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| Refurbish | 58% | 164 votes | Total: 281 votes | |
| New | 42% | 117 votes |
Refurbish
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Add to FavoritesWhen shopping for a home, you may find yourself standing in a brand new house, marveling at the granite countertops and lovely bamboo floors. The paint is brand new, the appliances have never been used and the hardwood floors have yet to sustain so much as a scratch. You're in love (what's not to love?) but your real estate agent is pushing you to see others before making a final choice. You walk back down the brand-new driveway, glancing back over your shoulder at the newly-landscaped lawn, and begrudgingly leave to see an older home not far away.
While new houses have all the appeal of everything that buyers are looking for at that particular point in time (think wood paneling in the 1970's, floral wallpaper in the 1990's and neutral, earth-toned walls today), an older home can be a much better investment. Sure, the new home has that ultra-modern sink in the ensuite, but it can be easy to forget that buyers are paying a premium for these kinds of amenities. Builders know what buyers are looking for and outfit their new homes accordingly, hoping for that instant rush of perfection a buyer feels when they walk in the door. However, that same feel can be created in an older home, and at a much lower cost.
Look past easily-fixed cosmetic issues such as ugly carpeting or questionable paint on the walls. These things can be changed easily, and the cost to fix them will not leave you nearly as short as buying the brand new house may. Older homes may have issues such as a roof needing repairs or windows which need replacing, but these short-term investments are counteracted by the fact that you are investing in a home which ultimately you will enjoy living in more.
The brand new suburbs being built in cities nationwide today are mostly identical. The houses are identical to each other (or at least many others on the same street), packed in close together to optimize the use of the land. Older homes, built during a time when quality usurped quantity, enjoy more space, larger yards, longer driveways and mature landscaping. That means, you don't have to wait 15 years to enjoy that seedling in the middle of your front yard. The hedge behind the house is already mature enough to afford you some privacy and your neighbors aren't necessarily an arm's reach away. While you're awestruck by granite and hardwood in a new home, it can be easy to disregard important aspects of the home such as the size of the lot, but the first time you try to enjoy your backyard you may find that your neighbors are all a bit close for comfort.
Choose a refurbished home over a new one. Breathe new life into it and make it yours. Enjoy living in an established neighborhood with an existing community, and revel in the fact that you can enjoy a book in the backyard without having your neighbors reading over your shoulder.
Learn more about this author, Lauren Hewitt.
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New
The refrigerator stops "freezing", the oven stops heating, the AC's blower stopped working, the main bath's shower pan broke and water is leaking into the living room downstairs; the dishwasher refuses to begin it's rinse cycle, the sink serator's motor burned... and we just used $25,000 from our equity line of credit to pay for last year's taxes and replace all three bathroom vanities, a new clothes dryer, and re-do the pool enclosure screen which the homeowner's insurance did not cover because the cost did not exceed the deductible.
As a home gets "older", so does it's structure, appliances, windows, cabinets, floors, etc., etc., etc., Since the real estate market is not in the condition to take anymore sellers into frame, we have had to maintain the refurbishment of our home... and when we do finally sell (whenever that happens!), we will buy NEW !
Our home was built in 1991, it's only 17 years old! You would figure that it should keep up a little better, but we purchased the home in 2001 and later found out it had been rented for ten consecutive years! Many families came and went, many leaks had been covered, many times repainted, many holes re-plastered.
Countless have been the nights I wonder how well I rechaulked the bedroom windows so windy raining water doesn't stream down the walls during a hurricane. Every year, after year, we spent approximately $5,000-$7,000 in upkeep maintainence. It's a 5 bedroom, 3.5 bath, pool home -go figure ugh? The pool has to be refinished by the way, there goes another $9 to $14,000 worth of Diamond Brite.
I can't take it any longer. I would love a breather for at least the next 7 years. I wouldn't even mind moving every 7 years just so I don't have to deal with these constant costly renovations. I love my home, but I also need to see it in good condition and it hurts when I look at my ceramic floor tiles and wish I could replace them with porcelain tile (because Travertine would be too costly). New is the way to go when buying a home unless you are buying into a neighborhood; then prepare your savings account or use your vacation money to make necessary upgrades and replace the out-dated kitchen cabinets.
Unless you are buying into a million dollar neighborhood in which homes were built back in the 1920's or in the 60's, are all sitting on an acre lot, and have all been updated with granite counter tops, solid wood cabinets, wood vertical blinds, tempered glass windows and doors, knock-down ceilings and walls, upgraded landscaping pieces of art, jet streamed whirlpool baths and multi-leveled shower heads, without mentioning the cascading pool, then it is every penny and moment of your valuable money and time to invest (notice I said invest) in a refurbished home; otherwise, buying a brand new cookie cutter or even having made to order will bring you the next couple of years of peace giving relaxed mind frame that you can put your money into something a lot more fun such as decorating !
Learn more about this author, Daisy Rosario.
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