Buying a home is a unique situation in that the age of the property doesn’t tend to influence the price in any meaningful way. When you buy a used car, for example, the age of the car and the number of miles it has accumulated will play a huge role in the price. It doesn’t really work that way with houses, and old homes can easily sell for as much or more than comparable new ones.
So, with price not being much of a factor, how do you know what age home is best to buy? This post will help shed some light on that puzzle, and you can reach out directly to the Tate Realtors at Smith Marketing for help in your home search.
The Benefits of a New Home
It should be pretty obvious that the main benefit of a new home is that everything in that home is new and should last for years to come. There has been no wear and tear on any of the components, and there should be warranty coverage to protect you if anything does come up. This is one of the main reasons that a significant percentage of home buyers want to find something new to purchase.
It’s also possible that finding a new home is going to be more likely in the areas where you want to live. For example, if there is a new development with new schools where you’d like to send your kids, the inventory of real estate in that area is going to skew toward new construction.
Going Back 10 or 20 Years
When you look at homes in this age range, you’ll find that most of the main structural components are still in good shape, but some of the cosmetic stuff might be starting to suffer a bit. Those fixes can be easy and often inexpensive, like adding new paint or maybe replacing the indoor door handles. Also, a home of this age range might start to look and feel a little dated, so that’s something to keep in mind if you are going to want to renovate in the future.
Older, Historic Homes
You might come across some real estate listings promoting homes that were built more than 40 or 50 years ago. For many people, the appeal of these kinds of houses is in the “charm” or “character” that they offer. Houses are built differently today than they were generations ago, and some buyers will love the aesthetics and layout of an older house.
Of course, that charm can come at a price, as many of the features in an older home might need to be replaced along the way; certainly the appliances that haven’t been brought up to current standards can be an issue. Plenty of problems can pop up after you take ownership of an older home and any warranty coverage that once existed will be long gone.
The reputation of Allen Tate in Greensboro speaks for itself, as the Realtors under this umbrella have been leaders in the Greensboro real estate market for many years. If you’d like to put powerful local knowledge on your side while looking to buy a home, take a moment today to get in touch with Smith Marketing.