Having inspected over 20,000 properties in the greater Los Angeles area over 20+ years, our inspectors have certainly seen just about everything and can honestly say there is no such thing as a perfect property, regardless of age.
Let’s look at some pros and cons of brand new construction vs. older properties.
NEW CONSTRUCTION:
Pros:
- Builder will be required to adhere to current codes and standards
- Construction most likely will have been permitted
- Appliances, roofs, heating and air systems, etc. should be brand new and still under warranty so they should last many years if maintained
- Structures usually have a one-year warranty from builders. California Code of Civil Procedure sections 337.1 and 337.15 allows claims of latent defects to be filed within 10 years of construction*
- Since most new communities are usually built farther away from bigger cities, the schools are often rated higher and the air quality is generally cleaner
- The farther you get away from the city, the less expensive the property
- Compared to just a few decades ago, some builders are incorporating more character and craftsmanship into their work
Cons:
- The building may be new from the ground up, but an old sewer line could remain with its original materials
- In some cases, craftsmanship, detail, and character may be sacrificed to keep property affordable
- A large enough spread of land to build a new community is often found farther from the main city which may add to driving time
* This article is not meant to provide legal advice. Always consult an attorney to evaluate your specific situation.
OLDER BUILDINGS:
Pros:
- Some older structures with crawl spaces allow for easier repairs and upgrades
- Materials used on some older structures were higher quality and, if maintained, will last longer
- Older structures built in the 1950s or earlier often have more character and craftsmanship
- An old fixer can be more affordable than a brand new home
Cons:
- Licensed professionals may not have been used for repairs or upgrades and/or short-cuts made on materials and labor, or the contractor didn’t get permits
- Cosmetic repairs/upgrades can give the property the illusion of being in good condition, but in reality, the systems may have been poorly maintained and are in need of repair
- Regardless of cosmetic issues, at least some of the systems are often older and in need of repairs or upgrades
- Some codes and regulations are grandfathered into older building requirements (a pro for sellers but a con for buyers)
- In general, the majority of older buildings are closer to the city (as opposed to rural) and, therefore, more expensive
We hope this helps your clients prioritize their home or company purchase!
Sincerely,
Your Alliance Team