23 May 2019

New build or older house? Which one should you choose?

The perfect house is entirely subjective. What is one person’s trash is another person’s treasure.

They come in all shapes, sizes and ages, and there is no right answer when it comes to choosing the one for you.

Some people are drawn to the charm and personality of an older house, while others yearn for the blank canvas and clean lines of a new build. But to make your decision a little easier, we’ve drawn up a list of the pros and cons for each.

In this two-part feature, we start with the advantages and disadvantages of buying an old home.

The older house

Pros:

• Space – Old houses were built on bigger plots of land, which gives these homeowners plenty of space to play around with, including bigger room sizes. Older homes also come with larger gardens attached, so if you have children, this perk could be difficult to ignore.
• Thick walls – older properties were built with brick or stone, whereas many modern properties are made with breezeblocks and plasterboard.
• Character – the modern home is built with speed and convenience in mind, and with plenty of modern features. Ideal for some, but maybe not for others. Older houses come with plenty of stunning details that sets them apart from each other and gives them personality 0 from gorgeous original fireplaces to wooden beams and sloping ceilings.
• Cost on buying – Generally, the purchase price of older houses tend to be cheaper than that of new builds (although, this isn’t always the case). A lot will depend on the area and the condition of the house, but you may find you get more bang for your buck when buying a three-bed older house in comparison to a three-bed new build.

Cons:

• Expensive maintenance – New build properties are built with the latest energy efficiency codes and standards in mind, while many older properties don’t come with the same energy saving benefits. This means that old homes are often difficult to heat up and can come with higher maintenance costs.
• Wear and tear – Another issue that can arise with older builds is wear and tear. Because they are… well… old, they may have problems with dampness, leaks and broken parts that need fixing.
• Renovations – While character and personality is a strength of older properties, your home many need some work to get it looking the way you want it. Often, they will need refurbishment and, at the very least, a fresh lick of paint.
• Costs after buying – Unfortunately, the money you save on the deposit for an older house may need to be reinvested in the house itself. Many older properties comes with older plumbing and wiring systems that may need remodeling in the long run.

 

The new build

Pros:

• A blank canvas – the beauty of a new build is that nobody has been in it before, meaning that you can make it the home you want it to be. Quite often, new build buyers will have the opportunity to an input on carpet colours and kitchen style – as long as you buy early enough in the construction phase.
• Energy efficient – A major benefit of new builds is that they are well insulated, double-glazed and built with the latest energy efficiency codes and standards in mind. It makes them super energy efficient and, of course, cheaper to run!
• 10-year warranty – New build houses come with a 10-year warranty, so if anything was to go wrong, the developer is obliged to have it fixed ASAP for you.
• No chains – Moving into a new property means there is no waiting around for someone else to leave. Hassle and stress-free!

Cons:

• Lack of character – Because new build properties are often built with convenience and efficiency in mind, they can look very much the same as each other. They don’t tend to have unique features like old houses do.
• Thin walls – Many new builds are made with breezeblocks and plasterboard, meaning walls are often thin. It means you may well be able to hear your neighbours more often than you would living in a older house.
• Expensive – New builds may be cheaper to run, but the drawback is that they can be more expensive to buy.
• Delays – If you’re waiting on your new house to be built, you are relying on developers to be on schedule with their development plans. There is always the risk of delays, which could affect your completion date.

Published: 23/05/2019