Should You Buy an Old House? Pros & Cons to Consider

Buying an older home is often a bit of a concern for many buyers. After all, this can be seen as a bit of a risk. Since we buy old homes in Colorado Springs CO all the time, we have picked on the main pros andcons to consider.

Mature Landscaping is Nice

One of the main drawbacks when you purchase a new home is that the landscape will be brand new. In this case, the owner will have to spend a lifetime nurturing the land until they (or their children) are left with a lot like what you can find on an older home’s lot.

If you would prefer to make the landscaping your own and have a personal touch to it, then there is no question that a new home is the way to go. However, those who want an established lot with already- stunning landscaping should go with an older home.

Consider Maintenance Needs, Though

One of the nice things about a brand-new home is that you will have new pipes, new walls, new electrical wiring, and so on. The nice aspect of this is that you will have to worry a lot less about maintenance during the early years of having your home.

As homes start to age, though, so do all the components and gear used to build them. For this reason, you will probably have to set aside money as an owner of an older home for yearly maintenance. If you don’t mind a little extra maintenance, an older home might still be your top choice!

Location is Important to Think About

Typically, new homes are built in areas that are only recently under the process of development and urbanization. Older homes, though, will often be built in some of the best parts of the city. If you are concerned with living in a nicer area of your city, then you will probably be shopping around for older homes.

Is there an HOA?

Homeowner’s Associations are the bane of many property owners’ existence. In addition to property taxes that you need to pay to the government, you get tacked on with additional fees that support amenities like a community swimming pool, maintaining common areas, and so on. If you want to avoid HOAs then your best bet is to secure an older home. Although this is not always the case, they tend to not have HOAs for you to worry about.

Need Help Selling a Colorado Home?

Here at Sell My House to Smith, we buy old homes in Colorado Springs CO. If you have been searching around for a buyer for your old Colorado home, give us a call. After learning more about you and the property, we will typically come with a cash offer to close the deal within a couple of days without a long sales process!