Which Home Is Cheaper In The Long Term?

So here you are, ready to enter the property market, and you’ve already discussed with your banker the best mortgage options? Congratulations! However, if you are ready to buy your first or your next home, you need to decide now whether you want to invest in an old property or whether you would prefer a brand new home. While your banker can advise you on the best financing options for your situation, it’s very unlikely that you’d know a banker who also happens to be a real estate expert. But not to worry: We can help you with that. You should always choose a new build and here’s why it’s this expensive home will save you money in the long term:

#1. Ready to move in

When you buy a newly built home, you can move in as soon as the home builder has given you the keys. There’s no need to wait for the previous owners to move out or the renovation work to finish. New builds are ready for you to unpack and settle in. Admittedly, they often feel like a blank canvas at first, but it’s a canvas that you can easily populate with your furniture and your interior style.


#2. No extra cost

Buying a house involves a lot of additional costs, from emergency repairs to changing the bathroom setting. After all, it’s normal to want to remodel the rooms to suit your tastes especially and if didn’t enjoy the décor created by the previous owners. As most homeowners end up spending in average from $17,000 to $61,000 in renovation and remodeling, it’s easy to see how a property that seemed cheap at first can dry out your budget. With a new build, you have none of those issues. The properties are fitted with a minimalist décor so that they can easily attract a variety of buyers, and the latest features regarding plumbing, electricity, bathroom, and kitchen.  


#3. No additional health risk

New builds have to respect health and safety building regulations, which means that builders don’t use any material that could be potentially dangerous for your health. Older properties, in comparison, are a lot less safe. Homes with a cracked foundation can suffer from high level of radon, which is a radioactive gas that circulates underground and can enter your house through the foundation. Asbestos, which can be present in the walls, can – like radon – cause lung cancer. And we haven’t even mentioned the risk of a weak structure yet! So old sweet homes are not always safe.


#4. It’s energy efficient

There’s another thing that old homes aren’t: Energy-efficient. More often than not, the insulation needs changing, and the windows let the air in. As a result, you end up paying up to 75% more in electricity – in an attempt to keep you warm – than you would in a new build. New builds use the latest insulation materials that guarantee to keep the cold and the heat out. Besides, you don’t only save on your energy bills; you also save the planet by reducing your energy consumption. What’s not to like?

While buying a new build might seem like an expensive investment, you will love the potential of a sturdy and energy-efficient home that is ready to move in. No more worries: You’re ready for a fresh start.

Leave a Reply

Your email address will not be published. Required fields are marked *