Buying your first home : Old VS Modern

modern and old british terrace houseSo you’ve got money ready use as a deposit to buy your first home and have started browsing on RightMove.co.uk etc to see what’s for sale.  It’s likely that you already have a good idea about the area you’d like to live in, probably due to; family, friends and your place of work. A common dilemma however is what type of property to buy – modern or old?

 

For first time buyers terrace houses remain a popular option. In Britain there are vast amounts of older terrace houses still standing strong. These were typically built between the 1850 through to 1910 for workers due to the industrial revolution. Many more modern terrace houses built from the 1960’s onwards (often varying hugely in style down to which decade it was built in).

 

So what to buy, modern or old? The truth is there are advantages and disadvantages for both. We hope the information below will help you decide what’s right for you:-

 

Older terrace house-the advantages

+     Typically located in a good central locations (often within walking distance of town or city centres).

+     Large rooms with high ceilings.

+     Built solidly – internal walls are solid brick.

+     Already stood the test of time- chances are any problem signs would have occurred/would be visible.

+     Buildings tend to keep nice and cool in the summer

+     Often complimented by period features such as original fireplaces and floorboards.

 

Older terrace house-the disadvantages

–   Generally more expensive to heat in the winter.

–   Often have outdated layouts-bathroom downstairs at the back of the property.

–   No cavity walls- these properties were built solidly but feature no form of insulation often causing cold/damp walls.

–   On-going maintenance risk high. Remember these properties are over 100 years old and the roof will not last forever.

–   Often no private parking. These properties were built before people had cars therefore you have to park on the street which may incur additional expense with having to purchase parking permits

 

Modern terrace house- the advantagessold 1901 terrace house in norwich, england

 

+     Energy efficient and cheaper to heat in winter months thanks to cavity walls and double glazed windows.

+     Good layout – bathrooms located near bedrooms

+     Designed for modern living – toilets typically on both levels

+     Less of a maintenance risk being newer

+     Often built with private off street parking

 

Modern terrace house -the disadvantages

 

–   Smaller rooms

–   More likely to have stud internal walls (not solid brick)

–   Some built with a less appealing dated design, however the latest terrace houses are often built on traditional styles.

 

 

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