What property choice would you make should there be a crash?

gremlin

Im looking for some opinions on a house move I'm planning.

The situation is that we're looking to upgrade. Currently in a smallish three bed semi and we need more space. We're looking at either a 4 bed semi/ detatched about 5 years old on an estate with a good reputation - OR - a 3/4 bed 1930's semi. Which style would you go for and why?

All properties are in good areas

My dilemma is that although this house will be our home (and thats the real reason for the move) I'm looking at what house will be the better investment?

I think that should there be a crash or even a downturn the newer built houses will be more affected. I have no basis for that thought, except that theres just such a glut of new houses being built in the North where we live that I think demand will be outstripped by supply.

Having said that, the more modern property would give us many more features. ie. en suite, downstairs wc etc.

What is your view on this? What would you do?

roosterbean

Hi there, we're just in the process of buying a 1930s semi-detached house. We prefer it over new properties as the garden is much bigger, there is scope to extend to the side and back without being too near the neighbour's property, and is situated in a lovely quiet cul-de-sac.:j

I also agree with you that I think it will hold its value better - although I have no basis for thinking this...

Doozergirl

In terms of resale I'd pick the older house. People know what they are getting and period style is very popular.

You can always remodel an older house. If it's a standard 1930s semi, you can fit a loo under the stairs, no problem.

gremlin

roosterbean wrote: »

I also agree with you that I think it will hold its value better - although I have no basis for thinking this...

:rotfl: Thanks rooster. I know what you mean its just a gut feeling I have and also the fact that there are literally thousands of new houses built or being built in the surrounding areas.

Doozergirl - I think I would prefer the older style but my DH just has his heart set on moving in with nothing to do - lazy so and so. Its really because we've spent so much time and money renovating the property we're in.

I still would like some more responses (for or against) possibly so I've got more ammo to use to get my own way :T

Thanks

Jane x

ollyshaw

Older house! They will hold value better, also far better made.

Olly

tanith

I agree with everyone else older houses are usually better built , with more land and bigger rooms... also they just look so much more robust than most newbuilds....

MadMonkey

We have found that all new builds we have looked at are no use to use at all as the majority here don't have driveways they have "allocated parking" - which basically means 1 or 2 parking spaces per house usually at the back somewhere.

As hubby is self-employed and has a transit van we could never consider one of these as the van would be too far from the house for security reasons and also if there is only 1 space one of use would not be able to park at all !!

Older houses tend to eiter have room for more than 1 car anyway or scope to extend the drive.

So new builds are never going to be suitable for families with more than 1 car.

jackomdj

I am probably the only person on here who will disagree.....& only because we had a bad experience.

Our previous house had concrete cancer - they brought in the compulsary test a few months after we bought it which made it non mortgagable & very hard to sell, we lost a lot of money on it & we were limited on what we could buy as we were moving out of the area & ended up taking out a second mortgage for a time. Age & knowledge are a great thing & if it happened now we would have kept the house....but we will always go for new (ish) where there are less possible problems (just read my last sentance & I am sure lots of people will come back & say you can have lots of problems with new houses!)

Nikcy

auntie_brenda

Older. If there are lots of new houses the only way to sell a new one is to price v competitively (ok, some would say realistically, but it amounts to the same). The problem is that so many streets are so jam packed that buyers will look at one street, then dismiss all new ones. If your street is more open the buyers probably won't even realise this.

Sorry hubby .

newish2this

New houses = modern now, but take a look at some of the "new houses" built 15-20 years ago........dated, unfashionable designs = no-one wants them now!!! Also, developers are not generous on space now i.e why sell a house with a nice large garden if another house can be built and more money can be made??!!:rolleyes:

Old houses = most people like 'original feature' (even if they are not original), they tend to be more spacious as developers weren't so land consious 50+ years ago, as mentioned earlier...can usually be extended and easily modernised as they were built TO LAST!!!;)

Alan_M_2

1930's were about the best built houses this century (generalisation - but as a rule of thumb it's correct).


They were only bettered by Georgian properties in my opinion, they really knew how to build places back then, not the ticky tacky rubbish we have now.


And whoever developed artex should have been shut in the tower.