Buying a New House vs. an Old House

Owning a home is a milestone, but before you get the keys to your new residence, you have to make a couple of choices. Where do you want to live in Ontario? Aiming for a suburb outside of Ottawa or maybe somewhere closer to the heart of the city? Also, do you want a new home or one with some age to it and a little character? There is no right answer, just what you want.

There are advantages and disadvantages to buying both old and new houses that you should consider before making your selection. Let’s have a look.


Repairs and Maintenance

If there is one thing that turns new homeowners from purchasing older houses is that cost of outdated construction that needs to be repaired. Old houses are bound to have a fair share of cracking, missing shingles, water damaged, clogged pipes, and other issues.

Newer houses can sometimes have the same issue if they were constructed rapidly, but more often than not, you can expect a new house to function much better than an older house before maintenance and repair.


Price

Considering the inevitable cost of repairs on an old house, moving into a new construction is oftentimes a more budget-friendly choice. You know that everything is unused and untouched, so you won’t have to worry about needing maintenance right away.

Older houses are more of a long term investment to fix up over the years. You get more space for the price, but you also have to sink a lot more money into the refurbishing.


Character

You have an aesthetic that you like that is going to be different from someone else. Instead of looking for a clean cut unit, you may want customized woodwork or other quirky things that are found in older houses. Maybe you prefer appliances that have never been used by anyone but you. Perhaps you are looking for a modern community instead of an aged one, or land that hasn’t been cultivated yet.

In short, new houses are a blank canvas that you can do whatever you want with while enjoying the latest technology. Old houses have creaks and groans but also history and charm.

Think about what you like and aim for that.


Convenience and Efficiency

Old houses will have obsolete pieces—it’s undeniable. Newer constructions will not. When you are comparing the cost of an old house with a new one, be sure to factor in the cost of upgrades. You will probably have to spend a little more to bring the older property up to the standards of your local government.

New houses trump old houses there. They will have modern conveniences and be far more eco-friendly, but you may lose some uniqueness as a result.


Will You Choose Old or New?

The most important factors in choosing an old or new house include your budget, required repairs, and the features of the building. Whether you are looking for a more contemporary style with modern features or what an old world charm, there is a house out there that is perfect for you and your family. Now that you know what to look for, you will definitely make the right decision.