Historic Homes: Five Pros and Cons of Buying Older Homes

When you buy a property, you want something that will be comfortable to live in or something that will make you a good return on your investment. With that in mind, what are some pros and cons of purchasing an older home?

The House May Be Cheaper

Older homes may be cheaper because they are older and need work done to them. However, if the structure is solid, you may not need to do anything other than cosmetic updates. Adding a new coat of paint or upgrading the bathroom may be all you need to do to make the house a true home. If you keep your costs low enough, you can build equity in the home faster.

The Home May Be Vulnerable to Pests

An older home may be vulnerable to pests and pest damage. This is especially true if the house has not been taken care of over the past several years or has been abandoned completely. Your first step when purchasing an older home is to have a pest control company do an inspection on the property. Pest control in older neighborhoods is a must, even if you are buying a new home in an old neighborhood.

It Could Be a Historic Home

If the home was owned or used in the past by famous historical figures, it could be worth more. You would then have the opportunity to open the house for tours, exhibits and other gimmicks that could help you make money that can help you pay for your home.

The Floor Plan May Be Unsuitable to Your Needs

Homes built in the late 19th and early 20th centuries were not built the same as they are today. It is unlikely that there is going to be an open floor plan that modern buyers like. The bedrooms may also be smaller and the kitchen may be separate from the dining room. If you want an open floor plan, you should be ready to do demolition work prior to moving into the home.

The House May Lay on a Bigger Lot

One of the best reasons to buy an older home is because it may be on a bigger lot. Many old homes were built on farms or lots that are several acres in size. For those who value space, an older home may be worth buying.

While older homes may be more work, you can often times get more for your money. If you find a home with historic appeal, you might be able to make your money back and make a profit down the road.

Anita is a freelance writer from Denver, CO and often writes about home, family, auto and education. A mother of two, she enjoys traveling with her family when she isn’t writing. According to professionals who specialize in pest control in Stockton, getting an older home inspected and treated for pests is essential to keep it in good condition.