Buying a new home is such an exciting time in your life. Of course, while exciting, it can also be stressful dealing with mortgages, home inspections, packing up all your belongings, and all the other things that come along with a move.
While on your house hunt, you will come across all types of houses both new and old that have the potential to become your home. Of course, there are pros and cons to all types of homes.
Cost
The first place most potential buyers will begin when buying a home is figuring out what you afford. This is of course, a great place to begin, as you do not want to spend beyond your means.
A new build home will typically be priced higher initially when compared to a similarly sized older home upfront. Your builder will be able to price out everything you want to include in your new home, giving you an exact amount that you will be spending.
However, the savings from buying an older home often are required to make updates to an older home to either a home’s appearance, maintenance, or efficiency. While you may have an estimate of what these upgrades will cost, hidden surprises often pop up, requiring additional funds. If you do decide to go this route and plan on renovating an older home, make sure you have a contingency fund set aside to ensure your project can be completed properly.
While the listing price on a home is a great starting indicator of a home’s cost, don’t forget to budget for additional wants and needs that will add to your total investment.
Style
Style is completely up to a buyer’s personal preference. Whether you prefer a sleek, modern home or something with unique character, there is a perfect home out there for you.
Depending on the stage you buy a new build at, you will be able to customize the finishes to your liking. With a pre-sale, you can choose everything from the lot and the model to the flooring, countertops, and cabinets. Buying a spec build may limit the items you can choose, but unless you are purchasing a home that is almost complete, you’ll likely be able to put your own stamp on it.
Moving into a new home means getting to enjoy your home right away without dealing with renovation plans. Not only do you not have to deal with the stress of a reno, your wallet will also thank you! When you move into a new build, everything is already done, so there is no need to spend any additional cash to get your home the way you want it.
Older homes are typically described as have more “character,” which certain buyers will appreciate. However, past buyers may have made design choices you don’t love. A fresh coat of paint can go a long way, but other fixes like kitchens or bathrooms can be timely and expensive to change.
Another aspect to consider with your home’s appearance is its exterior.
Architectural controls are also often in place in newly developed areas. These ensure homes maintain a certain style, but offer differentiating features between homes to prevent “cookie-cutter” neighbourhoods. If you were hoping to paint your new place hot pink or lime green, this will likely be a deterrent for you! Overall, most buyers appreciate the cohesive look these controls create.
Older neighbourhoods often have more variety in styles as architectural trends change and homes have been modified by different buyers over the years. You’ll find different architectural features depending on the age of the area you are looking in. Some buyers will find a certain era or style of home speaks to them! You will also need to look at exterior maintenance, including shingles, siding, etc… to ensure they are in good shape or estimate the cost to fix or replace them.
Mature landscaping is also great for adding curb appeal and providing functional outdoor space for your family. The downside with older homes is that yard features may require fixing or redoing – a rotting deck or a cracked concrete slab can be both unsightly and dangerous. But if the yard has been well-maintained, buyers of older homes will appreciate the beautiful outdoor spaces.
Front landscaping is included with Pacesetter Homes, ensuring great curb appeal on your new home. One of our Area Managers would also be happy to discuss pricing out backyard landscaping and a deck to add on to your home as well.
Either way, your home and yard can look just how you’d like, but how much time, effort, and money it will take is up to you!
Maintenance
Newer homes have the benefit of being virtually maintenance-free. Since all systems and finishes are new, there should be no major problems to deal with for many years to come. Of course, like with all homes, standard maintenance tasks including changing furnace filters, etc… should be done to keep your home functioning its best.
If anything should break down in your new build, you have the peace of mind of knowing that your builder will help you address it. Many builders, including Pacesetter, offer a one-year warranty on their builds, guaranteeing the quality of work and materials used.
In your first year in your Pacesetter home, you’ll also receive a 3-month and 1-year check-in to make sure your house is meeting your and our expectations.
Older homes can often be culprits for mysterious problems. Since you likely don’t know the maintenance routine of the previous homeowners, it can be difficult to know how well your home’s integral systems are functioning, even after a home inspection. Unless anything in an older house has been recently bought or installed, it’s unlikely under warranty.
Depending on how old an older home is, the systems a house runs on can be entirely out of date. Materials that used to be considered commonplace like knob-and-tube wiring or lead pipes are now considered dangerous. The cost of replacing an entire electrical or plumbing system will be quite high!
When it comes to maintenance, it’s tough to beat the advantages of a new build. You may get lucky with an older home, but you will usually be on the hook to deal with any issues on your own.
How Green is Your Home?
Through the years, builders have been striving to make the process more energy-efficient as it becomes a larger priority for homeowners. Most older homes will not meet those of today’s standards. Many building materials have seen enormous progress in making homes more eco-friendly to build and to live in.
At Pacesetter Homes, we consider each and every detail that will make your home more comfortable and energy efficient. From a high-efficiency furnace and windows to low-flow plumbing fixtures, we opt for the version that is best for the planet and for you.
Of course, older homes can be retrofitted to be more environmentally friendly, and may have already had some updates. Older homes can benefit from smaller, affordable changes, like lightbulbs and energy-saving power bars, and larger changes with bigger price tags, including new windows or solar panels.
Whatever the age of your home, you can be comfortable in an energy-efficient home – it just may require upgrades to get to that point!
New vs. Old Home: Which is Right for You?
Ultimately, only you know which style of home is right for you and your family. Besides the new vs. old debate, you’ll need to consider cost, style and function, maintenance, and energy-efficiency to determine what suits your needs.
If you’ve determined a new home is the right choice for you, take a look at our available homes in Saskatoon or Regina. Have more questions? Here are some more resources on Pricing a New Build Home, Buying a New Build Home, or Building a New Home. Also, one of our Area Managers would be happy to discuss with you as well.
Happy house hunting!
