[vc_row][vc_column width=”2/3″][vc_column_text]Buying a home is an important decision. For most, it is a ‘once in a lifetime’ decision. When the decision is important, taking the right decision is crucial. That said, with plenty of options available, it seems impossible to make a decision. In this article, we will explain the pros and cons of new home vs existing home.
The decision the buyer needs to make even before starting to look for houses is they want to buy a brand-new home or an old home (a home which had a previous owner).
Older people prefer to buy older homes for their cultural value and personality. Contrary to that, youngsters are inclined towards new homes as they can be personalized to reflect their interests.
The simplest way to resolve this conflict is to make a list of features that you as a buyer believe are a must have in your home. Listed below are the best features of living in a new home and an old home. Whichever section has more of what you need is the house for you.[/vc_column_text][vc_row_inner][vc_column_inner][vc_column_text]
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Pros of living in an old home
- The most obvious difference you will notice while house hunting is the price. Old homes generally cost 20% less than homes with similar facilities.
- The value is better for old homes. That means if you buy an old home and a new home with the same budget, you will get better facilities and better amenities in the old house.
- Old homes are larger than new ones. Homes just aren’t that big anymore. Due to the higher prices of real estate and compact furniture and equipment, new homes are built smaller. If you are looking for homes that MUST BE spacious, old homes are the way to go.
- The architectural detail that you find in old homes is something you simply won’t find in new homes. They cost quite a large amount of money to recreate.
- An old home comes with more charm and character. The house has a personality and the vibe that the home emulates can be felt as soon as you enter the home.
- Obviously, the name but older homes have been here a while. Excluding exceptions where the homes are built in secluded places, old homes are usually in the center of society. This means that there is already an established community that you can communicate and bond with.
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Cons of living in an old home
- The biggest disadvantage of buying an old home is that after the purchase, there is still work to do. The cost of renovations could be a lot and can also take quite some time.
- The internal workings can be faulty. Necessities like plumbing, electricity, ventilation could be flawed. Problems like this show up after a while so fixing them is the beginning won’t be an option.
- They aren’t customizable. Everyone wants their home to reflect their personality which is not possible with old homes. You could make a few minor changes but the overall design of the home is rigid. This is a deal breaker for many who look to buy homes.
- They have a higher cost of maintenance. You will notice that the older the home, the higher the cost of maintaining them. This is a problem caused due to the lack of foresight while building the home but it’s a problem nonetheless.
- They are not very trendy. The most current building and style trends aren’t followed. This could be a positive for those who like old architecture and ancient design.
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Pros of living in a new home
- A new home doesn’t need any more effort from a buyer. No extra renovation, re-painting, etc is needed. This is especially the case if you bought the home pre-construction.
- Problems like bad plumbing or wiring don’t exist. These are problems that arise over time, as the house is brand-new, you will have nothing to worry about.
- You can choose the design and features of the house. If you purchase a house before construction you can hire an architect to design the home to your liking. Even the smallest of details can be customized without too much expenditure.
- A new house that follows the current trends of luxury and comfort. For example, features like walk-in closets, eat-in kitchens, large bathrooms will be available in new homes.
- The cost of maintaining a new home is far less than an old home. This is true for various reasons from better equipment to more efficient technology. Also, they are built with modern necessities in mind.
- New homes are more energy efficient. They have built-in solar panel systems and better forms for wiring and equipment. These improvements can obviously be installed in any house but it’s better to have them when you move in. It’s cheaper and more comfortable that way. Hence, in the long term, you will save a lot of money on utility bills.
- It is not just about saving money though. Conserving natural resources is an important responsibility for every citizen of earth. Employing modern technology like solar panels, rainwater harvesting pits, drip irrigation systems, etc is the way to go. In this manner, new homes are improving the world, one step at the time.
- Modern homes had an emphasis on connectivity. It could be to schools, hospitals, entertainment centers, malls or even your workplace. Getting their quick is the key. That is why reputed real estate companies try to construct their homes close to good transportation or near the location itself.
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Cons of living in a new home
- The price is high. Some say that the price is worth it, and it is but the value you get for old homes is better.
- They are generally built in new neighborhoods. That means, there is no pre-existing community. The community will form over time.
- Modern houses are efficient for sure, but they are also small. This means that the people who prefer spacious homes with large halls and long corridors will not like most of the pre-designed new homes.
- There is no historical or cultural value. There is no personality in the home. The charm that every house needs to have is missing. Hence, it is the buyer’s duty to make the home charming in the future.
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Which is better?
The question, “which type of home is better” is a subjective one. This is not a competition. Pick a home that satisfies our need, your budget, and your future expectations.
What is so special about MUPPA?
MUPPA Projects is a construction company that understands the shortcomings of the new home. They have worked to improve its design in an attempt to make each and every customer happy. Eliminating all the shortcomings and improving on the strengths. MUPPA’S INDRAPRASTHA and ALANKRITA are prime examples of outstanding modern architecture.
Conclusion
You have all the facts in front of you about new home vs existing home. As an educated buyer, you need to evaluate your priorities, your options, and resources. Then you need to make a choice that best suits your goals, interests, and aspirations.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=”1/3″][vc_column_text el_class=”post-contact-form”][fc id=’2′ align=’center’][/fc][/vc_column_text][/vc_column][/vc_row]