When it comes to buying a home, many potential buyers set their sights on a brand new build. But there are also buyers that prefer to buy a home with a little more history—and if you’re thinking about buying an older home, there are a ton of benefits you’ll get from your home purchase.

So what, exactly, are those benefits? A recent article from realtor.com outlined some of the reasons buyers should consider buying older properties, including:

  • Older homes are more affordable than newer homes. If you’re looking for a great home at an affordable price, you’re more likely to find a deal on an older home. According to the article, new construction homes can cost, on average, anywhere between 10 percent to 20 percent more than older homes that have been updated.
  • Older homes have more character. In recent years, many new construction projects have taken a “cookie cutter” approach to building homes—and the end result has been a lot of homes that look and feel the same. Older homes often have more unique features and layouts, giving them more character.
  • Older homes often have larger lot sizes. Most homes used to be built on larger lots—which means if you buy an older home, you’re likely to get more land than if you went with new construction.

The Takeaway:

When it comes to buying a home, there’s no “perfect” scenario; every type of home has pros and cons—but if you’re thinking about buying an older home, there’s definitely plenty of pros to consider.