Pros and Cons of Buying an “Old House”
The term old house is commonly used for houses that were built in between 1914 to 1940. The houses that were built before 1914 are often termed as period houses and include Georgian, Victorian and Edwardian style houses.
In case you are looking for a property that has stood the test of time, has plenty of charisma and personality, is suitable for renovation and conversion and has outbuildings and large plot of land with it, then you must realize that old buildings are ideally suited for your requirements.
We are lucky to be blessed with beautiful buildings surrounding village houses, castles, mansions and farmhouses. Old houses are not just a piece of property; they are a page of our glorious history and a unique timeless expression of the craft of artisans and architects who built them.
Pros of Buying Old Property:
- Old property comes with a set of exclusive features that are almost impossible to replicate in modern times. These buildings are full of history and character – things that have no substitute.
- Interesting architectural features such as inglenook fireplaces, impressive wooden floors. Hand crafted woodwork, stylized panels and other impressive architectural features.
- In terms of space, it is hard to compete with old houses. The high roofs, spacious lawns, big rooms and exclusive features like big kitchens are all features that modern houses do not possess.
- Old houses come with magnificent gardens and vegetable patches. If you are interested in gardening and horticulture, they offer an amazing place to enhance your skills.
- The location of old houses is normally far away from busy streets and central cities. This provides for relaxed and comfortable lifestyle that is almost impossible to duplicate in modern cities.
- The outbuildings included in the property provide great options for future expansions. They can be converted into libraries, apartments, self-contained studio, bed and breakfast or workshop.
- Old houses do not suffer from property devaluation. There is no bust or boom in the market for old houses. They have a rarity factor and are desirable objects because of their unique history. The older they get, the more valued they become.
Cons of Buying Old Property:
- They are expensive to maintain and often the basic necessities of life are missing from them. It would be hard to imagine a house in central London to be without central heating but many old houses do not have central heating in them. Hence the overall expense of maintaining such houses is more.
- Out dated bathrooms and kitchens can lead problems. A lot of investment is required in updating these facilities (in most cases)
- Before you move in to your old house, you may have to spend enormous amount of money in terms of renovation and restoration.
- There may be hidden aspects of your property like rising damp, landslide or bug infestation. These things may be difficult to observe unless you get a proper survey done of the property.
- The restrictive covenants or rights of way may mean that you may be able to do very little with your property.
- You may also find it difficult to get a mortgage for an old property.
Old properties are ideal for people who are looking for a classical adventure and may not be ideal for every single person. For the people who are willing to take the risk and have the financial resources to manage an old house – they truly offer an unparalleled life experience, full of adventure and joy.