and organ failure.

It’s also important to remember that older homes may have asbestos. While asbestos isn’t as much of a problem as lead paint, it can be problematic if a homeowner is renovating. Asbestos is usually stable on the wall or ceiling of a home. If disturbed, however, fine particles of asbestos can become aerosolized. Exposure to these particles of asbestos can increase the risk of contracting mesothelioma, a serious form of lung cancer.

Early homes may also have lead soldering on plumbing fixtures. While it’s illegal to use lead piping, many early homes do use lead soldering to connect different pipes in a home. Exposure to these pipes can increase the risk of some health problems, just like lead paint.

In addition, earlier homes may have electrical wiring issues that can pose a significant fire or shock hazard. Since early homes did not contain a lot of electronic equipment, there was usually no need to install high amperage wiring. If the wiring in an old home has too high a load, there can be an increased risk of fires and other problems. In addition, old wiring in a home may have degraded insulation. This electrical insulation is necessary to prevent sparks and short circuits.

Older homes may also have problems with termites and other pests. When buying an older home, it’s a good idea to make sure there aren’t any structural issues that can cause significant problems in the future.

While all the above problems can be serious, a home inspection can be an easy and efficient solution to all of them. With a professional home inspection, it’s possible to quickly and easily discover any problems in a pre-owned home.

Many older homes have historic or architectural value. Homes that have historic value will hold their value much better than new homes that are generic and lack personality.

Buying Brand New

New homes can be a great choice for homeowners that want to build in a new location. While a new home can be a good investment, it will usually be significantly more expensive than a used home. In addition, a new home will require an individual to manage zoning, install utilities and manage many other costs.

While expensive, a new home can be more enjoyable than an older home. In many cases, new homes will require little maintenance and repair. In addition, new homes are manufactured with the latest electrical and plumbing equipment. Since new homes follow the newest environmental and safety regulations, there’s little risk of lead, asbestos and mercury exposure. In addition, new homes can be customized to meet the needs of an owner or family.

A new home will also be built in a way that can resist termite damage. Since newer homes are usually built from specialized pressure-treated lumber and other high-quality materials, there’s little risk of termite infestations.

Newer homes also have better insulation than older homes. Since insulation technology has improved significantly over the past few decades, it’s important to understand that newer insulation products are more energy efficient. In addition, many new homes have double-paned energy-efficient windows that can reduce heating and cooling bills.

While newer homes and pre-owned homes have many benefits and disadvantages, it’s important to look at a home-buying experience from a neutral point of view. In most cases, there’s almost no difference between a home manufactured in 2000 and a home manufactured in 2012. However, it’s essential to research a home, new or pre-owned, before making a purchase decision.

What recommendations do you have for buying new versus old? Please leave your comments in the box below.