Many home buyers seem to gravitate towards newer homes, especially when they first start looking to buy. Here are some of the top features and benefits of an existing or older home.
Location – If you want to be close to the center of the city, it’s likely the majority of homes will be older. It may be worth the convenience to do some renovation or updating because one of the things you can’t change about a property is the location.
Lot Size – Land was less expensive decades ago so older developments typically have larger lots than newer developments. Many popular areas of Middle Tennessee don’t have new homes on a large lot unless you are looking in the higher price ranges.
Mature Trees and Landscaping – Often older homes have trees that are also older and more mature.
Upgraded Mechanical Systems – Sometimes I have found that older homes have higher quality HVAC systems or water heaters. Often builder grade systems are not impressive. Over time, the owner may upgrade the system when a new one is needed. This might make the home more comfortable, functional or energy efficient. This can also be true for appliances, windows, roofs and various other components of the home and property.
Ranch Style Home – If you are looking for a one level home or a home with most of the space on the main floor, you will likely find more options in an older neighborhood. This goes back to the lot size and the lots are more able to accommodate a single story home.
Affordability – If you are on a tight budget for your next home, you will likely find lower prices for the same square footage in an older home as opposed to a newer home.
Character – If you run from cookie cutter homes and neighborhoods with homes that have a similar look, an older home may have the unique character you want. Even if the older homes were similar when they were built, changes and improvements made by the respective owners over time result in many custom changes.
I usually chuckle when someone tells me that they want a new home with many mature trees. Some features are not commonly found together. You might be able to find a new home that backs to a tree line but I bet there will be an extra charge for a lot premium. Certain parts of town don’t have many new homes unless the homes are larger and a bit more expensive. Some newer neighborhoods have such small lots that many of the homes have all the bedrooms upstairs. I find that buyers must determine their top features and rank them in order of importance. It might be possible to find all the desired features in one home but that would be the proverbial needle in a haystack.