By: Ralph Ciancio

Benefits of Buying an Older, Fixer-Upper, Renovation Project-Type Home

Tags: benefits of buying an older home, home renovation, dated home, old house for sale,

When purchasing a home, it is smart to evaluate all options – even homes that are 10+ years old, and not exactly how you want it, or "turnkey". After all, finding a home that checks off all your boxes is nearly impossible. Sometimes you’ll have to compromise, you may find a home in your desired location but it may just need some minor repairs or even a major renovation; whether it is repainting the kitchen cabinets, replacing the floors, or demolishing a wall – all is possible. In fact, every home will eventually need some type of upkeep to keep up with modern day real estate trends. There are lots of great opportunities on the market that could save you some money up-front now, to be able to customize the home however you'd like - Check out 26 Loring Crescent in Unionville!
 
There are several benefits of buying an older, more dated home:

  1. Lower upfront costs. This depends on multiple factors, but generally speaking older homes are sold for less than modern day-built homes, or homes that have gone through a major renovation. This means that you could use the money that you saved back into renovating the home.
     
  2. Flexibility in customization. You don’t have to have what everyone else has. For example, if the cabinets are an olden day orange colour and you’d prefer black, you can do just that – the possibilities are endless!

    Before & After Renovation Kitchen
     
  3. Older homes have more character. Nowadays homes are built so quickly that a lot of homes look similar, if not exactly the same – inside and out. A lot of new home builds often have the same cookie-cutter finishings that don’t really make the home stand out. Older homes may have mature trees, stained glass windows or antique light fixtures, etc. that you can’t buy today. If you love character but also want some modernness, you don’t have to abandon every aspect of the home, a combination of both makes a very unique home.

    Vintage Kitchen
     
  4. Location. Most older homes have filled major city cores so newer builds are often being built in up-and-coming cities in the outer suburbs or rural areas, away from establishments. Although many small cities have been developing immensely in the past few years, an older home located in Toronto and the Greater Toronto Area have access to many more schools, shops, restaurants, and amenities than a brand-new home in Innisfil or Keswick, ON.
     
  5. Larger lot size. When land wasn’t so scarce years ago, homes were built with larger lot sizes. If you have a large family and pets that would enjoy the extra outdoor space to call home, an older house with a larger lot may be right for you.

    Home with a Large Lot
Finding the perfect home doesn’t come easy, there are opportunities, pros and cons of buying a newer or older home. Ralph Ciancio built over 2,000 homes during his time at Mattamy Homes. He can give you excellent non-biased guidance on home structure, quality, materials and build. Email us today to start your search, we can help you find the perfect home - Hello@HelpingYouMove.ca