Why Buying a New Home is Better than Fixing Up an Older Home
Merry Christmas everyone!
We hope that you all have been having a great holiday season so far, and that it continues to be amazing for the rest of the year. Hopefully you all have been staying warm during our little snowstorm as well!
Today I want to talk to you about building a new home versus fixing up an older home. I know that some people enjoy flipping houses and this is not a blog on that particular topic. This is in regards to a person, or family, choosing a future home to settle down in.
While there are benefits to both, we at Copeland Custom Homes believe that building a new home is overall the better deal that you can get for yourself. While this might seem a little biased, we have our reasons for doing so.
- Your home will have a better overall value.
This is solely because everything in your home will be brand new as opposed to something that has been used. This is not to say that used products are bad, but more so to say that newer products tend to last longer and perform better than older versions.
For example, the design/layout of your home will typically be more modern if you are to build it. This is not necessarily super important since a lot of people like the older home models. However, it is easier to get a modern-style home by building it. Also, the products/materials/finishes will be newer and will have a more lasting value than what comes with fixing up a older home. This also includes the fact that you will not have to worry about major repairs for a while.
- Your home will be more energy efficient.
Since all of the products in your home will be newer, it will be easier to save money. For example, all of the openings in your home (windows, doors, etc.) will be better designed to withhold more heat/AC in your home, thus saving you money and leading to a more comfortable household.
Also when you build, you can use energy efficient materials that will give your home a LEED status. LEED stands for Leadership in Energy and Environmental Design. So basically, your home will be more environmentally friendly if you decide to build with this in mind. You do not necessarily have this option when you try to fix up an older house.
- You have a say in what you want.
This is not a big deal for everyone. However, there are many of us who really want our houses to look and feel a certain way. This includes what amenities you want, where you want things located, how you want things to look, etc. You will have more of a say in that if you decide to build.
- You will have a better resale value.
Building a new home should be seen as a better investment. If you build a home in the right area, then your resale value has a better chance of being higher proportionately than it would be if you fixed up an older home. Many people assume the older a house is, then the more problems they will face when living there. Most of the time this is correct, especially since some homes can have mold issues that have never been addressed (leading to health issues). Either way, aesthetically and functionality you will have a better chance to get a higher resale price than you would with an older home.
I understand that building is not for everyone, especially if it is not in your budget or if you just cannot stand the thought of going through the process. While neither is a bad choice, we still believe that there is a lot more to be said about building new rather than fixing up a home. Observe your current situation and see what works best for you.
“We are not just your builder, we are your neighbor!”