Title of Question:
old house or new
Name:Ted City: Baltimore
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| Question: Am I better off buying a new house or an older one? What will cost less in the end? |
Post Your Answer To The Question Above:
| Answer: In many ways, the difference lies with what style you like and your thoughts on home improvement. I, personally, love old houses and all the character they provide. Old houses often have more character and quirky charm, but they can require moremaintenance. If well built, however, they can be much sturdier than a new house. New houses ideally should not require more than decorating. The bonus to building a new house is that you can decide a lot about what it looks like and pick out the floor plan. The cost difference is hard to calculate because it will vary by your local market. A lot of times you can get old houses for a good price through estate sales, etc., but then home builders also are discounting now. I would find a good real estate agent who can take you through some of each. I think you'll quickly gravitate toward one or the other. |
| Answer: Hi Ted! If you do decide to buy a pre-built house, particularly an old one, you should be sure to hire a professional home inspector to assess the condition of the home's features. Things they should definitely check out include the foundation, walls, floors, ceilings, windows, doors, the basement, plumbing, electrical, and heating and cooling systems, and the condition of the roof and attic. This inspection will give you a good idea of how much additional work and money the house might require that you put in, immediately after purchase, and down the road. Make sure that the purchase contract for the home includes an inspection clause. With this clause, an inspector will examine the house after the contract has been signed, and if he or she turns up any big problems, you will usually have the opportunity of walking away from the contract. |
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