Old House? New House? Weighing Your Options

Maybe it has something to do with a childhood home we fondly remember. Many of us long for old homes built with solid construction, quality craftsmanship and beautiful details. We wax poetic and wistfully recall the hand carvings, plaster walls and eyebrow dormers of homes we've known. On the other hand, how do the old homes we admire compare with newly minted models-and what should we consider before deciding which to buy?

Location. Typically, old homes sit on generous plots of land in or near town. The neighborhoods are established and usually more central to schools and shopping. Mature trees and plantings provide shade and beautify the property and neighborhood streets. New homes are generally found in new developments outside of town and homeowners who buy into an early can expect to contend with dust and construction sights and sounds as the remaining phases are being built. Landscaping may be skimpy or nonexistent, but a buyer has the opportunity to design the décor from scratch.

Layout. New homes tend to have a more spacious functional layout with higher ceilings, bigger windows, family kitchens, walk-in closets, and family rooms. Some even have media rooms and come pre-wired for cable and computers. On the other hand, older homes were designed for a more formal lifestyle, which is reflected in the formal dining and living areas and many cozy rooms, including small bedrooms, closets and bathrooms.

Energy efficiency. Those eight-over-eight single pane wood windows add character to an old home, but even with storm windows, they're not nearly as energy efficient as modern dual-glazed or thermal windows. While most old homes lacked insulation in outside walls and attics, homes built today insulate against high heating and cooling costs. Although the bigger windows, higher ceilings and larger rooms, common in new homes, can also cause high utility bills.

Maintenance. With older homes, upkeep could be more expensive because of older appliances, plumbing and electrical systems-not to mention the roof-may need to be replaced. A turn of the century home may have outdated knob-and-tube wiring, and even a recently built home may have an inadequate fuse box-style panel that falls short of the energy demands of 21st century families. But new homes generally come with warranties that will cover the cost for most major problems.

Price. Older homes are usually less expensive per square foot. In addition the tax structure is more predictable because the neighborhood is already established with amenities that newer neighborhoods are still in the process of gaining, such as schools, police and fire services, and infrastructures (roads, sidewalks, etc.). However, with restoration costs a possibility for older homes, your dollars may very well be spent on the back-end rather than upfront.

If the charm and beauty of an old home wins your heart, hire an inspector to evaluate the home for lead paint, insect and water damage, lead and/or galvanized pipes, outdated wiring, foundation problems and energy efficiency, including windows as well as heating/cooling systems and insulation. After you get the all-clear, you have one last consideration: Does the home fit your lifestyle or would the conveniences of a newer model suit you better? Only you and your family have the answer.

Neda Dabestani-Ryba is a licensed Realtor in Maryland. She is a member of the President's Circle of Top Real Estate Professionals. She can be reached at (800) 536-3806 or visit her website for more information: http://neda.dabestani.pcragent.com/ Prudential Carruthers REALTORS is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity

---

Is Second Home Ownership In Your Future?

According to the National Association of REALTORS® (NAR), a record... Read More

New Homes in Ridgefield

Location:Frequent travelers will absolutely delight in this town! As part... Read More

Property Investing - Am I Buying for Profit or Prestige?

All of us have emotional preconceptions and assumptions. They are... Read More

Young Couple Buys Ranch with Government Money

Kirk and Tina Sczepanik had a dream. They wanted a... Read More

Real Estate Investing - Books,TV Infomercials, and Seminars

Real estate investing has become popularized today because of real... Read More

Negotiating A Short Sale ? The High Road to Huge Foreclosure Profits

Buying foreclosures can be extremely profitable for real estate investors.... Read More

Buying Property in Spain

You have made the decision to move to Spain and... Read More

The Secret to Maximum Real Estate Profits: Lighting

Lighting is the most important detail of interior Design Psychology... Read More

Walnut Creek Real Estate

Looking to relocate to a Californian suburb with a low... Read More

Investing In Land

Changing social trends point to a huge rise in demand... Read More

Property for Sale in Bulgaria - Emerging Property Markets 1

The latest investment property headline is this: Popular and well... Read More

How to Own a Dream Home in Spain

Every year hundreds of thousands of foreign visitors travel to... Read More

To Buy or Not to Buy

Purchasing a home is a major emotional and financial decision.... Read More

Attention To Details Helps Homeowners Sell Fast In A Buyers Market

Your boss has just given you the career opportunity of... Read More

Donald Trump on Real Estate

I love what Trump says about the business of real... Read More

For Sale in Ridgefield

Ridgefield Connecticut, located near the New York border, is a... Read More

How to Become a Successful Real Estate Developer

Real estate investment and development has never been a more... Read More

Property Investing ? Port Melbourne Life on the Edge

Property investing prices pick up following a cooler winter last... Read More

Location, Location, Location

Location, location, location - known as the 3 most important... Read More

The Secret To Marketing Your FSBO Home For Sale

You're ready to put your home or land (house, townhouse,... Read More

Real Estate News

Happy New Year, Make it a better world. "Pay it... Read More

How To Give Your Home A Face-Lift: The Sellers Guide To A Quick Sell

One of the great challenges to selling a home can... Read More

Just Give Me Eleven Reasons to Buy in Dubai

Buying overseas property is not always for the fainthearted but... Read More

Best Places to Retire

Places to Retire: Popular Doesn't Always Mean "Best"Las Vegas, Nevada;... Read More

10 Ways To Find Investment Properties

If you really want the best deals in investment properties,... Read More

Selling Houses Fast: Basics of Design & Color Psychology

Fixing up houses to ready them for sale includes a... Read More

Where is the Sophisticated Property Investor Putting his Money?

The Traditional FavouritesOver the last five to ten years, UK... Read More

Buying Outer Banks (OBX) Investment Property

So, you're thinking of purchasing a rental property... Read More

Think You Can?t Afford Your Own Home, Think Again!

Do you have bad credit, no credit, filed a bankruptcy,... Read More

Law & Logic of Homeowner Association Capital Reserves

In October 1999, Oregon was one of the first states... Read More

Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations

Delaware, and the rest of the original British Colonies, has... Read More

Empty Nesters Flock To Inner City

Babyboomers whose children have left home, commonly known as "empty-nesters"... Read More

Things To Consider Before Buying a Condo Hotel or Resort Residence

Resort home ownership, such as condo hotels and fractional shares... Read More