The real estate market is so diverse at the moment that people find it difficult to discover the exact type of properties they want for a reasonable price. This is the main reason why you should take a step back and analyze your options thoroughly. Investing in a newly-built house that everyone is craving for because it respects the current trends may be the first option that pops in your head, but it is not the most appropriate one. Period properties, on the other hand, are the exact types of houses you should look for at the moment. While everyone is trying to purchase new houses in the suburbs, far from where they work and even farther from the main attractions of the city, turn your head to older homes that have a lot of personality and history behind.
Yes – you may have to invest some money in renovating them, but the amount is irrelevant considering how much money you are going to save from buying one. First of all, you should understand that period properties are entirely different from those on the heritage list of the country. Period houses are characterized by their architecture and year of construction. The style is the one which will tell you whether a house is a period one or not. The most popular house styles that fall into this category are Georgian, Victorian, Edwardian, Elizabethan and Queen Anne. Here are several reasons why you may want to invest in such a home rather than a newly-built one:
A property with character
Period properties have a lot of personalities, as they have been the place where people from history lived in. The walls of that house hosted events that you cannot even imagine today, and this is the one factor that offers it its character and specific feel. When you move in a newly-built home, you won’t notice any special ambiance because you are – most likely – the first owner of it and there is no history behind it. Period properties have this unique character that you will not be able to find somewhere else.
There are details that provide the house with this feeling, such as hand-carved elements, original glass for the windows, a genuine antique fireplace and so on. These features cannot be found these days very easily, and if you find them, they are surely overpriced and exclusivist. In period properties, these are common because they were specific for the period. All these small elements combined to give the house the character and personality it has. You are going to observe that all period properties you visit have a different feel to them, which makes them so special and worthy to buy.
A more solid construction
The rules in terms of constructions changed. Real estate businessmen try to build the houses they sell as fast as possible, to face the competition. In the process of buying a house which should normally last decades, constructors tend to put in less attention. Houses are no longer built the way they were in the past because of this rush. In the past, constructions were taken much more seriously and even the materials used were more qualitative. Newly-built houses that seem to have an advantageous price are often cheaply built.
In the case of period properties, you will notice that the walls are thicker, the framing is made of solid wood, the same goes for the doors and other hardware of the house’s architecture. This will definitely make a difference in the long run, making the house even more sustainable, as it keeps the cold away during the winter and the house chill during the summer. There are a plethora of benefits in terms of architectural construction of period homes and it is often the main reason why people choose such homes instead of new ones. Getting better quality for less of a price is the main benefit you get from a period home.
If location is the main criterion you seek for when it comes to buying a house, you should know that newly-built homes are usually away from the center of the city and most important attractions. On the other hand, period properties are located in urban neighborhoods. Because in the past land was easier to acquire and there was less population living in the area in which you are living now, these homes were built in very good locations that are not accessible to new constructors. Buying an old house will definitely come with this benefit, which will help you save on transportation costs in the long run. Living in the central area has multiple advantages that everyone will enjoy if this is an important criterion for them.
A gem in the backyard
Period homes hide a lot of secrets that you are not aware of, so buying the house and the land it rests on will give you the opportunity to find a lot of hidden gems that are not thoroughly analyzed by real estate agents. These period properties come with generous gardens most of the times. Considering the customs and habits of people living in the old times, you should put your metal detector to good use and check out this piece of land. It is not uncommon for people who purchased period properties to find treasures in their backyard. It can be a bottle of old wine or some gold – you never know what the backyard of an old house hides.
Fewer taxes to pay for
What is even more interesting about older homes is that some taxes are excluded from the scheme. Depending on your country’s regulations, there might be tax abatement programs that apply to homes which are older than a specified number of years. The programs are meant to reduce or waive some of the taxes that you would normally have to pay for. This way, you won’t have as many taxes to pay as in the case of a new home.