Investing in property can be such a complicated thing. There are so many factors to consider when picking the right place. Like whereabouts it’s located, how big the property is and what the price tag is. Also whether a property is old or brand spanking new can often hold a lot of sway. But what is the right choice here? Read on to find out.
Older – character
One of the benefits of choosing an older property as opposed to a new build one is definitely a character. Compare a spacious bay fronted property from Victorian times with a new build apartment. The former is likely to have much more attractive features including ornate details on the outer face of the building such as balconies and canopies, as well as a sturdy build.
While not exclusively lacking in character a typical new build has none of these vintage touches that make it such a pleasant place to live. That is why unless you are paying for a premium new build design, older buildings often win out in the character stakes.
Newer – finish
However, that doesn’t mean that new builds are no good, far from it. They just suit a different sort of buyer. In particular, they are perfect for people that are looking for high-quality finishes to already be included in the property they are purchasing.
In new builds you can also usually its guarantee that the walls will all be skimmed, that deep skirting boards and coving will be installed, and that the whole place will be decorated in a neutral finish. This means that there is less work to be done before you, or your tenants move in.
Older – renovations work
Although some folks are quite happy to get down and dirty and do the renovation work that needs to be completed to bring their older home up to standard.
However, it is worth bearing in mind that older buildings often need the help of a company that offers a heritage restoration service specific to their era. This is because there are particular regulations that need to be met, as well as appropriate methods that any restorer would need to be an expert in, to get to the correct standard.
Newer – facilities
Newer homes are often more desirable because of their proximity to a good range of facilities. This is because modern planners put more of a premium on having stores and entertainment in the local area than older planners did.
Their focus was primarily on developing leafy green residential suburbs. Places that are no doubt wonderful to live. But you may struggle to entertain the kids or pop to a shop without getting in your car and driving there.
Older – light
Lastly, light is always such a huge factor in any property buying decision. But are older or newer properties best for this?
Well, in reality, there is no clear winner. Older properties do often have higher windows and ceilings giving a light and airy finish. But the then much newer buildings are also built with this in mind. So, in this case, it’s best to judge it as you find it.