During your search for a new home, you’ll encounter properties of all sizes and ages. One day, you might discover an available older property with a unique design in a location you love and ask yourself — is buying an old house worth it? There are many benefits of purchasing an older home over a modern one that aren’t quite apparent at first glance. If you’re interested in an older property, then let’s take a look at four notable advantages of buying an old house.
Should I buy an old house? If you’re on a budget, then yes! One of the major advantages of buying an old house is that they’re more likely to be affordable than brand-new properties. In general, old homes are cheaper than new ones with similar features and dimensions — in some cases, newer houses may be up to 30% more expensive! That’s why if you want to save money on your initial purchase, it may be wise to consider moving into an older home.
More Lot Size
If you’re planning to build a new pool or patio or are interested in extensive landscaping, then an old home would be a great choice. Land was more abundant in the past, meaning that older properties commonly have bigger lot sizes than newer ones because of the decrease in available square footage over the years. Some previous owners may have already grown and cared for mature plants and greenery, meaning that you may not have to purchase anything new to make your backyard look visually appealing.
A Good Investment
Is buying an old house worth it if it doesn’t have everything you’re looking for in a home? Absolutely! If an older property doesn’t have a feature that you want, then there’s nothing stopping you from adding it while you live there. Additionally, another one of the major advantages of buying an old house is that your remodeling project can help raise its property value. This means that if you ever move out in the future, you’ll be able to sell it for a higher price than when you bought it.
One of the advantages of buying an old house that some don’t realize until they move in is that they’re more likely to have been built in an established location closer to the center of town. Being in a walkable area means that you’ll be closer to schools and stores and won’t have to drive to buy your essentials and other amenities.
If You’re Looking for a New Home, The Mike McCann Team Will Help
Now that you know the advantages of buying an old house, we’ll be there to help you find one that best fits your unique needs. At The Mike McCann Team, we strive to help homebuyers discover the ideal home in Main Line and Bella Vista, Philadelphia, among other locations. For assistance from a team with years of combined experience in the industry, reach out today and schedule your appointment.