What’s Your Next Home: Old or New Property?

Couple receiving house keys from broker

Old or new property — that’s the question you have to answer as you start your home search. Do you want that clean, pristine, untouched abode? Or are you more of a fan of those that have so much history? You’ll have a lot of thinking to do when it comes to this decision. Give yourself time to reflect to know for sure whether an old or a new house is the right fit for you.

Budget

How much house you can afford is the first thing you need to think about when weighing your decision. In general, new builds are more expensive than old constructions. Old ones, of course, will require some touch-ups — some of which may be remodelling layouts or adding rooms that could increase your home buying costs. That’s why it’s important to have a budget in mind so you can better strategize when allocating your money.

Talk to experts about your financial situation. Use mortgage calculators online. Shop around for home loans Texas lending agencies offer and settle on a budget. With an estimate, you’ll be able to narrow down your options for the new home or know how much much is left for renovations on the old property.

Maintenance

Your decision shouldn’t only involve the home buying itself, but the homeownership as well. As you know, living in an old home may require a lot more maintenance than a newly-built one. You may need to check the plumbing, heating and cooling, and electrical system regularly to make sure that issues will be resolved quickly before they require a huge overhaul that drains a lot of money from your pocket.

If you’re that type of person who loves to tinker stuff around the house and sees home improvement as a hobby more than a labor, then an old property is the right fit for you. On the other hand, if you’re the type who gets annoyed with regular inspections and whatnot, then a new property is the wiser choice. You’ll be worry-free in a new build for the first several years.

Home Design

A row of new homes with fenced yards along a sidewalk

The look and feel of your home, of course, matters in your decision. In an older home, you’re able to take advantage of intricate architectural details, the atmosphere of nostalgia, and an interesting background story. All of these are reflected in dumbwaiters, laundry chutes, sleeping porches, crown moldings, and more.

On the other hand, in a new property, you get to enjoy open living spaces, energy-efficient rooms, and minimalist-styled spaces. Of course, there’s always the option of upgrading a house built in the 70s or making a recently-built property vintage — meshing the old charm and the modern chic. There has to be one that would be more of your priority, and that should be your guiding factor in choosing the very foundation of your design.

Old or new house, that’s the question. Take note of these as you sit down with your family and deliberate on your decision. All the best in your house hunt!