What to consider when you buy an old home
Category General News
A dream home means something different to everyone. For some, it's a sleek modern house in a peaceful suburb, a luxurious penthouse in the heart of the city, or a cosy farmhouse tucked away in the bushveld. But for others, the real magic lies in older houses for sale - the ones brimming with charm, character, and untapped potential.
Whether you're drawn to an old home by choice or circumstance, these properties can offer fantastic opportunities, especially for first-time buyers. But along with their appeal come unique challenges and important considerations. Here's a closer look at the growing trend of buying older homes and what you should know before you sign on the dotted line.
Why older homes are winning over new buyers
While some buyers are fortunate enough to find their ideal home in their ideal condition from the get-go, it's very common for people to start renovations shortly after purchasing a property. "During a tough economic period, price-conscious buyers are increasingly turning to older homes that tend to be more affordable than some of the new developments on the market," says Mark Moore, Marketing Manager at Kellaprince Properties.
One of the key drivers behind this shift to older homes is South Africa's housing shortage. "At present, the country has a housing supply backlog of at least 2.2 million units, with a significant shortage in the affordable housing or 'gap market'," explains Moore. "With a short supply of well-priced properties, prospective buyers are adapting their wish lists and choosing older homes that may need some property renovations."
Globally, Gen Zers also say they're willing to buy a fixer-upper that needs maintenance or repairs in order to get a lower purchase price. And this trend is filtering into the local market as aspirational young buyers make the most of market offerings.
In areas like Mbombela (Nelspruit), older homes have become an enticing prospect. Moore says, "The seller demographic is the older, senior, or empty-nest population looking to downscale or move to retirement estates and villages. Young buyers are flocking to these properties, which often lie in established neighbourhoods with access to good schools, shopping centres, healthcare facilities, restaurants, work opportunities, and leisure attractions."
Older homes also offer lifestyle perks that new builds may lack. "Older properties typically have larger erfs and gardens, giving growing or larger families more space, better outdoor living, and greater privacy from neighbours," says Moore.
For buyers looking for something with charm, older homes deliver. "They tend to have quirky structures and ornate features that can be incredibly attractive," Moore notes. And from a construction perspective, these homes can hold up well. "Older homes often boast solid construction. The materials used at the time were created to last and better withstand wear and tear. Even being older, these homes may need fewer alterations for liveability," he says.
Factors to keep in mind with old houses
Older homes can be packed with charm, but they also come with a few extra things to check before you fall in love:
- Location still matters most: As the saying goes, "location, location, location!" It's often better to buy a fixer-upper in a great neighbourhood than a perfect home in a not-so-great area.
- Check the age (and history): Homes built before 1990 are considered older, and if the home is over 60 years old, you may need a permit from the SA Heritage Resource Agency or your local municipal office for renovations. Knowing this upfront helps avoid surprises down the line.
- Look at the bones of the house: Check for signs of structural issues like cracks in walls, uneven floors, rising damp, poor drainage, or sagging roofs. Also, inspect the plumbing, electrical systems, and roof for leaks or outdated installations.
- Watch for pests: Keep an eye out for potential pest infestations, which can add to your repair costs.
- Consider the quality of finishes: Some original features may be beautiful, but replacing or repairing them (like old roof tiles) can be tricky if they're no longer available.
- Think about insurance: Older homes often cost more to insure because of the higher risk tied to ageing plumbing, wiring, and other systems. It's a good idea to check how the home's age could impact your insurance before you commit.
Old home, new beginning with the right agency
Buying an older home is an exciting journey - one that's best taken with a trusted partner by your side. Choosing an agency that has a respected background ensures you have the right guidance, expertise, and local knowledge to navigate the unique challenges and opportunities that come with older properties. As Moore says, "Since 1986, Kellaprince Properties has established a proven track record, operational excellence, and an unwavering focus on our clients' needs. You can move forward with confidence, knowing you're supported every step of the way. To get started, view our properties for sale and reach out to our team for more help."
Author: Kellaprince Properties