If you’re currently looking to buy a home then perhaps one question you’ve considered is whether to buy a new home or an old home. In terms of a home’s age, there could be pros and cons to both. For one, an older home has charm and built-in character. On the other hand, older homes generally require more work and maintenance. With a new home, you have the ease and luxury of moving in without worry of upfront costs for necessary repairs. If you’re a first-time buyer then this decision can easily weight more compared to someone who is buying a property for investment opportunities.
Luckily in El Paso’s real estate market, there is an opportunity to make this decision with the freedom to explore both new and older homes. As our city grows so does the development of new homes. Today many long-time residents in older neighborhoods are taking advantage of new homes, leaving the opportunity for newcomers to buy their older home. As a new home builder, Zia Homes works with first-time, second-time, and even fifth-time homebuyers. During our 30 plus years of building homes in El Paso, we advocate the benefits of investing in a new home but have also come to understand why some people choose to go with an older home. Our goal is to help you make a decision that makes the most sense for you! So let’s explore the concept of new vs. old.
Advantages and Disadvantages of Buying an Older Home
First and foremost, location is everything when it comes to real estate. If you’re aiming to be in a location with an older property then you’ll want to stay in the central part of town and not go too far east or west. You’ll find older homes in these neighborhoods as many retired El Pasoans decide to sell and move elsewhere. If you’re set on this location then here are a few advantages you’ll experience:
- Vintage construction. As many of these older homes were built in the 1940s, 50s, and older, the construction will reflect those decades. Your home may have a fireplace, standing bathtub, intricate built-in bookshelves, wooden floors, and a backyard with trees that could be 50 years or older.
- Long-term neighbors. Since El Pasoans tend to pass down homes, you could find neighbors who grew up in the neighborhood and inherited the home from their late grandparents. You might also find that everyone knows each other.
- Established neighborhood. Older homes may not be in proximity to new amenities, which could be an advantage or disadvantage. Your home will likely be closer to an established church or school than it will to a new movie theater.
Now, here are the disadvantages to older homes:
- Costs for updates. Since older homes may not have new wiring, appliances, and/or a heating and cooling system, you can expect to pay for upgrades.
- More maintenance. To keep your older home in running condition, you will need to prepare for costs in sewage systems, plumbing, and even foundation trouble as some floors could be slanted.
- Generally more expensive. It used to be that newer homes cost more than older homes but today that is not the case. Older homes are located in neighborhoods with higher real estate value given their historical value.
The Advantages of a New Home
If you’re thinking that perhaps an older home isn’t up your alley after all then it’s time to explore why a new home will benefit you in price, amenities, location, energy-efficiency, and more! Contrary to the costs of maintenance that you can expect upfront with an older home, new homes for sale are move-in ready and include new kitchen appliances, wiring systems, and never-before-used bathrooms and sinks. Other major advantages of new homes include:
- Energy-efficiency. Since new appliances use less energy, you can expect to save money on your electric bills. You’ll also notice it requires less power from your HVAC system to cool and heat the home.
- Developing neighborhoods. New homes for sale are built in up and coming neighborhoods. This allows you to be part of the growth. You’ll also be in a neighborhood that has relatively less traffic.
- Fewer costs. Generally, newer homes cost less per square foot. This allows you to take advantage of having more square feet if you so desire.
Learn More About Our New Homes for Sale in El Paso
When it comes to new homes for sale in El Paso, it’s important that you find the right home builder. Most importantly, that you go with a builder who understands your needs and desires for a home. If you’re still exploring the concept of new vs. old, we invite you to take a tour of one of our model homes so you can experience the look and feel of a new home. We guarantee this will help solidify your decision. Connect with us today to learn more.