The preconception is that new homes cost more than older homes, but that's not necessarily true across the board anymore. As the price of land increases, the average size of new home lots is shrinking. Consider California, where neighbors can practically crawl from their living room window into the window of the home next door.
Urban buyers will find on average, larger lot sizes which make the older homes cost more than the entry-level new homes being developed in the suburbs on the outskirts of the city.
Consider these pros and cons when deciding between a new home and old home.
- New Homes Are Built To Be Low Maintenance
New homeowners are not likely to install a new roof or replace the water heater. The electronics wiring should be solid and the plumbing isn't going to need to be replaced. New homes are built according to the most recent construction codes and shouldn't need to much repair and maintenance. At least not for 10 - 20 years.
- Older Homes Typically Have A Larger Yard
Land was cheaper 'back-in-the-day' and for that reason, older homes typically have considerably larger yards than new construction.
- Older Homes Have More Character
Whether its a Craftsman Bungalow, Mid-Century Ranch, Greek Revival, Colonial or Victorian - hand carved character and interesting architectural features are present that a lot of new construction lacks.
- New homes are bigger on average
'Bigger is better.' It's typical to see an urban two bedroom home with 1,000 square feet sell for the or more as a two-story, 2,500 square foot home in the suburbs. When builders can't build out they build up.
- Older Established Neighborhood
Zoning Changes are rare, the neighborhood may be deemed historic and a lot of your neighbors may have been living in those homes for generations. The trees are often older and provide a nice shaded canopy for the yard and walkways.
- Old Homes Require More Maintenance
Floors may slope, chimneys and stone foundations require tuckpointing. If the home was built before sewer systems, the cesspool might overflow into a sewer. Those old tree roots may break up sewer pipes. It's expensive to replace the wiring and plumbing in old homes.
- New Homes Usually Mean Longer Commutes Downtown
There's typically not a lot of prime land for suburb development downtown, which means if you want something new you probably have to look on the outskirts of the city. This can be nice if you like knowing you're away from the chaos of downtown but if you need to commute an hour into town every day for work - this is a drawback worth considering heavily.
- Old Homes Have Small Closets and you may have a carriage house instead of a garage.
People didn't have wardrobes like we have today, there often wasn't a need for a walk-in closet or two car garage. Victorian homes may have a carriage house instead of a garage. And with the exception of estates, older homes typically have less square footage than new construction.
You can check out the homes we offer by clicking the links below.
---> New Homes for sale in Myrtle Beach area.
---> Older Homes for Sale in Myrtle Beach area.