Is it Better to Rent in a Newer or Older Building?

As you search for your dream apartment, you’ll find that you have a choice - do you rent in a newer apartment building with all the modern conveniences or an older building with more character and charm? Newer buildings offer more amenities, energy efficiency, and fewer maintenance headaches, but they come with higher rent and smaller spaces. Older buildings provide more room, unique architectural details, and potentially lower costs, but you might deal with higher utility bills and occasional maintenance issues.

The truth is, there is no universal “better” choice between newer and older buildings. The right decision depends entirely on your lifestyle, budget, and priorities. This guide will help you to identify what is most important to you when finding a place to live.

What’s the Difference Between Newer and Older Buildings?

The main differences between newer and older rental buildings come down to construction standards, materials, and amenities. Generally, newer buildings are those constructed within the last 10-15 years, while older buildings include anything built before 2000, with the most noticeable differences appearing between pre-1980s construction and modern buildings.

Newer buildings benefit from updated building codes and modern construction methods, featuring:

• Energy-efficient windows and insulation
• Modern HVAC systems with individual unit control
• Enhanced fire safety and electrical systems
• Smart home technology integration
• Contemporary amenities like fitness centers and package concierge

On the flip side, older buildings have their own loyal fan club for good reason. These buildings, especially those from the pre-war and mid-century, offer different advantages, such as:

• Solid construction with thicker walls and higher ceilings
• Unique architectural details like crown molding and hardwood floors
• Larger room sizes and storage built-ins
• Established neighborhoods with mature landscaping
• Often lower rent due to fewer modern amenities

The choice ultimately depends on whether you prioritize modern convenience and efficiency or prefer character, space, and potentially lower costs.

What Are the Pros of Renting a Newer Building?

Newer buildings offer modern conveniences and efficiency that can make your daily life significantly easier. If you value the latest technology and worry-free living, these buildings might be your perfect match.

Modern amenities are the biggest draw of newer construction:

• In-unit laundry (good quarters and laundromat trips!)
• Smart home features like keyless entry and app-controlled thermostats
• Fitness centers and rooftop decks with city views
• Concierge services to help handle packages and security

Better energy efficiency means lower monthly bills thanks to:

• Double or triple-pane windows and modern insulation
• Energy-efficient appliances and LED lighting
• Smart HVAC systems that don’t work overtime.

In addition, fewer maintenance issues means fewer headaches. When everything is new, you’re less likely to deal with surprise plumbing emergencies, electrical problems, or appliances that quit at the worst moment. The peace of mind alone can be worth the extra cost.

What Are the Cons of Renting a Newer Building?

All those shiny amenities come with trade-offs that might make you think twice. Here’s what you should know before falling in love with that brand-new apartment.

Higher rent and fees are the biggest sticker shock:

• Monthly rent typically 20-60% higher than comparable older units
• Additional fees for amenities you may not even use
• Higher security deposits and application fees.

Smaller square footage also means less space for your money:

• Bedrooms that barely fit a queen bed and dresser
• Kitchens with limited counter and storage space
• Living areas designed for minimalist lifestyles

Less architectural character can make your home feel generic:

• Cookie-cutter layouts identical to every other unit
• Bland finishes chosen for cost, not character
• Thin walls that make you wonder your neighbor is doing over there

Possible construction noise in newly developed areas means cement mixers and power tools as your new alarm clock.

What Are the Pros of Renting an Older Building?

Older buildings are popular for good reason. If you value space, character, and a good deal, these vintage gems might be exactly what you’re looking for.

Larger living spaces and higher ceilings give you room to actually live:

• Spacious bedrooms with large closets
• Generous kitchens perfect for home cooks
• Living areas where you can easily entertain

Unique design and character add personality to your everyday life:

• Original hardwood floors and built-in reading nooks
• Crown molding, exposed brick, and architectural details
• Vintage fixtures and finely crafted materials

Other pros include that they are often in established neighborhoods within walking distance to local cafes, tree-lined streets, and better public transportation. They also might potentially be more affordable compared to newer buildings.

