Should I buy an old property or a new one?

When dealing with homebuyers many of them are requesting new properties. Whilst I completely understand that a new home won't have all the issues that an old home has, the real question should be

"What will this home look like in 10 years, 20 years time?"

What I can tell you is that if you view a 30 year old home that is solid brick and tile but is severely outdated, the home will be there for another 30 years!

Most of the newly constructed homes will look visually appealing from the exterior with feature walls, rendered walls, timber columns etc. But did you realise the walls that are rendered are not brick they are most probably cement sheeting with render and paint nailed over the top of a timber or steel frame, did you release the feature walls are not solid stone or tiles laid on top of a solid brick wall they are most probably a powder coated cement sheet on a stud frame wall.

Why am I bringing this to your attention?

Because in 5 years time when the maintenance of the building will need attending to how are you going to fix the issues? Remember most new homes are built on very small blocks often with one zero boundary wall and the other only 1.5 metres from the neighbours fence. A lot of the homes are two storey so how are you going to fix these issues on the upper floor or roof? The answer is with great difficulty and it will cost a lot more than having virtually no maintenance on a solid brick and tiled home.

I for one as an investor would love to have peace of mind that in 10 years time my homes will still be there as strong as ever, with no maintenance issues apart from maybe some new paint and carpet. Remember maintenance on a home will hit your back pocket, and when you start getting maintenance requests from your property manager will you have the money in the bank account to rectify the problems straight away.

My advice is simple, try and buy a standalone home that has been there a few years so you can see how the home is holding up. If the homes exterior walls aresolid brick or corefilled blockwork and rendered than that is a thumbs up. If the home is an older style home with cement sheeting or other feature materials please have a building inspection completed as more than likely there will be cracking in the external wall sheeting which will result in water issues with mould etc that will need to be fixed and may cost more that you think.

If you thinking about buying your next home and need to be pointed in the right direction.

Call us now for a one on one consult and let's talk about your current situation and the various opportunities out there for you.

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