Pros and Cons of Buying an Older House in Athens

There’s no doubt about it: older homes have character. From that grand fireplace to the superb craftsmanship in the woodwork to the overall nostalgic appeal, older homes have a lot to offer. But they also have drawbacks, such as greater maintenance requirements and higher utility bills. So which should you opt for – a newer home or an older one? To help you with your decision, here are both the pros and cons of buying an older house in Athens.   

Pros of Buying an Older House in Athens

ARCHITECTURE AND DESIGN

As you know, older homes often have “character,” unlike the cookie-cutter modern homes. They tend to have architectural individuality, coming in a variety of styles ranging from Victorian to Tudor to Colonial. In addition, it’s easy to see the superb craftsmanship and attention to detail lacking in newer homes. So architectural individuality is important to you, then buying an older house in Athens would be a good move.

LARGER LOT AND MATURE LANDSCAPING

Two not insignificant pluses of buying an older house in Athensboth stem from the fact that it is older. 

  1. First, land was more affordable in the past, and for-sale land was much more abundant. This means that the lots (and, of course, the yards) are significantly bigger than what you’ll find with newer houses.
  2. And because older houses are older, they have mature landscaping, in particular large, mature trees. Large, full-grown trees can add to a home’s value, as well as cutting down utility bills owing to the shade and windbreak they provide.

ESTABLISHED NEIGHBORHOOD

Similarly, when buying an older house in Athens you’ll be buying in an established neighborhood with a definite, easily discernible character and personality. That means you can know exactly what kind of neighborhood you’ll be buying into, and, as a result, you’ll be able to determine whether it’s right for your and your family.

LOWER PURCHASE PRICE

One of the most attractive pros of buying an older house is that it typically costs less to purchase than a newer house. Even though you’ll be paying for all that charm, character, and individuality, most of the time you’ll pay less. In fact, a newly built home can often cost 30% (or more) than an older home.

Cons of Buying an Older Home

GREATER MAINTENANCE DEMANDS 

While the age of an older home can be a plus in some ways (as we pointed out above), it also has its downsides. Chief among these is probably the greater maintenance demands and cost. The plumbing and electrical systems are older, floors may slope from settling, and the HVAC may no longer be up to the job. These are all things you’ll have to deal with when buying an older house in Athens.

PROBLEMS WITH FUNCTIONALITY

Older homes were built with different lifestyles in mind than what we have today. So, typically, they have smaller rooms, less storage, and fewer amenities than modern buyers would like. The upshot, then, is that an older home may not be a good fit for your modern lifestyle.

HIGHER INSURANCE COSTS

Buying an older house may also mean that you pay more for your homeowner’s insurance. Older materials, outdated plumbing, and aged wiring can present health and safety hazards. As a result, your insurance will cost you more. Be sure to consult your Athens agent at 706-426-1082 to find out more about this concerning an older house.

LOWER ENERGY EFFICIENCY AND HIGHER UTILITY BILLS

Maybe the biggest con of buying an older house in Athens is the lower energy efficiency, which typically means higher utility bills. Many older homes have high ceilings, little (if any) insulation, and single windows, all of which contribute to significantly reduced energy efficiency. And then, of course, it will take a good chunk of cash to modernize and make the necessary energy-efficiency upgrades.

Making the Decision

So should you buy an older or newer home? The answer depends on your needs and wants, as well as a careful weighing of the pros and cons. But you don’t have to do it all alone. An experienced Athens agent can provide valuable assistance to help guide you in the right direction. So if you’re considering buying an older house in Athens, be sure to contact us at 706-426-1082.

Georgui Kassaev

Georgui Kassaev was invited to this country in 1996 during the Atlanta Olympic games. The first place he came to call his home after leaving Russia and performing all over Mexico, was Athens. He became a professional mixed martial arts fighter, then coach, and eventually obtained two black belts in taekwondo and Brazilian jiu-jitsu. He formed a specialty carpentry and construction business which sparked his passion for real estate. He then rediscovered his first passion performing. After all, he has performed in the circus since he was eleven years old in front of thousands of people and then again when he was an adult as a professional fighter. In 2018 he landed his first 3 television roles. While acting, he continued developing his real estate skills, becoming a value-add investor in the Classic City and then getting his real estate license. He has now become a listing specialist in the Greater Athens Area, working with homeowners to protect their interests and get them the right price for their property! However, he never abandoned his construction roots and works with investor clients to help them buy properties based on their numbers with no aversion to making multiple offers. Georgui is fluent in three languages Russian, Spanish, and English. He is proficient in video production and social media marketing.

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