Should You Buy New or Go for a Period Property?
With an increasing number of new housing developments being started, there is now a wider choice of properties available for buyers. For many of those looking on the market these are the obvious choice, but other buyers prefer the option of a period property. If you're currently looking at what's available, which should you opt for?
One of the key benefits of new-builds is that they are very well insulated and come with features such as double glazing and new boilers. These all help to keep the property warmer and reduce your energy bills. These elements can still be retrofitted into older properties. However, if they haven't already been done, you should consider the costs involved in this. Depending on the current condition of the property and the style of windows you want to fit, this could add significantly to the purchase price.
Make It Your Own
New-builds come with a choice of design options if you buy off-plan. This allows you to choose your own style of kitchen, bathroom and other features, such as the fireplace and banister. Some also come with additional elements, including a Juliet balcony or a conservatory. The majority of new homes will be painted in neutral magnolia tones throughout. This means that you don't have to live with someone else's taste until you get round to decorating, but it can look plain when you initially move in. Even though period properties may already be decorated in a style that's not to your liking, they may still have some of their original features, including coving or a feature fireplace, to add to the look.
New-builds are often constructed on smaller plots than older homes are. This will lead to smaller or fewer rooms in a property, resulting in a lack of sufficient storage space. However, you may find that the layout of the property suits your current lifestyle, as it will have been designed with modern families in mind. On the other hand, period properties can benefit from higher ceilings, which will make even a small room appear larger. The total floor space that you're paying for will also tend to be greater. This could provide you with more scope to adapt the property to meet your needs, such as knocking through rooms to create an open-plan space.
Due to the small plot sizes, you may have to compromise on the outdoor space with a new-build property. Developers will often try to accommodate as many properties as they can on a certain site, and this can impact on the size of the garden. However, in order to make up for this, the property might have a Juliet balcony to increase the space and options available to you. When you look at period properties, you will often find a mature garden, making it easier to visualise living there, and there may be space to extend if you want to at a later date.