The Pros and Cons of Buying a Period Property

Houses built before 1914 are usually termed 'period homes' and can be found the length and breath of the UK; from farmhouses to castles and from village cottages to mansions. When buying a period property, you aren't just buying a home, but a piece of history, part of Britain's cultural heritage, and a unique building that embodies the architects' and builders' skills of times gone by.

There are a variety of advantages and disadvantages to owning a period home; we've put together a list of some of the most significant:

Pros

• Interesting architectural features (exposed beams, beautiful plasterwork, inglenook fireplaces)
• Individuality and exclusivity
• More space than new properties with higher ceilings and larger rooms
• Good capital growth (prices rise faster than a new home)
• History, charm and character
• A larger garden or plot of land than modern houses
• May have outbuildings that can be converted
• May have mature garden with fully-grown trees
• Easier to sell than a new home ('rarity' value)

Cons

• May have out-of-date bathrooms and kitchens
• May not have central heating, adequate insulation or double glazing
• May need restoration, renovation or decoration
• You may have difficulty in obtaining a mortgage if the property needs major structural work
• May be subject to large repair and maintenance bills
• There may be hidden defects such as dry rot, rising damp, woodworm or other infestations
• May have high running costs
• May have restrictive covenants or rights of way
• If it is listed, there are severe restrictions imposed on any alterations and improvements you may want to carry out