The benefits of buying an ‘existing’ property

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It all comes down to personal taste, but some buyers are dead set on an older property while others will only consider new builds. So, which is best? There are pros and cons for each but here we look at the numerous benefits of buying an older property.

Personality

Older homes often have much more character and personality. They have a story, have been lived in and as such have their own history to tell. Previous owners might have made additions or completed work that you admire, or the house might have fascinating and attractive period features. It’s still possible to put your own stamp onto an older property, fill it full of mod cons or make changes to the building work (unless it’s a listed property of course).

Community

The majority of older homes are in existing and established neighbourhoods. There will most likely be a well-established transport network, plenty of amenities, schools and shops nearby. Community groups will be well-established and you’re more likely to find things like Neighbourhood Watch groups and a full timetable of activities at local community centres and libraries. Most new estates won’t have had the time to settle into proper neighbourhoods so if that’s important to you, older homes will be more attractive. For a Gloucester Estate Agent, visit TGRES Gloucester Estate Agents

Cost

An older property could be cheaper than buying new straight off the plot plus there are a lot more of them available to choose from on the market. Around a quarter of a million new homes were sold last year compared to almost one million existing older homes. Depending on market conditions, it’s easier to negotiate on the price of an older home than it is with a brand new one.

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Size and Quality

The plots of land that were used in the past to build on were larger than those used today, meaning you get a bigger home and larger garden than you would with a new build in most cases. Buying an older home means older building material, which can be a good thing. The materials and crafting of the past was often stronger, more detailed and longer-lasting than the mass-produced materials of today. They were built to last and many display intricate craftsmanship like dove-tail joints, hand carved wooden bannisters and antique fireplaces.

Landscape

If the great outdoors is important to you, then a long-established and stunning garden might just convince you that an older home is for you. Trees that have perhaps stood for centuries or at least a few decades, hedges full of wildlife and blooming flowerbeds. You don’t find these on the plot of a new build very often as no vegetation or wildlife has had time to establish itself.

Remodelling Fun

Of course, buying an older home doesn’t mean everything inside has to remain of that era. A huge amount of fun can be had from remodelling the interior and combining the wonderful older or period features with modern conveniences. For example, keeping an antique iron bathtub but also installing a modern stand-up power shower.

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