5 Reasons Why You Should Buy an Old Property

It is quite understandable that newly constructed houses have more appeal than old properties, with their stylish decor, new appliances, and fresh touch-ups.  

Many people are apprehensive about purchasing old properties because they believe that too much of their time and money will be spent on its renovation and renovation, which is not entirely true. Old houses have their own charm and character.

In Pakistan, there are few reliable platforms like Graana.com, Pakistan’s 1st Online Real Estate Marketplace that can help people find old houses for sale. Buying an old property comes with many different benefits, as highlighted below.

Old Houses are Low-Priced

Old houses are generally cheaper than the newly built ones, for the following reasons:

  • Modern construction materials were not used.  
  • The structure is old, and not designed as per new standards or trends.
  • There is a likely chance that they may require major renovation work. 

Buying an old house can be a better option for you if you have no issues investing your money and time in a little renovation/remodeling of the house.

The Property Tax is Low

Another great feature of buying an old house is that you will be required to pay lower property tax. The assessment of a house is based on its market value. The lesser the market value, the lower the property tax, and vice versa. 

With an older house, you might pay a lot less property tax than a house around the corner of the neighborhood, which is similarly sized, albeit more modern.

Old Property is Generally Large

Old houses usually have larger yards. The reason is that land scarcity was not an issue, so people used to build relatively bigger houses. For example, a number of old houses for sale in Karachi are known for their spacious structures.

Over time, the population increased and the demand for houses also increased, raising the value of the properties. This resulted in people building houses in relatively smaller areas. 

Old Property Has More Character

Although newer houses have a modern structure and come with more amenities, one thing they lack is distinctiveness. 

Similar woodwork, interior, appliances etc. give modern-day houses a somewhat uniform and monotonous look. 

On the other hand, an old house has characteristic, unique features, for example, colorful glass windows, kucha sehen (an inner courtyard that was particularly common in old houses), etc.

Higher Craftsmanship and Lower Maintenance Cost

Having low maintenance costs also increases the appeal of buying an old house. For instance, there are many old houses for sale in Lahore. The superior craftsmanship and relatively more solid structures reduce the chances for frequent repairs etc.

Revamp the Old House 

Even if old houses do not cater to your sense of style, you still have the opportunity to revamp them according to your preferences. 

For example, if the old school flooring of the house does not appeal to you, you can change it with a wooden floor or marble tiles. The point is, its entirely up to you and the possibilities are endless.

With new houses, you will get limited options for renovation because redesigning the new house will be less economical.

Older Houses Are More Energy Efficient

Old houses are more energy-efficient because of the lack of electrical appliances that are installed in modern houses. This makes them more eco-friendly and safe for the environment. 

There is no doubt that old houses are not in line with modern needs and wants, but they do have more advantages and potential ROI than you may think. 

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