What Are the Cons of Renting an Older Building?

While older buildings have undeniable charm, they come with some challenges that can test even the most patient renters. Here’s what you might be signing up for.

Higher utility bills can quickly eat into those rent savings:

• Single-pane windows that let heat escape in winter and cool air out in summer
• Older heating systems that work harder and cost more to run
• Poor insulation causing uneven temperatures and discomfort

More frequent maintenance means dealing with the realities of aging infrastructure:

• Plumbing that decides to act up at the most inconvenient times
• Electrical systems that weren’t designed for today’s technology demands
• Appliances that may need regular repairs or replacement

Outdated amenities can feel like stepping back in time (and not in a good way):

• No in-unit laundry means trips to the basement
• Limited or shared parking that eats up your day
• Older kitchens and bathrooms with poor layouts

The trade-off for character and space often means accepting that some things just won’t work as smoothly as they would in a newer place.

Key Factors When Choosing a Newer vs Older Building

Choosing between a newer or older building often comes down to a few key factors that will influence your comfort, budget, and overall lifestyle.

Budget vs Amenities

Older buildings usually come with lower rent, but that often means giving up extras. Newer buildings, on the other hand, may cost more but offer conveniences like gyms or lounges. Think about whether you’d rather save money and create your own setup, or pay for the convenience of amenities you’ll realistically use.

Location Considerations

Sometimes location matters more than the age of the building. A charming older apartment in your dream neighborhood might be more appealing than a newer place that requires a long commute. If you work from home, the extra space and quiet of an older unit could outweigh the draw of a rooftop deck or sleek finishes.

Timeline & Maintenance

How long you plan to stay can change the equation. If you’re only renting for a year, potential maintenance issues in an older building may not be a deal-breaker. But if you’re planning to settle in for several years, the energy efficiency and reliability of newer construction could become much more valuable.

Financial Check

No matter what you choose, keep the 30% rule in mind: your rent should never exceed 30% of your gross monthly income. It’s a good financial checkpoint to help you decide, whether you fall in love with a high-rise or a historic brownstone.

Decision Tools

If you’re still torn, take Apartment List’s quiz for personalized recommendations based on your needs and preferences. Sometimes an outside perspective helps clarify what really matters most when you’re weighing your options.

Final Thoughts

At the end of the day, choosing between a newer or older building isn’t about finding the “right” answer - it’s about finding the right answer for you. Your choice depends entirely on your needs and values, and what you’re willing to trade off to get them.

Maybe you’re someone who values convenience above all else and doesn’t mind paying extra for the peace of mind that comes with modern amenities and fewer maintenance headaches. Or perhaps you’re drawn to the character and space of older buildings, and you’re happy to deal with the occasional quirks in exchange for more room and lower rent.

The perfect apartment isn’t the one with the most features or the lowest price - it’s the one that fits your lifestyle, budget, and priorities. Whether it’s a modern new apartment with a rooftop gym or a Victorian building with original hardwood floors and 12-foot ceilings, the best choice is the one that makes you excited to come home every day.

FAQs About Renting in Older vs. Newer Buildings

Are newer apartments better?

It depends on your priorities - newer apartments offer modern amenities and fewer maintenance issues, while older apartments typically provide more space and character at lower rent prices.

Are newer buildings built better?

Newer buildings are constructed with updated building codes and modern safety standards, but older buildings often feature solid construction with thicker walls and higher-quality craftsmanship.

Are newer buildings always more expensive to rent?

Yes, newer buildings typically cost 20-60% more in monthly rent than comparable older buildings, plus additional fees for amenities.

Is a newer or older building better for energy efficiency?

Newer buildings are significantly more energy-efficient due to modern insulation, windows, and HVAC systems, which can lower your monthly utility bills.

Do older buildings have more space?

Generally yes - older buildings typically offer larger rooms, higher ceilings, and more overall square footage compared to newer constructions that prioritize efficiency over spaciousness.