Golden Oldies vs New Kids on the Block-A View from our Fine & Country department.

Golden Oldies vs New Kids on the Block-A View from our Fine & Country department.

When you’re looking for your new home do you want the charm of an old house or the modern features of a new property? Simon Bradbury Partner at Fine & Country Cambridgeshire puts forward the pros and cons to help you make the move that suits you best.

“You may think you already know what kind of home you’re looking for but have you considered the potential work that picture-perfect country cottage may need after you move in? Or the implications when it comes to selling your new build further down the line? While there are certainly no hard and fast rules dictating what you must buy, it’s certainly worth knowing what the advantages and disadvantages are of both new and old properties so you can decide on what fits your requirements and taste.”

Older Homes

Pros:

• More character – Older properties often reveal attractive characteristics, such as fireplaces and exposed beams, which appeal to certain buyers. The style of the building itself, for example a Georgian townhouse, and period features are real selling points that give a home its own unique style
• More land and space – More often than not, older homes are built on much bigger plots of land than new properties, especially in rural locations. This typically means a good-sized garden and larger rooms
• Scope for development – As well as showcasing original features, making your own mark and sympathetically modernising an older property like revamping the kitchen can increase the value of your home

Cons:

• Maintenance and DIY – As you delve into the inner workings of an older house you may discover considerable costs required to update heating and wiring systems, improve insulation and make structural repairs. If the previous residents are from an older generation their tastes in decoration may not fit with yours and you may have to change the décor in every room
• More expensive – All the traditional features mentioned in the ‘Pros’ section above will come at a cost so you may find older properties cost more and are in higher demand

Newer Homes

Pros:

• Less maintenance – In theory a newer home should require less work and repairs as its features have gone through less wear and tear
• Efficiency – Modern properties must conform to latest environmental standards, therefore a more energy efficient home should mean lower utility bills
• Modern amenities – For many, the prospect of walking into a modern home that has a stylish fitted kitchen and en-suite bathrooms is absolutely essential
• New build incentives – A brand new home will have no lengthy buying chain for you to get involved with. There may also be cash-back and deposit offers available

 Cons:

• Less space – Look at any modern housing development and you will see that new houses are built a lot closer together on small plots of land. A big garden may be hard to find
• Lack of individuality – Again, on modern estates all the houses will look very similar as they are built to similar plans. This will put off those looking for individuality. Also, you may have a tougher time when it comes to selling if you put your the home on the market at the same time as other similar looking properties on the estate
• Settling – Brand new houses need time to settle and can cause cracks in foundations, walls and door frames

For advice on buying or selling a property, please contact Fine & Country Cambridgeshire on 0845 6032825 or visit www.fineandcountry.com