The Advantage of Buying an Older Home

 

A few weeks ago, I posted a blog about the advantages of buying a new construction (see my post, “Should I Buy A New Construction?”).  In this post, I’m going to list the advantages of buying an older home.

When buying an already existing home, it is often the disadvantages that come to mind first.  It is an expense to redo the wiring and the plumbing in an older home, for instance.  And renovations can be costly too, such as replacing the doors and windows, redoing the roof or remodeling  a kitchen.  Another disadvantage is that the closet and storage spaces tend to be much smaller.

But there are many more reasons to consider an older home.

As the cost of land goes up, the size of new homes comes down, as does the size of the lots.  Existing homes usually have larger lot sizes, especially in the city.

Older homes have stood for decades, sometimes centuries, and have weathered many storms.  Some older homes are architectural marvels, built by hand by genuine craftsmen with meticulous attention to detail.  Their construction is generally very solid – older homes typically have thicker walls and denser wood, and the hardware is built to last.  These older homes possess charm, character and uniqueness.

Whereas new developments tend to go up where land is available, generally in the middle of nowhere, older homes tend to have easier access to restaurants, night life, shopping and public transportation.

When you consider purchasing a home in an established neighbourhood, zoning changes are unlikely to occur.  There are no new homes that will be built close to you, so you don’t have to worry about being in an endless construction zone, amid the noise and soot.

When you buy an older home, any house settling has already taken place, so defects are more easily seen or have already been repaired before your arrival.  The trees are already mature, lending you greater privacy and peace of mind.

As far as costs are concerned, it will be endlessly debated whether it is more expensive to purchase a new construction, or whether it is more expensive to renovate an already existing home.  Because there are arguments on both sides of the fence, chances are it all balances out in the end.  So the final decision about whether to purchase a new construction or an older home is less likely to be about the costs involved and more about the kind of lifestyle you are purchasing along with a new home.  At Century 21 Excel, we have both new and older homes that we can show you, so whatever your preferences, we can help you find that home you’re looking for.

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