 |
|
|
|
 The Advantages of Both New and Older Homes...By David Herbst |
||
The New Home Advantages: Predictable cost & low maintenance... For quick appreciation and low maintenance, the new home is the advisable way to go, assuming competent design and craftsmanship in the new house. The major mechanical systems - plumbing, wiring, heating and air-conditioning systems as well as structural members should hold up for a long time after purchase. You can expect a minimum of repair and fix-up problems. New homes usually have the latest open floor plan
designs, kitchen and bathroom layouts, as well as adequate storage and closet space. They
also include, in most purchases, window treatments, modern appliances and fixtures.Disadvantages: Location...Communities tend to grow from center out, so new developments usually are located on the fringes of suburbia. That means a long commute to downtown, both for work and personal outings at museums, restaurants and theaters. Shoddy construction is always a concern, as is also
a lack of trees or mature trees, or look-alikes that do not give your home its own
characteristics, and most importantly, lot size. New homes, especially condos, tend to be
built on smaller lots than older homes. It is the lot that will continue to appreciate
long after the structure has been depreciating for years.
The Older Home Advantages: Location An older home is often located near work, schools, shopping and transportation. Older homes have individuality, character, built-ins and personal touches that the previous homeowners installed with loving care. Usually, older homes have better construction and their own ambiance. The property taxes are lower, with mature trees and lawns. And very importantly, the lots are usually larger. |
 Disadvantages: Unless an older home has been modernized, its floor plan and traffic flow may not suit modern living as well as that of a new home. Unpredictable repair expense and/or cost of modernization can be expensive. How
to Decide When money is an object, and if you are handy in home repair and construction, an older home or a ‘fixer-upper’ may be your cup of tea. In most cases, you can use the repair work as your down payment for FHA loans, also known as ‘Sweat Equity.’ However, if you want to enjoy modern living at its
best, can afford the higher taxes, and higher association fees when your purchase is a
condo, then the new home or new condo is what you will most likely decide to purchase. LVN David Herbst has lived in Las Vegas since 1976, in Real Estate since 1979, and is a member of the local, State and National Association of Realtors. He is a member of the Las Vegas Chamber of Commerce, and is a Realtor Associate with Liberty Realty. He can be reached directly at (702) 498-4683. |
|