Older houses are more popular than ever on the market nowadays, and we have the rustic, “shabby chic” trend to thank for that!
Old fireplaces, wooden beams and historical features were once thought of as an outdated concept, and yet now they’ve come back to the forefront of the interior and exterior design trends in the industry. What goes around, certainly seems to come back around!
But is it really a good idea to buy an old property simply for the aesthetic of it, or are you likely to wind up with more problems than it’s worth?
Today we’re going to be exploring the pros and cons of buying older properties.
The Positives to Buying Older Houses
As always, we’ll start with the positive side to buying older properties.
They Tend to be Built in Prime Locations
The great thing about older houses, is because they were built before many of the other structures in villages and towns, they tend to be in a prime location.
They didn’t have to fight with shops and other amenities for their place of building, as they were there first.
This puts them in an ideal location for many, being a short walk from said shops, schools, and any other centre of town places you can think of. Ideal if you want to be near the action!
It May Cost Less
Generally speaking, when it comes to purchasing older properties, you tend to get more for your monies worth.
It all depends on the size of the property as well as its’ location, of course, but a newer house in the same area would be likely to cost a lot more.
One of the negatives to new build properties is that their rooms are usually smaller. It’s the opposite with older houses, with their rooms tending to be far more spacious.
Their Availability is Better
Whereas you quite often have to wait for newer houses to quite literally be built before moving in, and this can result in delays, you won’t come across this issue in older houses.
Furthermore, you even have more of a chance of them coming partially furnished. Say you really love some of the original features of the property, or certain furnishings that the current owner has added. You may be able to negotiate a price in order to keep these when buying the property.
They’re a Long Term Investment
Finally, in our list of positives, it’s worth acknowledging that older houses are in short supply in comparison to their newer counterparts. This makes them a good, and usually healthy, long term investment.
Whereas new builds are easy to find by the dozen, older properties, especially those with history, are few and far between. They can never be recreated, and therefore this is why they keep their value far better than newer properties.
Sure, they can build copies, but investing in the original is no bad idea.
Benefits of Historical Architecture
Older properties often boast unique architectural features that are hard to find in modern builds. These houses may include intricate woodwork, stained glass windows, and ornate fireplaces, which reflect the craftsmanship of a bygone era. Such features not only add aesthetic value but also serve as conversation starters, making your home truly one-of-a-kind. The preservation of these elements maintains the character of the property while offering a glimpse into historical design practices.
The Negatives to Buying Older Houses
Of course, as all things that come with positives, there are negatives to buying older properties too.
There are Far More Likely to be Maintenance Issues
It’ll come as no surprise that with older properties, you run the risk of there being far more maintenance issues than you would with a brand new house.
It’s likely that the older the house, the more likely it is to have outdated heating systems, and inefficient plumbing. Not only can this make your life less convenient, but it can also lead to more expensive utilities such as energy and electricity bills. You may even consider investing in having newer systems installed.
Challenges of Modernizing Older Homes
Modernizing older homes can present challenges, especially when aiming to meet energy efficiency standards. Many older houses lack proper insulation, which can result in higher heating costs. Improving these elements often requires investment in contemporary insulation methods while respecting the building’s original structure. Upgrading infrastructure to support modern technology, such as smart home systems, also presents logistical hurdles, highlighting the need for structural assessments before undertaking significant renovations.
They’re Likely to Have Less Storage
Another one of the cons of buying older properties, is that they tend to come with less storage space than their newer counterparts.
This is because in the modern day, we own more items than ever before, for example, clothes. Older built in closets are likely to be too small for the needs of the average modern day person.
Local Regulations and Historical Preservation
Purchasing older properties may involve navigating local regulations regarding historical preservation. Certain areas enforce strict guidelines on renovating heritage properties, which could entail obtaining specific permits. Collaborating with local preservation societies helps ensure that any modifications maintain the architectural integrity of the building. Understanding these regulations not only aids in complying with legal standards but also in preserving the historical value of the home.
Surrounding Issues
Last of all, but by no means least, older houses can come with surrounding issues. One of the most common of these, is trees, believe it or not.
Old trees with deep roots can grow inwards towards the foundations of older houses. This can cause structural issues, as well as negatively effecting systems such as plumbing and heating.
We recommend being thorough in your survey if you’re thinking of buying an older house.
