Colorado New Home or Resale? Weigh Your Options:

Considering a new or resale home in the Denver CO area?  Not sure what type of property suits you best from older, historic, in town and full of trees to new on the outskirts with newer finishes, spacious rooms, energy efficient furnace and appliances and durable materials.  There may be a internal connection with a childhood home we fondly remember when we grew up, or something that makes our strong familiarity with memories of a prior place we know well that makes us long for a home like where we were raised. Many of us long for old homes built with solid construction, quality craftsmanship and beautiful details which is so different from the modern convieniences, fresh smell and personalized choices just your own when considering a new home. We recall the hand carvings, plaster walls and eyebrow dormers of homes we've known in an older style home you remember. On the other hand, how do the old homes we admire compare with new models, and what should we consider before deciding which to buy?  Buyers can be torn between the older homes with character and the new homes with new styles and larger room sizes.

Location.

Typically, old homes sit on larger lots of land in or near the town center. The neighborhoods are established and usually more central to schools and shopping. Mature trees and plantings provide shade and beautify the property and neighborhood streets. New homes are generally found in new developments outside of town and homeowners who buy into an early can expect to contend with dust and construction sights and sounds as the remaining phases are being built. Landscaping may be skimpy or nonexistent, but a buyer has the opportunity to design the decor from scratch.

Layout and Floorplan.

New homes tend to have a more spacious functional layout with higher ceilings, bigger windows, family kitchens, walk-in closets, and family rooms. Some even have media rooms and come pre-wired for cable and computers. On the other hand, older homes were designed for a more formal lifestyle, which is reflected in the formal dining and living areas and many cozy rooms, including small bedrooms, closets and bathrooms.

Energy efficiency.

Those eight-over-eight single pane wood windows add character to an old home, but even with storm windows, they're not nearly as energy efficient as modern dual-glazed or thermal windows. While most old homes lacked insulation in outside walls and attics, homes built today insulate against high heating and cooling costs. Although the bigger windows, higher ceilings and larger rooms, common in new homes, can also cause high utility bills.

Maintenance.

With older homes, upkeep could be more expensive because of older appliances, plumbing and electrical systems--not to mention the roof--may need to be replaced. A turn of the century home may have outdated knob-and-tube wiring, and even a recently built home may have an inadequate fuse box-style panel that falls short of the energy demands of 21st century families. But new homes generally come with warranties that will cover the cost for most major problems.

Price.

Older homes are usually less expensive per square foot. In addition the tax structure is more predictable because the neighborhood is already established with amenities that newer neighborhoods are still in the process of gaining, such as schools, police and fire services, and infrastructures (roads, sidewalks, etc.). However, with restoration costs a possibility for older homes, your dollars may very well be spent on the back-end rather than upfront.

If the charm and beauty of an old home is what you like best, hire an inspector to evaluate the home for lead paint, insect and water damage, lead and/or galvanized pipes, outdated wiring, foundation problems and energy efficiency, including windows as well as heating/cooling systems and insulation. After you get answers to your many questions, you have one last consideration: Does the home fit your lifestyle or would the conveniences of a newer model suit you better? Only you and your family will be able to answer the most critical questions.  It is an important decision, and if you have further questions, ask your real estate agent to see if they can help you.  Please call Frank Nuebel to discuss the possibilities and have him represent you as your professional real estate agent to assist you.  Call him at 720-273-2514 or click on the contact us button above.

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