Should You Buy An Old House?
While they may take some work in terms of renovating and upgrading, older homes also have some important advantages. Newer homes may attract attention with conveniences like modern appliances, but buying an old house can come with some perks, too. We’ll explore these benefits below in more detail. If you are looking to buy an old house, consider these points. Do you want to buy an old house in Bend, Oregon? Talk to the experts!
Old Houses Are More Affordable
Older houses usually cost less, making them more affordable. This is particularly important for first-time buyers and anyone on a budget. While older homes might not have modern upgrades, you could use the savings earned from the sale price and invest in some of these features in the future. Essentially, if you’re not looking to break the bank, you may want to buy an old house.
Tax Advantages
As most older houses are cheaper, their property taxes are often lower. This is because tax rates are linked with the sale price or value. Buying historic houses may also come with additional tax benefits. Historic houses usually have a historical connection with a well-known person or event – or even a particular architectural style. If you want to buy an old house, consider one with historical connections.
Central Oregon has several desirable historic neighborhoods.
Larger Land Area
It’s often the case that older houses are situated on larger areas of land than the newer neighboring houses. This is a big advantage if you value space or if you’re thinking of adding on some rooms or renovating. If neighborhood space is limited, this may be an attractive selling point if you buy an old house as a long-term investment. This is especially beneficial if you are looking for an old house in Bend, Oregon.
A Better Address
Some neighborhoods are prohibitively expensive to buy into. When there’s an opportunity to buy an old house at a great address, this can provide a chance to afford the location you’ve always dreamed of. There may be added advantages of living at a particular address, such as access to great schools or doctors, or the availability of nearby amenities like parks and rivers. You might also be able to live a bit closer to work, cutting your commuting time.
Additional Rooms
As old houses generally sell for lower prices, you might be able to afford a house with more rooms. If you have children, then having more bedrooms may be an important concern. Compared to a new house where you may be able to get 3 bedrooms, buying an older house for the same price may grant you 4 to 5 bedrooms at no additional cost. If space is a consideration, then this could be an important deciding factor between an old or a new house. Consider what is best for your family.
Old House Charm
Older houses often have extra charm, character, and beauty in the way they were designed or in the finishings used in their decors, such as the windows and flooring. Some older houses were crafted by experts who used superior building materials. This means that your house may last longer, need fewer repairs, and may have extra design features like solid wood flooring and wrap-around verandas.
More Established Gardens
Anyone who gardens knows just how long it can take to establish shrubs, let alone trees. Buying older properties often means that you can buy more established gardens that have a more natural and aesthetic feel. If this appeals to you, then this is something to seriously consider when deciding to buy an old house.
Investment Potential
As the number of old houses on the market decline, the demand for them is likely to increase. It’s always good to do proper research into similar old homes in the area to see if their value has increased over time, which can be a good indication of their investment potential. You can also increase the value of your old home by making some improvements or by adding more rooms.
More and more home and property buyers are choosing Central Oregon. If you are looking to invest, buying an old house in Bend, Oregon may be a good bet.
Now, you’ve heard the benefits, but you may still be asking yourself- is an old house the right choice? We at Duke Warner are here to help. Click below to get started!
