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Some Advantages and Disadvantages of Buying an Older Home

Many people think that buying a new home has many great advantages over buying an old home. These days, as the cost gap between new and older homes narrows, the question becomes more important. What kinds of advantages and disadvantages do you look at when considering buying an older home?

Let’s say for example that you are looking at Mooresville homes for sale and trying to decide whether or not to buy this wonderful, albeit older Mooresville real estate property. To help you decide, here are some positives to buying an older home:

1. Old Style Builds – One of the beautiful things about old houses is the amount of meticulous work that went into it. You will find many old houses that are still standing and are still beautiful precisely because of the craftsmanship that went into them. Vintage appeal, when further enhanced by regular maintenance, can give a home a certain charm that is noticeable. The dated architecture in the vernacular styles of the period also has much more character. There is really something special about having a beautiful classic home.

2. Living near long-term neighbors – Older homes often come with long-term neighbors who grew up in the community. It creates a good, family-oriented and often safer environment.

3. Some Safeguards Regarding Neighborhood Changes – If you buy a home in an older neighborhood, zoning is unlikely to change much over the years. This means that if you live in a mostly residential and older neighborhood, it’s unlikely that many commercial establishments will be in the mix. Mainly because they don’t do very well in the old neighborhoods.

4. Spacious Yards – Most old style homes have homes that are built on large yards. This is because land was cheaper years ago. Having so much space can mean a lot to you. It could mean extra space for children and pets to roam, or an extra garage or house extension, a gazebo or maybe even an extra building for a special office or library.

If there are positives, there are also some negatives to buying an older home.

1. Ongoing maintenance. – As with any type of home, older homes require maintenance. Since they are old and many of the systems and materials used may no longer be available, maintenance may be more expensive than usual.

2. Repairing systems can be more expensive. – If there is anything that needs to be replaced in wiring, plumbing and the like, it may be more expensive because the system is different from the newer ones.

3. Smaller closets. – Older style homes tend to have smaller closet spaces to accommodate larger rooms and garages.

4. Often more expensive than new homes – Older homes are often located near schools, mass transit, and other important institutions. As such, they can be more expensive than new homes.

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