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Thread: Would you rather buy an older/larger home or newer smaller one? (Details inside)

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    #1

    Would you rather buy an older/larger home or newer smaller one? (Details inside)

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    My DH and I are throwing around the idea of possibly buying after we PCS (assuming we go where we want, and assuming that the orders are for more than 3 years). Again, this is mostly just talking and dreaming

    We've noticed when browsing homes for sale that we are going to end up in 2 different scenarios:

    - buying an older home that NEEDS renovations and updates, but that is much larger and has a larger lot (land).. .OR

    - buying a new (or even brand new home) on a tiny lot that won't require renovations


    Obviously, buying new gives you the peace of mind that things (probably) won't break and aesthetically, it's going to look better right off the bat. BUT, it seems if we opt for an older home (I'm talking like 1930's - 1960's build), we can get much more yard, sometimes even larger homes (2400 sq ft or more), but obviously things need updates and they're gonna be ugly at first. I like homes that are really solidly built and not just thrown together in a month, but I know that with our first home, we probably aren't going to end up in our "dream" home anyway....

    I'm sort of in love with the idea of making an ugly house attractive, but I know that it could easily become a money pit. If you were buying, what would you rather do? Has anyone ever "fixed" up an ugly house?

    For example, I am sort of in LOVE with this house. It totally looks like a little cottage, complete with picket fence. I talked to the RE person and they admitted the house needs all new flooring throughout, new paint inside, and all appliances...it's a short sale.
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    pretty house!!
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    #3
    Well., we're looking into buying right now as well, and I'm leaning towards a smaller home that's new aside from one with updates. BUT, that's because we aren't in a position, financially, that we can fork out 20,000 on renovations for a home that we may not live in forever. We're looking into townhomes/home that are newer, 3 bedroom, etc.

    BUT, that's also just better for the area we're looking in. VA is expensive as balls.

    But I adore that home you posted a pic of..
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    #4
    I would be all over this older home. Your home inspection will tell you most of what you need to know. Buy with a reno budget in mind and you'll be fine. SO cute!



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    #5
    Older. I will always live in old homes. I will never live in (once we own) something newer than 1940. Old homes have history, charm, and real building, vs. newer things which to me, dont have much soul. I love the soul of an old house. Go older!!!
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    #6
    I love the idea of buying a home from the 1960's. I love the set up and style, and I feel like an older house might be built better.


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    #7
    for me it would ultimately depend on the inside. how spacious it is and especially how big the bathrooms are in the older home vs the newer home. cause i HATE small bathrooms. i'm always down to fix a house up as long as i know it'll be what i want and love after it's finished.


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    #8
    Quote Originally Posted by Miriah View Post
    for me it would ultimately depend on the inside. how spacious it is and especially how big the bathrooms are in the older home vs the newer home. cause i HATE small bathrooms. i'm always down to fix a house up as long as i know it'll be what i want and love after it's finished.
    Same here. For me I need the flow of the house to fit what I like. I tend to prefer more open floor plans which usually means a house on the newer side of things.
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    #9
    Older I HAVE to have land a tiny house would just frustrate me. I can't stand cramped houses, I MUST have a huge yard, and I must have a giant kitchen too! So to me repairs to the older house would be worth it, and there is no way I'd settle for the smaller house..
    Last edited by LoveMikeyBear; 06-15-2012 at 10:21 AM.
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    Older home, more land.

    I've lived in the new build thing before and it's not always what it's cracked up to be. Builder grade carpet can be ugly and crappy, so could still need replaced. Upgrades can cost ridiculous amounts.

    I also like to put my mark on where I live, so we tend to be project people. If a house was done, I would find it boring.
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