Sep 7, 2017
New Build Homes Vs Older Properties - Which Is Best?
New construction homes give buyers the opportunity to live in a property that is brand new, modern in nature, and untouched by others. Existing properties have a past, an inherent style depending on when they were built, and a sense of history that many buyers will appreciate.
There are ups and downsides to both buying new or going with old and here, we want to provide you with a brief breakdown of the main factors to consider. Have a look through these key points to ensure you’ve had a good mulling over the pros and cons of each approach.
New builds are usually more expensive than existing properties but are very likely to require less maintenance during the first few years of living in them as all parts of the building are entirely unused. Many new buildings will come with warranties that cover you against major faults as the manufacturers are confident in the properties longevity. This gives you the peace of mind knowing your living costs will remain low and steady throughout your initial years.
Design and layout
New build houses will almost always incorporate a modern design and layout. If modern and open-plan is in line with your preferences, it’ll be much easier to find a new build flat or house that suits what you’re looking for. Almost all new builds will embrace the modern demand for room layouts that flow as well as interiors and windows that make the most of natural light and spacing.
Efficiency of new appliances
New builds come with brand new appliances and insulation that are designed to work with greater efficiency. Not only can this mean a more comfortable standard of living, it also means utility bills are likely to be lower and more consistent than you would expect from older properties.
Relaxed time frames
Most residential construction projects take at least 6 months to complete from the time the homes go on sale. This makes the experience of buying a brand new home a little more scheduled and less pressured than the hustle and bustle that can be involved with buying an existing building. You’ll feel like you’re racing other buyers when you try to secure offers on an existing home, which is an aspect of the process many people find hugely daunting.
If you’re planning to work with a contractor to build your new home from scratch, the possibilities are endless. You can have the floor plan, room, and decor made to your precise specifications. Even if you’re buying a pre-built home from a development company, there’s often scope to customize the property to suit your preferences.
If you’re making the purchase during the time of construction, they may offer you options to upgrade certain build materials as well as interior furnishings. This almost always costs more but having aspects of your home that you’ve actively been able to select in order to make it different will be important to a lot of homeowners.
Smart technology is devices that are fitted around your home that bring greater convenience and capabilities to your everyday living by leveraging the connectivity of the internet. One example might be security cameras that can be accessed and monitored from your phone, or speakers that are controlled using any of your mobile devices. Such technologies are often embraced by builders looking to keep up with the increasing expectations of contemporary buyers.
Custom homes take months to build
If you’re looking to move as soon as possible, the waiting time of a custom build will be a major drag. Building projects can often take longer than initially planned, so when you’re buying a property that’s not yet completed, you should always prepare for delays.
New build projects usually follow a certain style
In most cases, a contractor will be building a set of houses or an apartment building with all units following a universal template design that has been selected to appeal to their target audience. This means all houses or flats in these types of development projects are going to be almost identical to one another on completion. If having a very unique home is high up on your priority list, this can be a bit of a snag.
The vast majority of new build homes will be built further from the centre of urban areas where there’s more space, or in form of high-rise apartment blocks crammed into the limited spaces that are available closer into town. If you need to work in the city, buying a new build often means either having a long commute or accepting less space for your buck in cozy sized accommodation.
Gardens and landscaping
Older properties tend to feature older and fully grown trees or bushes. This is essential if you have a persuasion for established gardens. Mature trees bring a lot to the table. As well as adding bags of character to outdoor spaces, large trees offer great shade, wind protection, increased privacy, and bear larger portions of flowers or fruit in season. New build homes, in contrast, are likely to incorporate far less mature trees that will take years to grow. Urban new builds can tend to feature far less foliage in general due to lack of space and minimalistic design.
Homicity helps you find your dream home in the perfect community. Whether you are buying, renting, or selling, you can navigate the Canadian real estate market with confidence with our expert advice, market news, and recommendations powered by AI.
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