With a wide variety of new housing available, including detached, semi-detached and town homes, as well as, more urban condominiums and stacked townhouses, Markham has been a mecca for new home buyers for decades.
However, what many buyers of older homes are often surprised to learn about is the wide variety of resale housing that Markham has to offer as well. From century homes in Unionville and Markham Village, to post-war bungalows and modern classics of the 1960s and 1970s, there is an abundance of top quality older homes offered throughout the city.
Those who are in the market for resale homes are usually enticed by established, walkable neighborhoods, mature trees and gardens, and homes that evoke another era of architectural design.
With this is mind, remember to not let the nostalgia and location of older homes distract you from taking into consideration the “characteristics” of older homes that may make your dream purchase a little less dreamy. The following tips are encouraged to better assist you in finding an older home that is most beneficial to your preferences.
- Be Prepared for Some Upkeep – This is not to say that older homes are all in need of repair. However, they are significantly older, which means they will need some maintenance sooner than a newer home would. Even if the home has been renovated, the underlying structure is most likely still the original foundation. If you are prepared and willing to give such a home a little more TLC than a newer home, you will acquire far more satisfaction from your resale home.
- Beware of Lower Prices – There are a lot of reasons older homes may sell for less than similarly-sized newer homes. Reasons for this may include the location of the home, and the existing higher demand for new housing. Keep in mind, if a price seems too good to be true, be sure to reconsider the offer before making the deal. Homeowners who do not want to pay for repairs will put the home on the market at a reduced price. It still could be a great deal; nevertheless, you should be aware of exactly what work may be needed and add that to your overall cost of ownership.
- Get a Home Inspection – You should get an inspection done on any house you plan to buy, but the importance of inspecting a resale home goes up with its age. Some issues that an inspection might uncover are not the same, or as straight-forward, as those that might come up following an inspection of a newer home.
An older home can be a great investment. Even “fixer-uppers” are considered to be an excellent purchase for the right buyer. As with all home buying, the more you learn about buying and owning older homes, the higher the chances of you making the right choice and avoiding any unwanted revelations.