Nothing is as exciting as a new house. It's typically the biggest expenditure you've ever made and something you've been saving for over the course of years. You evaluate options in search of the perfect home for you and your family which suits your lifestyle and style preferences. Some people love the historic architecture of an old house and are willing to fix it up to modern standards while others would rather start with a new house custom built to their needs. Most people can appreciate both styles and consider the advantages and disadvantages of each.

Pricing Considerations

Pricing is a major consideration for most people. Although your home is worth as much money as you can afford to spend on, anybody in their right mind will consider ways to lessen the expense if possible. Generally speaking, the fixer-upper house is going to be less expensive than the new one. However, the fixer-upper is likely going to have hidden problems you and your contractor aren't aware of until the work begins which means you'll have to incorporate a more flexible budget. You also need to set money aside for more repairs and maintenance as they come up in the near future.

Layout and Design

Your goals toward the layout and design styles are much more easily attainable with a newly built house as you're starting with a blank slate and make those decisions before you even begin the project. Of course things can be changed in an older home but doing so defeats the purpose of fixing it up. Often an older home is going to have features which hold a particular historic value and you wouldn't want to change them even if you prefer a different style. If you do prefer a particular historic style, it may not be readily available with modern building techniques and standards and would require the expense of custom manufacture.

Location

Location is always a primary concern toward your home. Often an older house may be located in a neighborhood which has deteriorated. On the other hand, in an urban setting older houses may be all that is available, or if you want to live in a specific neighborhood there may not be adequate lots available to build a new home. Local codes and HOA rules may dictate which process is going to best suit your needs if location is more important to you than the actual house you choose.