There are numerous advantages to buying a newly built townhouse over a condo or an older house- increased space. Lower maintenance fees and a blank slate to shape into your ideal home are just some of the reasons why you may want to consider it.
Many new townhomes equipped for modern needs are being built in neighbourhoods that were designed specifically to accommodate an increasing population. The only major drawback for many interested parties happens to be the higher price tag. If you are drawn to the idea of a buying a new townhouse but can’t afford one in a new area, consider buying one in an old neighbourhood. You can contact a real estate agent or access real estate sites like DDProperty for new townhomes being built in older locations instead.
They are already revitalizing many run down areas and providing more buyers with the opportunity to buy their dream house. Here are just some of the advantages of buying a new townhome in an older neighbourhood:
1. Less Construction and Noise
Newly developed neighbourhoods are attractive and convenient, but many of them are still in the development stages and will likely have excessive noise and construction vehicles moving around for years to come, which often result in a slew of complaints from those who have spent a lot of money on their dream house.
By moving into an established area, the construction on your house will already be done and you can move in without having to worry about a sea of cranes, a new complex blocking your view, or endless drilling noise.
2. Existing Utilities
Installing electricity, gas, water, an internet connection, and other utilities is one of the largest financial costs of new builds and can take a lot of time. In an established location, all of these will have already been set up by reliable service providers, meaning you will likely spend less time waiting before your house is ready.
You can also opt to install newer, more energy efficient features such as solar panels or energy efficient windows, which NewHomeSource lists as a top advantage for a brand new house. These are things that the older structures surrounding you might not be equipped with and could cost too much money to upgrade. These features will likely lessen your energy bills as well.
3. Community
Communities do grow in new condos over time but by moving into an older neighbourhood, there will already be an established community that you can join and local activities that you can become involved with straight away. This not only means having neighbours to socialize with and a greater sense of security but also people you can talk to and ask questions about the area. The best local restaurants or the most reliable electrician are just a few examples. It is much easier to integrate into an established community to form a social circle than it is to start one from scratch.
If you are planning on starting a business or are looking for work, you will also have an established community of potential customers or a pool of available jobs that you might not otherwise have available to you in a new development.
4. More Space
In general, new construction projects have a much smaller square footage per unit than older homes, in order to fit more people in.
A report by The Wall Street Journal has found that the average size of suburban lots in the US has shrunk by 12 percent since 1992. Similar trends are being seen throughout Asia (particularly in Japan and Hong Kong where available land is decreasing) and with increasing amounts of expats, a higher population, and shrinking family sizes, Thailand could be next. Even if this does occur, new builds in old neighbourhoods use the space they already have, so you will likely get a somewhat larger space which is a better value for money per square foot.
5. Transport
New builds are frequently built to accommodate for the ease of local transport links or proximity to main roads. New neighbourhoods also have updated public transport facilities included in their plans. They can, however, still experience teething problems or construction delays which can cause havoc for commuters. Ongoing construction of new buildings can also disrupt travel even further.
Again, a townhouse in an area with an established transport infrastructure and fewer traffic delays can solve a lot of these problems, and perhaps work out to be more affordable.
Buying a new home in an older area really allows you to feel and enjoy the benefits of both. You have the potential and lower maintenance costs of a brand new home while still enjoying the character and community and taking advantage of the services of an old neighbourhood. They are somewhat harder to find but keep looking through the property sites or asking your real estate agent and you can find an ideal new townhome in the perfect community.
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