Buyers are often tempted if they should consider older or new homes in Windsor Ontario. It really is a complicated decision because buying a home today means that in order to receive maximum return, you will need to stay in the property for several years. So buyers should really have a good idea of what they want in a home. Of course, like anything, there are advantages and disadvantages to both decision. When clients come to me and say they are torn about what type of property to buy, I always suggest we tour both types of homes. It’s usually not too long before a decision can be made.
Let’s first discuss the advantages of older properties:
1. Large lots/outdoor space. In older, more traditional neighbourhoods, you will see large outdoor space instead of homes that are practically sitting on top of each other. In the years past, land was cheaper, so that is why older homes have more of a yard. This can be very appealing to those with children who will have plenty of areas for play. Also, many buyers like the idea of mature landscaping.
2. Character. Homes in older neighbourhoods all look different. You will rarely find a property that looks like anyone else’s home. Many of these houses have wonderful stories to tell and yes, it’s true, they don’t build them like they used to. Lots of these homes have wonderful fireplaces, special built-in, quaint features, crown molding, original hardwood flooring. The list goes on.
3. Well-known, established neighbourhoods: In older areas, you will find a history that is well documented and has an excellent reputation. Some of the best areas in any town are the older ones as they have aged well and still continue to be on any buyer’s short list.
1. Older homes can be more expensive. They need constant maintenance and upkeep.
2. Updates will be needed as well. Older homes have older wiring and plumbing. If it hasn’t been updated yet, it may need to soon.
3. Smaller storage. Older homes are known for having smaller garages and storage space. Years ago, people didn’t need so much stuff. For some reason, today’s population has more personal belongings than ever, so having a place to put it all is important.
Advantages of new properties:
1. It’s new. There’s something to be said about moving into a property that is all yours! The home hasn’t had any previous owners so all the decorating, paint and flooring choices as well as appliances, are all yours! You don’t have to worry about old wallpaper, carpet or landscaping because you are the first owner!
2. Modern appliances. Having the latest in appliances is critical for many buyers. Usually these are stainless steel and energy-efficient.
3. Modern conveniences. Of course, most new homes have the latest in wiring systems, Internet, top of the line features, including security that is hard for a buyer to ignore.
4. Large square footage. Most newer homes are big with open, spacious layouts. Buyers like to have a kitchen that walks into a family room. With older homes, the kitchen is usually a separate room.
5. Warranties: Most new homes have a one-year warranty on all home features. So if something happens with the plumbing, it’s taken care of. The same goes for any wiring or electrical issues.
1. Every house looks the same. There really are no one-of-a-kind special feature in a newer home because chances are, your neighbour has the same model. Also, floor plans are similar as well as the tone of the neighbourhood itself.
2. Landscaping. Most newer homes usually don’t have much original landscaping. For many, you get a front lawn and a tree with maybe a few shrubs. Keep in mind that it often takes years for a neighbourhood to have that mature landscaping. A buyer needs to decide if is this is important.
3. Neighbours. Moving into a new development poses lots of questions, like, “Who will be my neighbours?” Will they be noisy, keep their home in good condition or will they repair their cars on the front lawn and party day and night?” How the quality of the neighbourhood will be is anyone’s guess.
I suggest that home buyers make a list about what is important to them. Usually once this list is completed, it is apparent on what type of neighbourhood they should start their search. If, after several homes have been viewed with no luck, then it may be necessary to switch neighbourhoods.