It’s happened to so many couples: one person is excited for the shiny countertops and pristine carpet of a new construction home, while the other is dreaming of the vintage hardwood floors and charming detail of an older home. In many markets, real affordability is somewhere in between, a home that is a couple decades old and shows some wear but isn’t quite charming yet. If you’re considering both newer homes and older homes when you are buying a new home and selling your old one, there are a few considerations that should go beyond personal aesthetics as you make this decision that will impact your life for years to come. 

Pros of Older: The Test of Time and Affordability

One of the nice things about older homes is that they have stood the test of time; during a home inspection of an older home, for instance, there should be clear signs of any elements of the home that are in need of repair or have reached the end of their lifespan. The phrase “they don’t make them like they used to” often holds true, with high-quality materials and design features making older homes gems of strength. What’s more is that many families realize that, by opting for an affordable older home, they can allocate more budget toward upgrades and changes that will make the home truly their own - if your new construction home is at the very edge of your affordable budget, customization will usually have to wait. 

Pros of Newer: Lower Maintenance and More Useful Life

On the other hand, older homes often come with quirks that mean you’ll be making repairs and fixing things and calling professionals at times. With newer homes, one of the most appealing features is that everything is recently added, meaning that you have a few years of maintenance-free or low-maintenance living. This doesn’t mean that nothing will ever break, but everything from HVAC systems to the roof’s usable life are likely to be new enough to not need replacing. Built into the higher cost of new construction is that these replacements and changes aren’t coming for a few years, building value into your home. 

For All Homes, Due Diligence is Key

In the end, buying a new home or buying an older home can both be the perfect choice for your family. However, you want to dig in and learn about the home as much as you can. If it is new construction, you want to learn about the builder’s reputation and, if they built homes years ago, see how those homes are faring now. 

If it’s an older home, dig through any disclosures from the sellers and any other details you can garner through inspections or personal walk throughs. If the house has underlying concerns or dangers, it could end up being more expensive than buying new construction, and if a new construction house is built by a builder who cuts corners, it could have old-house-problems in a few short years.

 However, by committing to your own due diligence and leaning on the expertise of your real estate agent, you can make either of these choices the right one for you and your family.