Old House or Newly Built House? This is something to consider when you are looking for a place to buy. Housing will always cost a good amount of money but in the long run as compared to renting, you will end up saving more. Of course not everybody thinks the same way but for us, having our own house will further give us more benefits in the future.
Though old houses might cost much lower than new ones, there's so much to check and consider when you get an old house. Depending on how old it is, the maintenance and certain retrofit will definitely play a bigger role in determining the real value of the house. Will you really save in the end? As we all know old houses mostly are outdated in which will require more attention than new houses. Having a new house might be more costly but you'll definitely have at least 5 more years before any maintenance job has to be done.
Insulation is a big deal when it comes to houses. Old houses are mostly poorly insulated and having to re-do the whole insulation process will be a big headache. New houses on the other hand are very updated, a new building material which is called ICF insulated concrete forms does a great job on this aspect. Using this material, insulating basement walls and any other walls is no longer an issue. It is made from cement bonded wood fiber making it more structurally sound than regular gypsum or hard wall system.
For us having a new home will be a more practical choice but if a newly remodeled old house comes to the picture then that's a thing to think about. Price will still determine which one we can affordin the end.
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