There is a seemingly endless array of decisions to make when purchasing a home. Where do I want to live? How much home can I afford? What amenities and features do I want in my home?

Another important question that many buyers face is: do I want to purchase a new home or an existing home?

The answer to this question may be a bit tricky, as there are a number of pros and cons to purchasing both a new home and an existing home. Here are some factors to consider when making your decision between new and old:

Workmanship and Craftsmanship – Many home buyers gravitate towards older homes because, often times, there is more attention paid to craftsmanship in older homes. Although this is often the case, many of the newer homes also have beautiful features that are reminiscent of older homes.

Updates and Energy Efficiency – Most new home builders of today are committed to energy efficiency and, as a result, incorporate many environmentally sensitive building products into their homes. However, it is also important to note that many homeowners of pre-existing homes also update their homes with newer windows, doors, insulation and appliances, all of which are focused on energy efficiency.

Amenities and Conveniences – Many new homes boast such great features and conveniences as master suites, gourmet kitchens and fantastic outdoor living spaces. However, many older homes have these same features and amenities, thanks to homeowners who are committed to keeping their homes up to date.

Natural Surroundings – Many home buyers tend to look at existing homes because they offer mature landscaping and large trees. Established home communities often have more character and ambience because of the mature, natural surroundings.

Appreciation – Newer homes, in general, appreciate in value much faster than existing homes; however, the appreciation of a home ultimately depends on its features, amenities and, most of all, location.