Why Consider an Older, More Established Home?

When you want to purchase a new home, you may be drawn to new construction sites promising the most recent, most beautiful home for a reasonable price. Before you buy a potential “cookie-cutter” home, consider older, more established homes. 

Why Older Homes?

Older homes do not have to be historically registered. These homes can be any home that has been around for about twenty years or more. Sometimes, these homes are worth investing in because they have withstood the test of time and offer additional benefits like the ones listed below.

Cost Savings

Older homes are often more affordable than new constructions. You can take advantage of a prime location for less money than you’d spend on a modern, updated home. A comparably sized new construction usually sells for 10 to 20 percent more than older, updated homes. 

Established Locations

Older homes are often in well-established neighborhoods with mature trees, parks, and community amenities. These locations offer a sense of history and community that newer developments might need to improve. The zoning laws are established but usually are more flexible than the HOA of newly constructed homes.

Character and Charm of Older Homes

Older homes often have unique architectural features, trimwork, moldings, and other details that make them look more attractive than newer ones. An older home’s charm and character can appeal to many buyers.

Larger Lots

Newer homes tend to be on small plots of land. If you value outdoor space or gardening, an older home might provide more room for landscaping or outdoor activities. Your ownership of a large lot also fosters a healthy ecosystem in your area. There is power in numbers. Selling land to large corporations always comes at a cost to the environment around it. Your ownership of a large lot helps preserve our beautiful Earth’s local ecosystems.

The Complications

While you may want to “live the dream,” knowing the complicated side of owning an older home is vital. Be aware of potential issues when buying an older home.

Foundation Problems

The foundation’s condition is critical because it affects the entire house. Signs of foundational issues include cracked drywall, hard-to-close doors/windows, uneven floors, and water damage. Hiring a professional for foundation repair is recommended.

Roofing

Historic roofing styles in older homes can be charming but may require costly repairs. Even older homes that don’t quite make the historic mark can withstand the years’ wear and tear. Signs of potential roof damage include broken or missing flashing, leaks, missing tiles or shingles, rot, mold, or sagging.

Home Inspection

Remember that a professional inspection is crucial before purchasing an older home to identify hidden issues and assess its overall condition. If you have already closed on an older home, consider a Foundation repair company like Atlantic Foundation to inspect your home’s structure. We offer free consultations for homeowners. Speak with your local real estate agent to make sure you pick the right home.