Investing in a property is an exciting venture, whether it’s a buy-to-let project or a place to call your own. Before you start shopping around, you’ll want to decide which kind of property you are looking for. Besides deciding upon your budget and the desired location, another key consideration to make is whether to choose a newer or older property. To help inform that decision, keep in mind the following.
New Property Pros
1 . Keep it green: When you purchase a new build, you’ll likely be getting a home that’s highly energy efficient. As a society, we’ve become far more environmentally conscious over the last few years. As a result of this, newer homes retain more heat with improved installation, triple glazing, energy- star rated appliances, and sometimes, solar panels to power the property. You’ll save money on your heating bills as a result of a new build home.
2. No Maintenance: When you buy a new home, you’ll have absolutely no maintenance, to begin with. Over time, you may have the odd issue here and there, but this should not occur until a least a few years in. Less maintenance means less money spent on such issues, plus less of your time investing in fixing up those cracks and crevices!
3. Luxury factor: With a new build, you may be the very first person to live in the house, which is very attractive to many buyers. There’s a certain luxurious quality to being the first person to own a property; you can really put your mark on the place and enjoy the uniqueness of it! New builds are often a blank canvas decor-wise, so you can choose the latest interior design trends as you wish.
Older Property Pros
1 . A Project: sure older houses have more maintenance issues, but many buyers see this as a pro. With an older house, you often get yourself a nice project to work on. Renovating a home can be a fun way to learn new skills, get creative, and put your personality into the property.
2. The Charm: Many people prefer an older property because of the charm that arrives with it. Whether it’s the style of an historic manor house, the stories within the walls, or the mature garden spaces, old homes have pretty of character to offer.
3. Investment: Both a new build and an older home are an investment, and prices will vary. However, sometimes investing in an older property can be more expensive due to the vintage features. This is not true of every case, but those looking out for an older property often go for these from an investment perspective.
Whichever type you choose, it’s essential to do your research. Remember that you are investing in the location as well as the home. Ensure that you are certain that the neighbourhood is right for you. Spend enough time exploring the local town and it’s amenities before coming to a decision.
