Shelly Eshelman Realty
Shelly Eshelman, Shelly Eshelman RealtyPhone: (888) 805-8462
Email: [email protected]

Should You Invest in an Older Home?

by Shelly Eshelman 09/22/2019

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

Shelly Eshelman

My sole purpose is not just to have clients. My life’s purpose and mission is to create more Homes for Special Needs Adults, the disabled and senior citizens.

Having many years in Real Estate as well as lending experience allows me to understand all the aspects of the transaction, to share my knowledge with you. 

I am third generation Real Estate Broker Entrepreneur and helped my grandmother drop flyers door to door as a little girl for her business. She taught me so much, which molded me to become the realtor and person I am today.

Scope of work:

Buyer’s looking to buy and seller’s looking to sell. 

All areas of Southern California. My areas of focus: 

Luxury Home Sales

Residential Homes Sales.

Turn Around Sales 

Mission to be Sold Fast homes. 

I work with all different types of situations. Divorce, Probate, trusts,

REO’s, fix and Flips and more.

Need someone to manage the properties/homes? I offer 

Property Management Services for both residential and commercial.

Additional services and Business areas:

Rental properties and Residential Property Management Services to help renters find homes to move into and landlords to find great tenants. 

Concierge Service For tenants "Free of Charge for tenants"

●Commercial Sales and Property Management

●Consulting, selling, startups for:

●Adults with Mental Disabilities (ARF’s)

● Residential Care Facilities (RCFE’s)

● Skilled Nursing Homes (SNIF’s)

●Urgent Care setups/Exiting,

●Radiography-MRI & CT

Education/Certifications:

● MBA in Business and en-thesis in Project Management, ● BA in Business

● AA in Real Estate

● Certification in Real Estate ● DSP I & DSP II ● CPI Training ● Admin Cert’s for RCFE & ARF

Published Author of the following books: 

1. 27 Mistakes First-Time Home Buyers Make And How To Avoid Them

2. How To Sell Your Homes For More Money

3. How To Sell Homes Fast For Top Dollar