For people who are looking to buy their first home, it does indeed make sense to look for a newer property, or even a new build house, as you can pretty much guarantee that everything will be in good working order. If there is a problem, your warranty for the new build will, of course, cover the replacement or repairs.
However, there are some wonderful advantages to purchasing an older property so, with this in mind, continue reading about some of the most impressive benefits.
Older Properties Are Usually in Prime Locations
Not only are larger buildings usually in more desirable locations as, quite often, they were the first estates to be built outside a large town or city, but they are also likely to have an overall larger floor space.
When looking for a property, regardless of the age, of your next home, the leading factors to consider and the top questions to ask when buying an older home consist of the following:
- The appearance, available amenities, and accessibility options of the neighborhood
- The number of repairs the home needs and the appropriate planning permission
- The view from the top floor of the property at the front and the back
- The pre-arranged future building works and plans
Older Properties Are Usually Cheaper
Now, this is not an entirely hard and fast rule, but usually, you will get more value for your money when buying an older home, whether the property needs repairs either now or in the future, or not.
According to a 2020 study, it costs around fourteen percent more to invest in a new-build property over an older home and of course, it is possible to find an older building which does not require any maintenance whatsoever.
Older Properties Can Be Your Forever Home
If you are the type of person who dreams of a ‘forever home’, in which you and your family can live and grow, both together and as individuals, then an older property is the way forward.
As with anything worth it's salt in life, things take time to build and to grow and if you are committed to the older property you have found, you do not need to rush when it comes to envisioning what your forever home will be in the future. Enjoy planning the redecoration or even redesign of each room at a time and put your heart and soul into making the property your dream home.
Older Properties Tend to Have More Storage
Even though this last point seems a little less important, especially if you are moving from a large house into your new property, storage is much more of an issue than you may initially believe.
It is guaranteed that any older property you are viewing, whether it is a terraced, semi-detached, or detached house, will have considerably more storage options and often much larger storage space than new builds.
Furthermore, even if you find that there is not quite enough space for storage at the moment, an older property will have many more nooks and crannies you can knock down to produce a huge storage closet.