Location. Typically, old homes sit on larger plots of land in or near town--many were built when there were only a couple streets through town. The neighborhoods are established and sometimes more central to schools and shopping. Mature trees and plantings provide shade and beautify the property and neighborhood streets. New homes are generally found in new developments in suburbs and homeowners who buy into an early phase can expect to contend with dust and construction sights and sounds as the remaining phases are being built. Landscaping may be skimpy or nonexistent, but a buyer has the opportunity to design the décor from scratch.

Layout. New homes tend to have a more open, spacious and functional layout with family kitchens, walk-in closets, and family rooms.  Older homes were designed for a more formal lifestyle, which is reflected in the entry hall, formal dining and living areas and many cozy rooms, including small bedrooms, and bathrooms. 

Energy efficiency. Those beautiful eight-over-eight single pane wood windows with the "wavy" glass add character to an old home, but they're not as energy efficient as modern windows. While most old homes lacked insulation in outside walls and attics, (though those plaster walls are certainly great sound barriers) homes built today insulate against high heating and cooling costs--although the bigger windows, vaulted ceilings and larger rooms common in new homes can also also cause high utility bills.

 Maintenance.  With older homes, upkeep could be more expensive, with some out of date items needing to be replaced. A turn of the century home may have outdated wiring, and even a more recently built home may have an inadequate fuse box-style panel that falls short of the energy demands of 21^st century families.  New homes generally come with warranties that will cover the cost for most major problems.   When it comes to quality of construction, some older homes may surpass newer homes--a home that has been around for 50-100+ years and is still around must have been put together rather well. 

Price.  Older homes are usually less expensive per square foot.  In addition, the tax structure is more predictable because the neighborhood is already established with amenities that newer neighborhoods are still in the process of gaining, such as schools, police and fire services, and infrastructures (roads, sidewalks, etc.). However, with restoration costs a possibility for older homes, your dollars may very well be spent on the back-end rather than upfront.

            If the charm and beauty of an old home wins your heart, use a realtor who is familiar with historic homes and neighborhoods.  She'll help you find an inspector familiar with older homes who knows what to look for to help you avoid buying a "money pit".   Though you may have slightly higher maintenance costs, you will own a home with character, history and a charm that you just won't find in many newly constructed homes....so go sit out on your big front porch and enjoy the view!