With rising costs in real estate and renovation, antique homes are losing appeal among first-time buyers. Those interested in a historic Colonial, for instance, may be deterred by issues such as a crumbling foundation and outdated electrical systems, which can be costly to fix. Real estate experts suggest that while these homes have charm, they require significant maintenance that busy professionals may not have the time or budget to manage. Data shows antique homes typically sell slower compared to newer properties, reflecting changing priorities of buyers in today's market.
"Antiques aren't for the faint of heart," said Pamela Bathen, a broker associate with Oak Realty in Ashland. "They're not 'DIY grab some paint' type homes."
"Antique homes clearly need to be puttered with, because they're 200 years old," Bathen said. "They can be hard to sell, and I get it. If you're two software engineers who leave for work at 6:30 in the morning and get home at 5:30 at night, you don't want to putter with your house."
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