You have been scouring the streets with your agent. You checked 10 or 20 apartment and still cannot make up your mind. You want a specific location, but the apartment has to be new. Or you love the charm of old architecture, but the building is not on the right street. Some people prefer old buildings some new. Let`s check out all the pros and cons of old vs. new.
Some things cannot be recreated. Well, maybe you can, but it will never be the same. It is the same with old buildings. The style, the charm, the appeal, the esthetics… All of these factors contribute when people have to decide. Old buildings usually have high ceilings, grand entrances, and central locations, but they also have old plumbing and electrical systems, worn out floors and bathrooms and inefficient insulation and windows. But, when you walk out of your building, you might find yourself on the main square, right next to the all the important sights of your city.
The thing with new is that it`s… well, new. You get modern technology, modern materials, and design, energy efficient buildings, and warranties. However, these will usually be at remote or less than attractive locations, outside of the city core where land is cheaper. Also, most cities protect their historic centers and buildings, and they do not allow these to be torn up and developed. It is why investors have to look for locations outside the protected zone.
In the end, it comes down to personal preference. If you prefer to live in a charming old building, make sure you will have to spend quite a lot of money on redecoration and maintenance. On the other hangd, if you prefer new and you do not want to lose time and money on refurbishment, look for a new building.