BY GORDON JACKSON

Like all properties on the Golden Isles, older homes are a hot asset in a market that has seen strong sales over the past year.

Sea Palms Coastal Realty realtor Brad Davis said he categorizes older homes in two ways.

"Before 1985, there were no flood insurance rating cards in our area," he said. "So anything before 1985 could have a problem with floods and more expensive flood insurance because they probably weren't built high enough above the ground if the house is in a flood area."

However, having an older home has many advantages.

"Older homes usually offer larger lots," he said. "As the island was opened up and land became scarcer, the size of the property became smaller and smaller. Most new homes stand on between 0.15 and 0.25 acres, while many older homes stand on half an acre or larger lot. Older houses often have large bones too. As they say, don't do them like they used to. "

As with all other types of apartments, the number of old buildings is very low. There are currently 291 active records across Glynn County, he said.

"A few years ago St. Simons had 400-500 active listings at any one time," he said.

Older homes may require some work, though Davis said it doesn't always. And if they do, then often to do justice to the tastes of the new owners.

"Most of the older houses in our area are pretty well maintained, but some need work," he said. "Some buyers do not like the furnishings of the house and they will renovate it after buying it. And then other older houses have been completely renovated and look better than many new houses. "

There isn't a specific age group that buys older homes, he said.

"It seems that the younger buyers are more willing to take on a renovation project, so they are more likely to buy an older home that will require some work," he said.

Real estate agent Lynn Kennedy, also with Sea Palms Coastal Realty, said the Village area on St. Simons Island is one of the most sought after by home shoppers in the Golden Isles. The older houses sold on small plots are being renovated and topped up by new owners.

"It's a fabulous place," she said.

On the mainland, there are some great older homes at Windsor Park and downtown, especially near one of the city's signature squares.

"It's a desirable place," said Kennedy. "People love it. There are people who search specifically in this area. "

Older shoppers appreciate the craftsmanship of older homes, while younger ones have learned enough from watching home improvement shows to be inspired to live in a home that requires a little work.

"They want to move in and slowly renovate," she said.

One of the most important things to do before buying an older home is a thorough inspection to see if there are any problems. Older home buyers also need to make sure the electrical and plumbing systems are up to standard, or plan to eventually pay for the work.

"If someone buys an older home, get the inspection done," she said. "They will tell you everything you need to know."

Davis said most buyers get an inspection report that tells buyers the age of the HVAC, water heater, appliances, and other items. The inspection will also reveal lead pipes, aluminum cables, and any other item that could become a problem in the future.

"New homes come with a one-year home warranty from the builder, but I've seen buyers renovate a bathroom in two to three years due to a leaky shower tray," said Davis. "So buying a new one is not guaranteed to be problem-free in the long run."

However, buyers of older homes can expect some work in the future.

"It shouldn't be a problem for five to ten years, but once the 10-year mark is reached, they'll replace AC units, water heaters, and so on," said Davis. "If the house is well built and cared for, it should last for many, many years."

Real estate agent Joe Wills of Berkshire Hathaway HomeServices Hodnett Cooper Real Estate said the older home inventory is worth less than two months.

"In our market, the average age of all homes sold in the past decade is 26," he said. "The last four years have been a bit older on average, but the running average is still 26."

source https://seapointrealtors.com/2021/07/30/older-homes-in-high-demand/

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