New or Used: What is the Best Albuquerque Home For You?
If you're thinking of purchasing a home in Albuquerque, you have one big decision to make as you start your search. You have to choose whether to buy an existing property or a new one. In the decision-making process, you have to weigh the pros and cons of each.
In the past, buying a new house was almost always more expensive than buying an older one. The cost of building materials is lower now than in the past, so price isn't necessarily a determining factor, or at least not the primary factor for most people.
What Are the Upsides of Buying an Older House?
Some of the benefits of buying an existing, older home might include:
- Higher quality construction: This is not to say that new homes cannot be well built, but older homes often have a higher level of attention to detail that is harder to find in something newer. The craftsmanship used in the building of these homes was often a point of pride for the people who worked on them and lived in them.
- Bigger yards: Land used to be cheaper in the past, so older homes will have larger yards.
- Character: An older home may appeal to you because of its charm and character.
- Established Neighborhoods: There are fewer trees in newly developed neighborhoods, and they go through some growing pains. With towering trees and mature shrubbery, an established neighborhood may be more beautiful.
- More walkability: You're likely to find that older neighborhoods are more walkable, and they tend to be closer to city centers, as opposed to newer houses which generally sprawl farther and farther away from cities.
What About the Downsides of an Older Home?
Buying an older home isn’t all about the dreamy craftsmanship and charm. There are certain negative aspects to consider. Here are some examples:
- Smaller spaces: Older homes tend to have more rooms and are less likely to have an open-concept layout. Older homes will have smaller spaces than what we see today. Some homes have smaller garages and closets, and it may be difficult to remedy this problem.
- Maintenance: With older construction, it's hard to find a low-maintenance home. You may discover tree roots interrupting your sewer line or a foundation problem.
- Updates: An older home may need to be updated in addition to regular maintenance. In order to make the home truly functional for your needs, you might have to remodel the kitchen or the bathrooms.
What Are the Pros and Cons of New Construction?
You're likely not going to have to worry about any maintenance with new construction, as well as the fact that these homes have modern features that make life easier. Typical features of a new construction home include a built-in dishwasher, wired for electronics, and even wine coolers.
There is even a builder's warranty on some new construction homes. You can save money on heating and cooling by buying a newer, energy-efficient home.
The construction of a new home will adhere to current building codes, and when a new home is bought, it feels like yours immediately, rather than carrying the emotional baggage of people who have lived there before.
Finally, new construction can have the downside of lacking warmth, charm, or uniqueness. When you buy in a neighborhood with tract homes, every house will look similar.
It is likely you'll see a lot of dirt during construction as there are not many mature trees or yards in these neighborhoods.
Because newer neighborhoods are not close to downtown Albuquerque, your commute time may be longer. Also, new homes settle, so you may notice cracks in your walls and door frames.
There are clearly pros and cons to both options, and you must choose the home that works for you. People have a tendency to think they want one thing and then realize when they start searching that it isn't right for them. For example, you might think you want a charming older home, but as you begin your search and you start calculating the cost of upkeep, you realize you’re not ready for that. In short, do your research and relay on the expert help of the Realtors at The Sandi Pressley Team.
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Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.
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