When it comes to purchasing a home, buyers generally fall into two main categories: those who only accept period houses with oodles of character and original features, and those who favour the easy life permitted in a fresh, low maintenance new build. Whatever your preference is, this guide will help you weigh up all the information and make the right buying decision.
Well, if size is your only consideration, older properties nearly always offer superior floor space. With more and more densely populated new build developments springing up everywhere, people often feel they need more room, and if this is you, a Victorian terrace or perhaps even a Georgian town house might well suit your taste.
Another benefit of older homes is that they were built by master craftsmen with impeccable attention to detail. They have weathered many a storm and stood tall for decades, sometimes even centuries, proving themselves as sturdy and reliable structures – not something that can ever be guaranteed with new builds. More than this, a period home will usually be surrounded beautiful, mature trees and vegetation whilst also being located much closer to the centre of a town or city.
Understandably, older houses require more attention from their owners. This could be in the form of a new roof, re-plastering walls, restoring old chimneys or even addressing floor structure and foundation defects. So if you just want a place to lay your head, this is something you really need to consider. Also, heating has not always been a top consideration in the building industry, so older properties can be more expensive to keep warm.
For people on a budget, period buildings are probably not a good idea. The previously mentioned maintenance prices can fall into thousands of pounds and although the beauty of a black and white Tudor house is undeniable, if it needs fixing, specialists are required, and they don’t come cheap.
There can be no denying that it feels good to buy a home with perfectly plastered walls, double glazing and more importantly: a warranty. The purchasing process for new builds is inevitably much simpler and you have the privilege of knowing that everything inside is brand new, clean and unused. Safety is also top priority nowadays and new builds are required to conform to the highest of standards. For example, rooms over a certain size are required by law to have opening windows, large enough for people to escape in the event of a fire – not something that you find in all period houses.
Whilst older buildings may fluctuate in market value from time to time, modern homes on new developments hold their price well. This is because the structure’s value is directly linked to other buildings on the development, which may well go up in price as they sell, often above normal house price inflation.
New builds often lack character and aren’t as solid or spacious as older homes. Whole estates can be constructed in a matter of months and although these districts are often aesthetically pleasing for a while, they soon start to remind people of old council estates where everybody lives in the same style house.
Even though new homes keep their value well, it can often be difficult to sell them on. If they are on a new development that is still offering homes for sale, your second-hand house will be in direct competition with the brand new ones. Also, smaller rooms and compact gardens are pretty standard in new builds, so if you’ve got a big family, it could well be a tight squeeze.
Thanks to our friends at Kubie Gold estate agents for this guest post. They are the friendly local experts if you are looking for houses for sale in Marylebone or property to rent in the surrounding areas.