If you were to buy a home to live in, would you buy a brand new home or
5 - 10 year old home?
Personally I find old houses structure more attractive than the new homes being built today. Yes, buying an old home takes a lot of work and money to fix up but I think it would be worth it.
I will go for a brand new one. New is more exciting than old.
IMO, a 5-10 year old home is still new. I want an old home, with good bones -- 70+ years.
I would go for a new home as the electrical wiring and plumbing are usually built to a high 'approved' standard thus cutting out the cost of getting the house rewired or re-plumbed - both of which can be tedious to fix or get put right.
Most new homes come with fully fitted kitchen units and wardrobes as well as good double glazed windows which if you live in a cold country, really saves on heating - some homes have solar powered units and that's said to reduce heating costs a lot.
So the cost of a new home would have included all the costs of revamping an older home and thus save time and money as well as weeks on end of the home being partly refurbished and not in use.
I would consider my pocketbook. I prefer an older home. The home and grounds would have had time to settle. Any problems that are going to surface should be easily found by a home inspector (who sometimes get ridiculous in the items they list). You will probably have to consider replacing hot water heaters (about $500) and HVAC systems ($8,000 to $20,000)as those have a life expectancy of 10-20 years. Home inspectors like to list hot water heaters as they have a 5-10 year warranty. Older homes also have mature yards. If I couldn't find an older home at price that made sense, economially, then I would look at a new home.
If money was of no object, then I wouldn't buy either. I would have my house built.
Too many decisions with a brand new home you have built-the countertops, the light fixtures, the bathroom faucet, the molding....I'm too OCD for all that! The house would never get built or would always be in some sort of builder limbo!
Your post is a response to my post. However, you failed to answer the OP's question.
As for me, I wouldn't buy something built to someone's specifications. I would prefer it built to mine.
Actually Cags dear, I was stating that I would prefer an already built home to one I would build myself. I wasn't responding to your post- I was trying to respond to Sekharg. Sorry I didn't add the 5- 10 year old part...
And yeah, I like stuff to my specifications too but I prefer to do them one at a time and not have to come up with it all at once
ahh...I see what you are saying now. I was reading it all again. When he says 'brand new home' in my mind that is a brand new home, as in one you build. We don't really have many finished homes no one has lived in for sale around here so new to me is really new.
I get the confusion
Older homes, 50+ years have more character. It takes a long time for a newly built home to look lived in. If you drive down a street with these older homes, there are never any 2 exactly the same. Sure they're of the same period, but the shapes and archetectural details are quite variable.
I really don't like the cookie-cutter form of most new houses. It's just a way of creating a new sub-division quickly, by using variations on a theme. They have no character though. I guess that costs too much.
Old home - 1930s or older for me. My house was built in 1900, but it is in the UK so slighty different. I love the character of older homes here, and they are far better quality as well. A builder said to me recently, 'never buy a home less than 15 years old'. Building now, in England, is all about getting the job done quickly and cheaply - and the room sizes have shrunk as well.
I'm 25 and bought my own home two years ago. It's over 100 years old, and has a lot of issues. From looking at it, you can't tell it's old (aside from the neat architecture). But there are a lot of internal issues that are expensive to fix.
When I buy my next house, I will go for something new. I don't want to invest excessive time and money into my house.
Personally, I'd like to build a home using hay bales, passive solar, etc.
I'd go for the newer home, but that has a classic style.
However, a certain person doesn't want to go through the stress of building a new home. I respect that decision.
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