Many first time home buyers think of the age of a home like a time bomb. With age comes costly repairs and renovations that are often avoided (or at least prolonged) if you buy a newer home. While it is true that older homes are prone to needing more upgrades, they also have many advantages over newer homes.
What you don't often hear is that if an old home is maintained properly, it can be as good if not better than living in a newly built one. Old homes often come with perks that are forgotten or ignored in the buying process. In this article, we'll go over some of the best reasons to own an old home, and some of the things to look for when house hunting.
1. With age comes wisdom
Old homes are filled with history. From the people who built and lived in the home, down to the tiny architectural details, these houses will shed light upon what life was once like in your neighborhood. For those eager to learn about the history and culture of their neighborhood, it has never been easier to access historical data from internet archives or your local library.
Aside from being historically significant, old homes are also aesthetically interesting. Depending on the architectural style and location of your home, it could have been built using any number of materials and techniques. Today, mass production has made home-building much more streamlined and efficient. Unfortunately, that has come at the cost of some originality in style.
In many instances, old homes are cheaper to buy than new ones. One reason is that sellers assume that buyers will have to pour money into the home to keep it updated and adjust the asking price. Another is simply that your average homebuyer values new homes over old ones. If you enjoy older homes, that gives you a financial advantage.
For those homebuyers interested in do-it-yourself repairs and upgrades, buying a "fixer upper" is a great way to save money. However, be aware that some repairs should be better left to the professionals, especially when dealing with hazardous materials like lead paint and asbestos.
America is a young country. So the oldest homes tend to be built in centralized and urban areas. That often means easy access to things like grocery stores, schools and highways.
Aside from being convenient, old neighborhoods also tend to have developed communities and landscapes. The streets are probably lined with aged trees that provide plenty of shade, and there's a greater likelihood of having nearby parks or ponds.
4. Prime land picks
Older homes tend to have the best plots of land because, well... they got the first pick. As a home buyer, this could be a huge if you're looking for a larger backyard or one with great natural features like aged trees and natural bodies of water.
When you're out hunting for new homes, don't look past the older homes. You might find that they have many benefits that are great for you and your family.