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Buying a house is an incredibly daunting prospect and one that you might feel as though you’re never fully ready for – especially if you’re a first-time buyer or you’re helping someone with the process.
And one of the key decisions that you’ll have to make (after determining your budget) is the type of property that you want. Do you want an older property? Or are you swaying towards a new build?
Before making your final decision, there are a handful of considerations that you should take into account first – including where you want to live, how much work you want to do to the property, what amenities you want nearby etc.
These will help to shape the type of house that you’re looking for and will assist with the compare and contrast process. However, if you’re still unsure as to whether you should opt for an older or newer property, here are some pros and cons of each option:
An Older Property
Let’s start with the pros:
There Are Plenty to Choose From
In this country, you won’t be stuck for choice when it comes to listed and period properties. Available across the country, you’re bound to find the right home for you no matter what your taste. Whether you like the Tudor style or are looking for a Grade Listed gem, the choices are endless.
They Are Full of Charm
Do you love a quirky house? Then look no further than a period property. Filled to the brim with various features that you won’t find in a new build, the charm is unlimited. Perfect as they are or enhanced with your magical touch, everyone will complement the extraordinary design of your new home when they come to visit.
They are Full of History
Wouldn’t you love to have a house that has a fascinating story? Well, you can have exactly that when you opt for an older property. Unlike a new house with little character and history, you can discover the incredible story of those who previously lived in your home and what it has looked like over the years.
Now onto the cons:
They Can Be Expensive to Maintain
Unfortunately, older properties tend to be very expensive to maintain. Whether you need to undertake Roof Conservation or another type of work on it throughout the years you’ll have to have deep pockets. It’s also very time consuming – a frustration that will cause potential homeowners to think twice before buying.
They Come with Outdated Electrics
Another thing to consider with older properties is that they might have outdated electrical or heating systems. Although many older houses have updated systems, some might still need this to be undertaken. This can be a very expensive task to complete, causing a huge hole in your budget.
New Houses
Let’s start with the pros:
Less Maintenance
One big plus point that comes with new houses, like these beautiful French Brothers homes, is that they require little to no maintenance and upkeep throughout the years. This makes it a suitable choice for those of all ages that are looking for an easier house to purchase and own.
Energy Efficient
Newer houses are very energy efficient. Built with state-of-the-art materials, you won’t have to worry about paying out on high electricity bills. This upside will undoubtedly be tempting for home buyers – especially if it’s their first home and they are looking to cut costs where they can.
Now onto the con:
Little to No Personality
One downside that you won’t face from buying an older house is that new houses tend to lack personality. Without this charm it could feel as though the house is simply made up of four walls and that it’s the same as others in the neighbourhood.
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