If you are looking for a home to buy, it’s best to first make a list of your top priorities. You may tour dozens of homes and learn along the way what type of house you prefer. While you may be interested in buying a brand new home, there are also advantages to buying an older home. Let’s look at the pros and cons.
Pros of Buying an Older Home:
Older homes tend to have more character than brand new houses. There were unique design elements used decades ago that you won’t find in new homes. These include charming features like arched doorways, transom windows, pocket doors, and telephone nooks. You’re less likely to find features like these in new homes.
Buying an Older Home in a Central Location
It’s common for the neighborhoods closest to the center of town to have older homes. This is because when the town was established, the first homes were built near the city center. If a walkable location is important to you, buying an older home may be a great option.
Built to Last
Older homes were often built more solidly and with more craftsmanship than today’s construction. Cabinets and floors were built out of authentic hardwood rather than factory-manufactured materials. Fireplaces were constructed with real stone or brick instead of an artificial veneer.
Cons of Buying an Older Home:
There are some aesthetic characteristics in older homes that aren’t appealing to most people. Shag carpeting, gaudy wallpaper, and tiny closets are more common in older homes than in newer ones. While some of these details can be updated, the lack of storage space and smaller rooms are more of a challenge.
If you’ve bought an older home built in the 1980s or before, you should have it tested for unsafe building materials like lead paint and asbestos. These materials were commonly used in the 1970s and 1980s and can pose major health threats if they are disturbed during renovations. Older homes built in the mid-60s through the early 70s may have aluminum electrical wiring, which is known to start house fires.