There really isn't a solid definitive answer to this question. Buying old rather than new or "vice verse" may be simply a matter of preference for some, but there is something to be said about the benefits and drawbacks of both. You should look at each home to see how it suits your needs, and for its characteristics. Generally speaking, older homes may be in more established neighborhoods, offer more ambiance, and will usually have lower property tax rates. If you decide to purchase an older home, however, you shouldn't mind maintaining the home and making some repairs. Newer homes will most likely have newer systems, and may be more energy-efficient. People who buy new homes often don't want to worry initially about upkeep and repairs
So, is it wiser for you to buy an older home than a newer one? The decision is yours..
OLDER HOMES:
Benefits: Lower taxes, charming interior, character, most often in established neighborhoods, mature plantings
Drawbacks: Mechanicals, Plumbing and Electrical may need to be updated. Roofing, windows and siding may need replacement if not newly rehabbed
NEWER HOMES
Benefits: Components are newer, last longer and may need less initial maintenance. More energy efficient. Larger rooms on average. Floor plans are tailored for today's living style. Stricter Building codes on construction
Drawbacks: Taxes are higher on newer homes . Things still break! The house has not had time to "settle" in its foundation.
Some of the materials may not be of the same quality and still pass Building Codes. May be in a lesser established neighborhood.
Although I cannot speak for other parts of the country, I can speak of southwestern Fairfield County, Connecticut and the roughly 30,000+ homes that I have reasonably estimated to have previewed or shown throughout my career. There seems to be a pattern in the construction quality in certain years/ decades- and I am not saying that any house built in the more favorable decades is that much better, or saying that any home built n the other decades is a money pit. or of poor quality. It's a general statement, and each home has to be evaluated on its own merits.
My picks for the most solid construction going back 100 or so years would be the 1920's through 1959, 1995-2005. and 2008+.
Least favorite years for quality and workmanship: 1900-1910, 1960-1980 and 1985-1990
If you see a home that you like and it's happens to be in the least favorite category of mine, it DOES NOT mean that you shouldn't buy it. Not all homes built in those time frames are going to be poor quality. Likewise, not all homes built in the more favorable years are going to be of the best quality either. When you work with me as your agent, I will tell you if I have a concern about ANYTHING- my past clients will tell you that they always knew that about my services, too. I only want the best for my clients- and that includes you, whenever you are ready! :)