New Homes vs Old Homes: Which is best?

You are the first person to live in that property, it is a fresh start and a blank canvas. You won’t have any bad DIY or dodgy decorating to put up with and you can add your own individuality to the property as soon as you move in.
Brand new appliances- in new homes the kitchens and bathrooms are brand new and installed to a very high standard. For some people there is also comfort in knowing you are the first use the facilities.
No chain- once a new home has been built it’s ready to move into, you don’t have to wait for the existing owners to move out or any lengthy buying chains which can be frustrating.
Energy Efficiency- New homes have to be built according to the latest environmental standards and as a result they are a lot more energy efficient which can significantly reduce utility bills.
Less Maintenance- A new home should theoretically require less maintenance as the property is newer and less likely to have faults.
Special Incentives- Many new developments offer incentives such as Part Exchange, Shared Equity and Deposit paid saving you a great deal of time and more importantly money.

Less Space- The majority of new homes are built close together and do not have a lot of land attached to them.
Difficult to sell- In very large developments you may find that you have more competition if you decide to sell your home as another property with the exact same specification might be for sale just around the corner.
Building Site- If you move into a new home before the development is complete then you may find that you are living on a building site for a few months which can affect parking and noise pollution.

Period/unique features- Older properties tend to have a period charm that is very appealing to some home buyers, whether it is beautiful fireplaces or exposed beams period features can be a real selling point.
More Land- Typically older homes have more land attached to them, it isn’t always the case especially in inner cities areas but sub-urban or rural locations often have a good sized garden.
Development opportunities- Buying an older home gives you the opportunity to renovate the property and make your mark on it. Adding a new kitchen or a new bathroom can add significant value to a property as we’ve explained in our Top Ten Tips to Add Value.

Initial DIY- Buying a home that has been lived in before means that you will probably have to do some initial decoration or renovation. Everyone has different opinions when it comes to interior design and just because the previous residents loved bold prints does not mean that you will.
Cleanliness- the previous residents may not have been as house proud as yourself and you could spend a long time cleaning the property so it meets your standards and feels homely.
Faulty appliances- Unless the property has recently benefited from the installation of new appliances then the chances are that they won’t last as long as the appliances in a new home and you may need to invest in repairs/replacements.
Long buying chains- If there are a lot of people involved in the house buying chain the the process of buying a house may be a lengthy one.