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What Are The Advantages Or Disadvantages Of Buying, A Lived In Home

Nowadays people have the notion that buying a new home is much better than getting a lived in a home and then refurbishing it according to one's taste and preferences. Well, both options have their advantages and disadvantages.

Some of the Advantages of Getting a Lived in Home Could be:

1. The Old Style of Construction: One of the fascinating things about lived in homes is that the amount of meticulous labor that went into ensuring that nothing but the best was done in constructing the house and thus the unique and captivating appearances of old homes.

Most lived homes could be of the old designs that's why they stand the test of times through all the natural calamities and shake-ups, for example, earthquakes. These old style houses when enhanced with the latest designs and regular maintenance can give a good and very appealing outlook to the eye.

2. Cost Friendly: Lived in homes aren’t as expensive as buying a new home in the market. With good maintenance, well taken care of gardens and hedges they are cheaper than a new house of the same stature in the same area and the same size. It would be much more costly.

3. Spacious Yards: Especially if a home was bought back in time when land wasn’t as costly as now they are likely to have a spacious backyard enough for the kids to play around, pets to romp about or an additional garage or a storage room for gardening equipment.

Some of the Disadvantages of a Lived in Home are:

1. Ongoing Maintenance: One never knows the real reason the previous occupants or homeowners left. It could be due to the high cost of maintaining the building regarding repairs or the damage that may have happened with the passing of time and the out-going owners decide to pass on the burden to the new buyers.

2. Repairs and Maintenance: Faulty water pipes, an old and outdated water heating system in the house, leaking rooftops are some of the repairs that one might have to deal with in repairing a lived in the home.

3. Poor Design of the House: It could be highly likely that the designer or the contractor did a poor job on the house when it was originally built. The doors are maybe turning in the wrong direction, poor quality of doors and roofing materials causing leakage in the house and destroying items such as foodstuffs and clothes.

One of the advantages of buying a new home, one gets to choose their design of the floor plan and the layout. A warranty comes with the house over an agreed time in case it does not meet the standards set by the sellers one can be compensated. Furthermore installation of modern equipment such as air conditioning and water heating system that is energy saving, friendly to the environment and cost effective.

Vendors are sometimes willing to negotiate on prices because they don’t want a particular design of a building to stay for too long in the market before purchasing as it will lose its popularity and will soon be outdated once other designs that are more attractive hit the market.

Home developers have less incentive to negotiate on new homes when they are aware of the high demand for homes in the market and that the prices are more likely to appreciate over time as the value of the property goes higher.

There is very high-profit potential in renovating old homes; one gets the homes at a very low price if it is dilapidated. Once skilfully renovated the home can be put back on the market potentially at or near the same price of a new home that is sold in the market.
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