Many homebuyers focus on the location, essential amenities that are available and the price of the homes when they plan to buy a new house in Edmonton. What they often fail to consider is the age of the house. The age of the house plays a vital role in contributing to its overall condition. There are several different elements you need to consider such as the cost, mortgage rates, underlying problems, etc.
If you are confused whether you should buy a new house or an old one, we are here to help you. Here are a few pros and cons of buying a new or old house in Edmonton.
Pros of Buying a New House
-
As the newer houses are recently built, the chances of problems arising and need for repairs in the near future is less.
-
Newer homes have newer features such as good wiring network and modern design. You won't have to settle for old home design, technology, appliances, and other features.
-
Not only this, but newer homes are also built with energy efficient features. Newer homes may have features like LED lightings, energy efficient plumbing fixtures, energy-saving windows, and solar panels.
-
Newer homes are built according to the latest building codes in Edmonton. This means that the chances of facing legal problems due to non-compliance with building codes are low.
Cons of Buying a New House
-
If you are a nature-lover and love tall, green trees around your house, you will have to wait a few years for the entire area to become green. It can take a long time for trees and even plants to grow around newer properties.
-
Most homes around the downtown Edmonton area are old. Newer homes are being built in newer neighborhoods. No doubt these neighborhoods also have ample of amenities and facilities, but regular access to downtown Edmonton can be a problem.
-
Some newer homes in newly established neighborhoods may all seem the same. Almost all homes may look similar as if the builders used the cookie-cutter technique to build homes.
Pros of Buying an Old House
-
Older homes were built in well-established areas of Edmonton such as downtown. Buying an old home can provide you access to most facilities, amenities, public transport options, and recreational facilities.
-
Upgrading an old house according to your choice may seem like a good idea. Nobody wants to spend millions on upgrading a new house which has been recently built. This means, even if the older homes seem outdated, you can upgrade them the way you want.
-
You can get a larger property as most older homes, especially single-family detached homes have a large interior as well as outer space.
Cons of Buying an Old House
-
Older homes may have components like polybutylene plumbing pipes and lead paints that can be harmful to your health.
-
Older homes might have major plumbing, electrical, structural, and other problems underlying which you may not notice while inspecting.
-
Finding and buying an old home can be a difficult task, and the competition is always high due to the numerous features and facilities available.