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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 décor 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home may have outdated knob-and-tube wiring, and even a recently built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
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