Buy a New House or an Old House

Should I Buy a New house or an old house ? Buying a house is the result of a long reflection. It is possible to question the differences between buying an old or a new home and to generate a debate on the advantages and disadvantages directly related to the acquisition of one or the other.

Here’s a summary of the essential elements to consider before embarking on your real estate purchase.

Buy a New house or an old house ?

Buying an old house:

Buy a New house or an old house ?

  • Check the close environment and accesses to avoid unpleasant surprises. Examples that can pose a problem: being close to a chemical plant, an airport, a future Train line or a waste disposal site, a crossroads, bar…
  • Request the intervention of a surveyor to check the boundaries of the land and its precise demarcation to see if the parcel has not been encroached upon since the dawn of time by any neighbor.
  • Ask for and check the real estate diagnostics on the old dwellings (these compulsory diagnostics are the responsibility of the seller) to make sure that the house is free of termites or fungus. The presence of asbestos and lead is serious but it requires work to be done to improve your comfort and consumption. The estimate of the work can allow you to modify your negotiation.
  • Look at the condition of the fences. To be specified if the walls are semi-detached or private, and in what state they are.
  • Have an architect or specialist check the quality of the building: insulation, framework, condition of the walls (aging, cracks, etc.), the facade, floors and ceilings, etc. 
  • Check the plumbing, basement, boiler, radiators…
  • Check if the house is connected to the sewerage system.
  • Be aware that it is always necessary to plan for work to bring the house up to standard or to bring it up to date, the amount of which will vary greatly depending on the condition of the house when you buy it. For this reason, plan a detailed provisional budget before applying for a bank loan (if you are in this configuration).
  • Advantages of buying an old house
  • Older houses are more likely to be located in the city centre and remain the prerogative of major arteries, compared to newer houses (generally built on land on the outskirts of the city).
  • The charm and cachet of an old house is different from that of a new house, even if today’s builders pay particular attention to integrating this dimension.


 

Disadvantages of buying an old house

  • There is often a lot of renovation work to do, or to have done. However, as there are fewer and fewer craftsmen specializing in quality renovation work, the rates charged are always very high and the delays are longer.
  • It is unlikely to be guaranteed that the work will be finished on the date originally planned, as the renovation of an old house can hold surprises.
  • In the end, buying an old house is always more expensive, for an “identical” product in a new one. (depending on the age)

 

NEW HOME PURCHASE

NEW HOME PURCHASE

The advantages of buying a new house

  • To have the guarantee of a better quality of insulation than in an old house.
  • As a result, you will make significant financial savings in terms of budget allocated to heating and / or air conditioning expenses.
  • Move into a house that meets current safety standards (particularly concerning health, electrical and energy standards).
  • Not having to plan any structural work. Only a few interior/decoration or exterior works are to be paid for by the buyer if he feels the need.
  • To be protected by the one-year guarantees, guarantee of perfect completion and guarantee of good functioning.

 

 

If you’re interested to buy a new or an old home, I be more than happy to help you.

 

Buy a New House or an Old House

 

Michael Bloomberg

Michael Bloomberg

Michael Bloomberg
REALTOR®
License #SP50889


I’m devoted to helping you make your hopes and dreams of home owning a reality!

 

 

1065 S. Allante Place,
Boise, ID 83709

208.515.7702