Have You Considered Investing in an Older Home?

by Karen Rodgers 06/02/2019

Older homes can be a great investment opportunity. A solid home in a revitalizing but established neighborhood is perfect for flipping, renting out for additional income or first-time homebuyers. There are a variety of differences between buying an older home that may require renovation and newer homes that are move-in ready.

Benefits of Older Neighborhoods

Since cities spread outward, many older neighborhoods are closer to city centers. That means shopping, local businesses, nightlife, parks and more within easy access. Longer established areas tend to have more character including larger trees with shade, sidewalks and even bike lanes. Older architecture has a distinct charm, and if it’s genuinely a designated historic landmark neighborhood, you may be required to keep some or all the classic details of your home, whether you want them or not. Some older neighborhoods boast back alleys that give you rear garage access and may even allow alley trash pickup.

Newer neighborhoods and construction tend to be further out, especially brand-new construction, which means less access to public transportation and greater distances to shopping and local businesses. Some newer neighborhoods also are built with higher square footage versus open space, so you could be passing on a larger yard in favor of a larger home.

Tax-Saving Opportunities

State, local and federal governments offer a variety of tax breaks to preserve historic homes and stabilize or accelerate revitalization. The most common type is a tax abatement. Also called a tax break, these are used by local cities to prompt people to move into these neighborhoods allowing buyers who otherwise couldn't afford the property or the renovations required on an older home to move in.

While your property taxes may initially seem a bit higher, they should be more stable than new-construction neighborhoods which can include widely varying assessments as new infrastructure is needed.

Does an older or historic neighborhood sound like the right fit for you? Your real estate agent can help you find the best property for your needs.

About the Author
Author

Karen Rodgers

Real Estate Agent Specializing in Residential Sales


Born and raised in Davis, Karen is a California girl from her heart! Karen has been a Solano County resident since 1989, and has spent 14 years in Real Estate Sales. During her first year in Real Estate, Karen won the Rookie of the Year award- based on performance and production. She has continued to serve her clients with superior service ever since.  

Professionally, Karen currently manages her own business, and owned and managed a thriving local business prior to selling it 16 years ago. She has integrity, is a great communicator, very detail oriented and has vast knowledge of the Solano County area, its cities and surrounding communities.  Karen succeeds in building a reputation for client satisfaction and commitment!  There is no substitute for hard work and experience.

As a mother of 3 children, Karen is very involved and understands the importance of schools, parks, and involvement in the community.  Karen is very involved in her church, Harvest Community Church, and enjoys spending time teaching youth. Karen loves spending time at the ocean, Bodega Bay being one of her favorite places to frequent.