Ottawa is rapidly growing into a big city with many suburban areas exploding in size. But there are many people who continue to see the value of living in the denser urban neighbourhoods such as the Golden Triangle, Old Ottawa South and the Glebe. These urban neighbourhoods offer many advantages over the suburbs including being close to downtown entertainment and restaurants, mature trees and vegetation and long-term neighbours who know each other making for a close-knit community. Residents can also walk to local coffeehouses, shops and schools and they are often close to mass transit.

Buyers looking at inner-city homes in these desirable neighbourhoods of Ottawa are starting to have more choices in the type of construction available. Some homes are older fixer-uppers, others are from an older vintage but have had significant renovations, and still others will be new construction.

There are upsides and downsides to consider when trying to determine whether you should buy a new home or an older home. Here are some things to think about when deciding what type of home will suit your family best:

Upsides to Buying an Older Home

• These homes have been around for decades – even centuries – and weathered many storms. Buyers can have confidence in their solid construction.
• Many older homes will come with a larger yard.
• Old homes have more character. The Victorians, Tudors or Colonials have many interesting architectural features including thick mouldings, arches, stained-glass or leaded windows and original plaster ceilings.

Downsides to Buying an Older Home

• More maintenance. Things will go wrong periodically and it seems there is always something to fix such as chimneys, roof and foundations that need tuckpointing.
• Renovations can be more costly. Major renos may require replacing wiring or plumbing and finding details that complement the character of the home – such as mouldings and light fixtures – can be expensive and require some research.
• Old sewer pipes can sometimes be broken up by tree roots.
• Certain electronics require grounded wiring so knob and tube wiring would need to be replaced. Also, it may be more difficult to get home insurance for a house that has knob and tube wiring.
• Smaller closets and garages and overall, less storage spaces.
• No open concept layout and bedrooms are often much smaller than in newer homes.

A real estate pro will know the reputation of builders in their area.

Upsides to Buying a New Home

• Little maintenance, so home owners are not likely to replace windows or a roof in the near future.
• Modern amenities which include standard items like built-in dishwashers, master suite bathrooms and updated wiring.
• A Tarion warranty comes with new homes so buyers can have builder fix many defects even after taking possession.
• Energy efficient due to newer appliances, dual pane windows and insulated walls, floors and ceilings.
• Built to code so safety issues are addressed and any future upgrades are easier and less expensive to make.
• It feels good to own something brand new which has never been used by anyone.
• Greater square footage on average with more usable storage space.

Downsides to Buying a New Home

• Some homes have no individuality. Unless the house is a one-of-a-kind infill, it can look a lot like the other newly built homes on the street.
• New houses are often attached to their neighbours because builders try to maximize the number of dwellings that are built on a parcel of land.
• New houses settle so buyers may discover cracks or nail pops all over the house after living in it for a few months. These small issues may or may not require fixing and they are not covered by the home warranty.
• Immature landscaping. While the neighbour’s garden is blooming, owners of new homes may by looking at a yard full of dirt.
• More expensive on average than older homes because buyers are paying for the convenience of not having to do any upgrades or immediate maintenance.

Buyers may have different reasons for choosing an older or a new home. Each type of construction will have advantages and disadvantages and it’s important to consider the impact of these on you and your family. Your Realtor can help you with your decision and your home search. They should know such things as the value of homes – new and old – in specific neighbourhoods, the reputation of the builders in the area and have a list of professionals they can refer including home inspectors, reputable renovators, landscapers, etc.

If you are looking to buy a home, or are thinking of selling yours, I would be glad to represent you and help you negotiate the best deal. Please contact me at steve@stevewalsh.ca.

Image courtesy of Poulsen Photo / FreeDigitalPhotos.net