Aside from the choosing between renting and owning a house, you would likewise be faced with a question on whether to have an old house or new one upon purchase. There are many things to consider in choosing a house, especially between an old one and a new one. In the following article of Marcie Geffner she highlighted some consideration to be made between the two options at hand:
Should you buy an old or new home?
Most homebuyers naturally focus on the price and location of the home they want to purchase. But the home's condition, which is partially a function of its age, should also be an important consideration. More...
In considering the choice of house, whether old or new, beyond the price, components or materials being used should likewise be checked. Aside from that, the old ones should be evaluated in line with the possible expenses for the repair and upgrades.
Aside from the price and materials concerns, if you are wanting to buy a house either for rehab or future sales, you should also consider some extra cost according to Canadian Money Saver:
OLD OR NEW HOME - WHICH OFFERS MORE VALUE?
According to Collins, in an older home costs can be significant. They include ongoing maintenance, window and roof replacement, and updating insulation and the electrical system.
"Depending on the area, you may have a limited resale market because people are wary of extra costs. Before you sell, you may also have to upgrade certain systems, including water management and septic systems to conform to the current building code. Some municipalities and financial institutions are beginning to require these upgrades now. Source...
The idea of choosing a new house or either an old one is really up to the purpose and budget of an individual. The technicalities are just mere guides for purchasing, for in the very end of it the purpose would still prevail.