Video — Is A New Construction Home Always A Better Value Than An Older Home?

Deciding "older home or newer home" is a unique challenge for each buyer and place. Here are some general guidelines to think about.

Home Age and Neighborhood Age. More-established neighborhoods with a higher average home age develop their own ambiance over time. Is that what you want?

Property Tax Rates. An older home may have a lower tax rate; make sure to ask and compare.

Maintenance. Homes require maintenance as they age, but you should assess what has already been done on an older home case-by-case.

Energy efficiency is also a key concern; building standards have improved efficiency standards over time, so you may find newer homes to score higher on this key cost.

Consider what you want to spend time on, and what you enjoy as well.