When buying a home, you’ll be faced with a lot of choices. Do you want to live in the country with lots of land, in the suburbs, or in a city with a smaller lot? What style of home do you want?
Another big question that home buyers must ask themselves is whether they want to buy an older house or a new construction home. Both have advantages and disadvantages, such as higher maintenance costs for an older home versus a higher upfront cost for a new home. The decision really comes down to personal preference and what is most important to you when choosing the place that you will call home.
At Carl Deputy & Son Builders, we construct custom and semi-custom homes in Kent and Sussex Counties and along the Eastern Shore of Maryland. We also renovate older houses to help you make your existing home into your dream house. Reach out today to learn more about our full range of construction services.
Should You Buy an Old House or a New House?
When it comes to purchasing a house, there are two main options: an older, existing home or a new construction home. Of course, there is quite a large range when talking about old homes – especially in Delaware, the “First State.” In Kent and Sussex Counties, an old house might be one built in the 1990s – or the 1800s.
If you are debating between buying an old house or a new house, it can be hard to know what the right choice is for your family. Old houses often have a lot of charm – and history. A new home means getting exactly what you want, including more modern conveniences like a large kitchen and plenty of bathrooms.
Below, we have outlined some of the benefits and drawbacks of buying an old house versus buying a new house. If you decide that you would like to build a new home, reach out today to learn about our options for building on your lot or on one of our lots.
Pros of Buying an Old House
One of the big attractions to buying an old house for many people is that they are often more unique. Older homes are less likely to be “cookie-cutter” houses. They also were often built with attention to detail and craftsmanship, which means that they may include unique details like stained glass windows or carved wooden fireplace surrounds.
Older houses often have larger yards with mature landscaping. There may even be trees and shrubbery that were planted decades ago – or longer. Established landscaping can be a huge attraction with an older home. These houses also tend to be in more established neighborhoods and are often more centrally located than new construction communities.
When buying an older house, you may get a better sense of its value as an investment. You can look up its price history and see how it has grown in value over time. This can give you a better sense of whether it will be a good financial decision to buy the house.
Finally, older houses often cost less initially than new construction homes – although this is less true now than it was in the past. Typically, older houses cost tens of thousands of dollars less upfront. Today, older homes often cost just as much as or only slightly less than new construction (depending on where you live).
Cons of Buying an Old House
While there are advantages to buying an older house, there are also downsides. While an older home might cost less to purchase, they typically require more in maintenance costs. Depending on the age and condition of your house, you might need to replace the plumbing, electrical, roof, windows, or other critical parts of the house.
Older houses were also built to accommodate a different lifestyle than many of us lead today. This means smaller floor plans and more separate spaces (instead of an open floor plan). Bedrooms, kitchens, and closets are often smaller, and there may only be one bathroom.
Buying an older house may also mean that you end up paying a lot more for utilities. Even a well-constructed older house simply won’t have the energy-efficient features that many new homes have – unless you spend the money to upgrade your home yourself. This can lead to higher gas and electric bills…and your house may still be drafty in the winter and warm in the summer. In fact, an older house might not even have ductwork for features like central air conditioning – which is a huge downside for many people.
Finally, while there is some truth that older homes were often built with a level of craftsmanship rarely seen today, that isn’t always the case. More importantly, older homes weren’t typically built to modern building codes. This may mean that you have to do expensive upgrades to get rid of lead paint and asbestos or to make your electrical system safe.
Pros of Buying a New House
One of the biggest reasons people buy a brand new home is that they want something built just for them. When you build a house, you can often pick exactly what you want – especially if you are building a fully custom home. Even with a semi-custom home, you can select your floor plan and various finishes and features.
There are other perks to building or buying a new construction house. Because everything in the house is new, you won’t have any major maintenance costs for years. While every house needs some regular maintenance, you won’t likely have to put out a significant amount of money for things like a new HVAC system or roof for years and years.
New houses are also built to comply with the latest building codes and safety regulations, which can give you peace of mind. They also typically are built to be more energy efficient than older homes. This means that you will likely have lower utility bills. A newer house will also likely be better built to withstand extreme weather.
Finally, new houses tend to have far more modern conveniences and more living space. Central air conditioning is standard in new houses – as are multiple bathrooms throughout the house. Open living spaces with wiring for internet and cable and plenty of storage space are also standard features in new construction homes.
Cons of Buying a New House
Of course, there are drawbacks to building a new house. In many markets, you will probably pay more upfront to build a new house – although there are definitely steps that you can take to stay within your budget even when building a custom home. You might also have to get two separate loans for buying a lot and then for the construction.
Many new houses are built in more suburban or rural areas. If you want to live more centrally – such as in a downtown area or walkable neighborhood – then you may not be able to build a new house. If you aren’t building on your own lot, your house might be in a development community instead of an established older neighborhood.
New houses also tend to be built on smaller lots than older homes. Because these houses are usually larger than old homes, they usually have much smaller yards. The landscaping will also be brand new, which can be less appealing than the established landscaping common with older houses.
Ultimately, the decision to buy an older house or build a new house comes down to personal preference and lifestyle. If you live for the charm of older homes and want to be able to walk to work, then an old house might be your best option. If you want a larger home with modern amenities that won’t need a lot of work, then a new house is probably right for you.
Build a New House with Carl Deputy & Son Builders
If you decide that a new house is the way to go, your next step will be to choose a builder. For more than 40 years, our construction company has built custom and semi-custom homes in Delaware. We also work with homeowners who love their old house and want to update it to suit their more modern preferences.
At Carl Deputy & Son Builders, we offer unparalleled customer service and the highest quality craftsmanship in all of our construction projects. Whether you decide to build a new house or renovate your current house, we can work with you – and your budget – to make your dreams a reality. To learn more or to schedule a consultation with a member of our team for a free estimate, give us a call at 302-284-3041 or fill out our online contact form.
