While buying a new house may be a dream for many of us, it also isn’t all it’s cracked up to be. Some people may think it’s easier to own a new house, but there are many reasons why it’s beneficial to purchase an older home.
1. They have more character
Older homes have a certain character that you can’t find in newer cookie-cutter models. This kind of charm can come in the form of a creaky wooden staircase, original stained-glass windows or a charming original fireplace. These are features that no builder will ever be able to install.
2. They’re less expensive
Since older homes tend to be less desirable to potential buyers, you’re likely to find one for a cheaper price. Plus, they are typically larger and have bigger backyards than newer homes, so if square footage is important to you, an older home might provide you with more bang for your buck.
3. They’re better quality
The reality is that homes are just not built the way they used to be. Older homes were typically made with high-quality materials such as thicker walls, doors made from solid wood and stronger hardware.
4. They’re more accessible
Older homes are typically built in more urban neighborhoods which are located within walking distance of grocery stores, community centers and restaurants. Older homes also tend to be located along more bus routes which could also save you money on transportation in the long run.
5. They’re in established neighborhoods
Older homes are located in more established neighborhoods, which means they also have large, mature trees, grass-covered yards, parks and more. Moving into an older home may cause you to feel a sense of taking part in history and may cause you to meet neighbors who are still the original owners of their homes---50 years later!
6. It’s a long-term investment
Older homes are becoming fewer and far between. As older houses get torn down, supply decreases despite demand remaining high. The value of an older home will likely increase faster than that of a newer home.
7. You can renovate to add equity
8. It’ll have a more unique façade
9. You know exactly what you’re getting
Unlike a new home which still has to be built, you have the advantage of being able to tour an older home before you buy it rather than trying to picture what it’ll look and feel like based on a set of blueprints.
10. There are fewer move-in costs
There are generally fewer move-in costs associated with buying an older house because features like drapery tracks and window coverings are already installed. Sometimes special lighting fixtures and appliances are also included with the sale of an older home.