Old House? New House? Weighing Your Options

Maybe it has something to do with a childhood home we fondly remember. Many of us long for old homes built with solid construction, quality craftsmanship and beautiful details. We wax poetic and wistfully recall the hand carvings, plaster walls and eyebrow dormers of homes we've known. On the other hand, how do the old homes we admire compare with newly minted models-and what should we consider before deciding which to buy?

Location. Typically, old homes sit on generous plots of land in or near town. 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 décor from scratch.

Layout. 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 A turn of the century home may have outdated knob-and-tube wiring, and even a recently built home may have an inadequate fuse box-style panel that falls short of the energy demands of 21st century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 wins your heart, 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 the all-clear, 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 have the answer.

Neda Dabestani-Ryba is a licensed Realtor in Maryland. She is a member of the President's Circle of Top Real Estate Professionals. She can be reached at (800) 536-3806 or visit her website for more information: http://neda.dabestani.pcragent.com/ Prudential Carruthers REALTORS is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity

Meet the real estate broker’s interns: an ambitious group willing to do anything, earn nothing and wake up early on a Sunday to fluff the couch cushions at open houses.

In Manhattan, parking lots and garages are making way for all sorts of development, especially luxury condominiums.

Gray Burton lives in a 250-square-foot space he furnished with antiques he’s been collecting for years.

MacKenzie Thompson’s plan to buy a multifamily house in foreclosure did not pan out. She decided to buy a home in Westchester County.

A photogenic Westchester suburb with high-profile residents is also known for its art museum and a performing arts center.

A Ditmas Park co-op, Upper East Side co-op and an Upper West Side condo.

A 10-year-old house with six bedrooms in Montvale, N.J., and a renovated four-bedroom in Bronxville, N.Y.

Wealthy investors are wiring millions of dollars to New York to snatch up a piece of 157 West 57th Street - what will be New York City's tallest residential building, with 90 floors overlooking Central Park.

An apartment at the Trump International Hotel and Tower, opposite Central Park, was bought anonymously through a limited liability company.

The anchor of a proposed historic district will surely be a clutch of four mansions at Riverside Drive and 72nd Street.

Success in challenging property taxes means not having to put as much money aside in the escrow account.

Taking responsibility for a roof leak; a bank loan for capital repairs; lender says no to co-op sublet; next time, don’t forget the key.

Summerview Square is a town-house-style apartment project going up in Norwalk after a previous developer walked away, leaving squalor in his wake.

A drop in prices and low interest rates means many buyers on the Island can afford to wait.

In Hudson County, developers are working on several projects that would add thousands of units in waterfront communities like Hoboken, Jersey City and Weehawken.

A development in Austin, Tex., is an ambitious attempt to upend the conventions of the American subdivision.

A town house in New Orleans, a penthouse in Baltimore and a ranch house in Washington.

Housing prices continue to fall nationwide, with Atlanta earning the distinction as the weakest performer.

The financial crunch has been felt in Aruba, but not severely enough to cause large numbers of foreclosures and short sales.

A new law that allows businesses in Philadelphia’s Market East district to draw revenue from large digital signs has drawn attention from developers.

With its concentration of pharmaceutical giants and academic powerhouses, the region could be a major center for life sciences businesses, developers say.

The president of the New York Building Congress, which represents professionals in the construction industry, has been running the nonprofit association since 1994.

A frenetic little industry has taken root in New York City based on finding and publicizing the once-and-future homes of just about anyone with name recognition.

The plan for a business improvement district in SoHo would help with the trash problem, but some residents don’t want to cede more ground to tourists and real estate titans.

A Ditmas Park co-op, Upper East Side co-op and an Upper West Side condo.

A 10-year-old house with six bedrooms in Montvale, N.J., and a renovated four-bedroom in Bronxville, N.Y.

Properties in New Orleans, Baltimore and Bellevue, Wash.

You want them, you need them, and these power tools will pay for themselves.

One man’s discovery of the vast powers of the drill.

An abandoned log house with a sinister air, the Smith Mansion in Wyoming is the stuff of legend.

Chris Hacker, the chief design officer at Johnson & Johnson, shops for hot water bottles that can come out from under the covers.

Should I remove the family photos hanging on my wall before listing my apartment?

An architect and an interior designer have created an online database of hazardous building materials.

The handmade house, doughty and particular, is being celebrated in three new books.

Beginning Friday, the NoLIta store Haus Interior will host Wood Shop, a pop-up store created by David Stark.

Compare the cost of renting and buying equivalent homes.