Should You Buy A New Build Or An Old House?

If you’re someone who wants to invest a bit of their money into property, you’ve probably been asking this question for a while now. You want to know what would be more worth your time, money, and energy: a new build, or an old house? But in truth, there’s no simple and straightforward answer to such a question. It depends on a couple of factors, so let’s go into a bit of detail surrounding them below. 

What kind of build would you be most happy with? Always take that into consideration. 

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Consider the Pros 

There’s quite a few to both; let’s start with the pros of a new build:

• Depending on where you’re buying, you’ll be given a lengthy warranty
• New builds are more environmentally friendly, thanks to their energy efficiency ratings
• Plus, you’ll be the very first person to own the house, and you’ll be calling all the shots!

And now, moving on to the pros of an old house:

• You’ll have much more negotiating room when it comes to the price
• An old house tends to have more space, and more rooms, to make use of
• Old houses are tried and tested, in terms of architecture - they have unique and eye catching looks! 

Consider the Cons

Of course, there’s no pros without cons; let’s start with old houses this time:

• Potential security issues, thanks to the aged architecture
• Old houses are pricey to try and run, as well as renovate when the time comes for extensions or redecorating to be done! 

But new builds have just as many outstanding and glaring cons:

• If you’re building from the ground up, there could be many delays down the line, and there’s a good chance you won’t move in when you planned to
• A new build can look a lot like the new build down the block, or the one next to it, and there tends to be a minimalist layout both inside and out - a lot of people don’t like this! 

Consider What’s on Offer

A final point to finish up, but an important one. House and land around you might be filled to the brim with new developments, but at the same time, you may be working with only older houses and homes that could do with a tender and loving touch. 

You really have to consider what’s on offer to you, and what’s going to be the most value within your area; it’s all about context, and if you’re not planning to move elsewhere, or move into an investment portfolio that spreads far and wide, base your buying decisions on what’s around you. 

Now’s a Good Buying Time

A new build, or an old house? What would be the best decision for you and your money? It’s a big choice in the current day and age, and the housing market is more diverse than ever. Make sure you do your research, consider the costs involved in either choice available to you, and then decide!