Buying agent Jonathan Hopper from Garrington discusses the factors to consider when comparing modern properties with their older counterparts

With rising energy costs and the price of certain building materials reportedly up by as much as 80 per cent, homebuyers could be forgiven for questioning whether it’s sensible to buy an older house, which can be less energy efficient, have greater maintenance responsibilities, and will cost more to improve.

Should buyers avoid period properties? Is it wise to buy modern homes instead? Not necessarily. Here are a couple of points you might want to consider, among other things.

Should you buy a modern home?

It’s true that a well-built new home accompanied by the appropriate building guarantees will typically cost less to maintain and run, particularly in the early years after construction. However, the quality of construction techniques and materials used today is not always equal to those used hundreds of years ago, and some newer properties might not stand the test of time. This is why it’s incredibly important when buying a modern property not to be lulled into believing that a basic, less-detailed survey will suffice, even when build guarantees are in place.

A reputable local surveyor conducting a detailed RICS survey will identify any building ‘snags’, compare the plans with the built property to note if any items are outstanding or differ from what has been approved, and talk you through any longer-term implications of living in such a property. It is also wise to request a market valuation from your surveyor, whether or not the purchase is utilising mortgage finance.

If you prefer period properties

For many people the idea of living in a modern property, however prudent this may appear, is unappealing. The good news is that a period property that has been regularly and meticulously maintained over the years, or one that has been renovated to a high standard, does not have to cost the earth to keep warm and dry.

The Energy Performance Certificate (EPC) is a good place to start when considering running costs and maintenance. In the instance of a listed building where an EPC isn’t required, it’s sensible to ask the selling agent to provide information of current running costs. Likewise, when viewing a property, look out for plug-in heaters, check whether the heating is on high during the viewing, and note if there are signs of condensation on the windowpanes, as these may give some clues about what it would be like to live there.

Guidance and assurance when buying a home

Both modern and period homes have specific elements to look out for when seriously considering moving forward with a purchase. Engaging the help of a professional property finder can help homebuyers assess all the variables and choose a property that delivers on both a budgetary and personal basis.

If you are considering moving home and would like more information about how to better navigate your local property market, contact Garrington Property Finders.