Old House? New House? Weighing Your Options
Old House? New House? Weighing Your Options
By Mark Oakes
Prudential First Southern Real Estate
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 decor 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have outdated knob-and-tube wiring, and even a recently built home may have an inadequate fuse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.
By Mark Oakes
Prudential First Southern Real Estate
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 decor 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.