Property buyers usually fall into two categories: those who are only interested in older, period properties that are brimming with character and those who prefer newer, low maintenance homes. If you’re struggling to decide which kind you would prefer, check out the pros and cons of each below so you can make the best decision for your lifestyle.
When purchasing a new build, you’ll get a peace of mind due to its newer features, such as freshly plastered walls, double glazing and a warranty. Newer builds also benefit from improved safety standards; rooms that are over a certain size are lawfully required to have windows that open and are big enough to fit through, in the event of a fire – something that isn’t common in period homes. The buying process for newer homes is also much simpler, and they’re also beneficial for first time buyers due to Help to Buy being available on many of them.
New builds also benefit from retaining its value longer than older homes, due to its direct links to other buildings within the development, which can also rise in price as they get sold.
Newer homes suffer from a lack of authentic character and usually aren’t as spacious as older homes. Whilst an entire development can be built in just a few months, they can often remind people of council estates where everyone resides in the same style home.
Also, although new homes do retain their value, it can be difficult to sell them on. This is especially important if the property is located on a new development which is still offering homes for sale, as your second-hand home will be in competition with them.
If space is important to you, older properties can usually offer more floor space than newer ones. As smaller new builds pop up throughout the market, more and more people are opting for more room. If you are one of these individuals, a Georgian town house or Victorian terrace may be the better option for you.
Older homes have also benefited from receiving the golden touch; these were often built by top notch craftsmen who had a real attention to detail. These properties have endured plenty over the years and are still standing tall, proving them to be well-built and reliable, something not guaranteed with newer properties.
An obvious and perhaps the most important con for older houses is that they usually require a lot more upkeep than newer homes. If you are just looking for a somewhere to live life, this is certainly something to consider. Older properties can also be more challenging to keep warm due to the building industry’s lackadaisical approach in the past. Therefore, those on a tight budget may not find a period home suitable, due to their expensive upkeep.
Period homes can be beautiful to look at, but if the property needs fixes, the right handymen will need to be consulted and this can quickly add up.
Have you made your mind up on which you prefer? Let us know on Twitter @haart_uk!