Living in a quirky old home is a dream many Brits have, as new research finds that demand for period homes is up by 60%, while search for new builds are down by 47%.
But taking on a house that may have been built more than 100 years ago can come with some downsides.
You could uncover hidden issues, or drain your savings giving it a makeover.
Metro asked Phil Spencer, host of Location, Location, Location and founder of property advice website Move iQ, for his tips for buyers who have their heart set on that quaint cottage or Victorian townhouse.
He shared his thoughts for those thinking of taking the leap — and revealed one lesser-known obstacle you may not have considered.
The downsides of buying a period property
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Conservation areas and red tape
Prospective buyers may not realise that period homes can be listed as part of Conservation Areas — zones of special architectural or historic interest.
Phil says: ‘Councils do this to preserve the area’s unique character, and it’s what makes homes there so desirable.
‘But the flip side is that there may be restrictions on minor building works that you wouldn’t have elsewhere, such as altering windows, doors and chimneys, or adding extensions.’
And, while Conservation Areas protect a neighbourhood, a home being listed (either Grade I or Grade II) means that the building itself is protected too.
Those inside a Conservation Area will usually only have restrictions on the outside of their home, whereas listed properties will have extra red tape on the work you can do on the inside too.
This could potentially include things like being unable to remove a fireplace, install a new kitchens and in some cases, you may not even be able to redecorate if it involves changing unique or original wall finishings.
It’s also possible for a home to come under both protections, which would mean that even stricter rules apply both inside and out.
‘You might not be able to install double glazing or make other efficiency improvements that would normally be allowed,’ adds Phil.
Higher energy bills
Even the best period properties are not well-insulated, which usually means one thing: higher energy bills.
Phil explains: ‘All properties listed for sale must have an Energy Performance Certificate (EPC) which shows their energy efficiency.
‘The rating scale runs from A to G, and the average in England and Wales is D.
‘You can add insulation to period properties, but this can be costly, and there is a limit to how energy efficient you can make them.
‘So it’s worth bearing energy consumption in mind, especially as energy prices are expected to rise sharply when the next Energy Price Cap comes into force in July.’
Higher maintenance costs
Considering their older character, period properties need more TLC, whether you’re taking care of a leaky tap here or a drafty window there.
‘Often it’s a case of keeping on top of things to ensure they don’t become a problem, such as bleeding the radiators, sealing any gaps around windows, showers or baths, and getting the chimney swept,’ Phil says.
And when a home does need more significant repairs, these can quickly rack up, particularly if they need specialist materials or tradespeople.
According to 2024 figures from Zoopla, the average period property accumulates costs of £700 per month — and the most common things owners shell out for include touches to roofing, brickwork, and walls.
wed in a regular property,’ Phil says.
But it’s not all bad…
Value for money
Period homes can be good value for money, particularly if you’ve snapped one up when it’s looking a little bit tired.
‘For many years, small period properties (such as Victorian terraced houses) were a popular and affordable choice for first-time buyers,’ Phil explains.
‘While they typically have smaller windows than a modern home and may lack an upstairs loo, they can grow in value nicely with a bit of modernisation.’
Quirky features
Another green tick is that period properties can feel more characterful than modern homes, and are often filled with uniquely quirky features.
‘While not all of them get the balance between old and new right, the perfect period property will retain its historic charm while also being warm and with modern kitchen and bathroom features,’ he shares.
One final reason if you’re dithering about investing?
Phil concludes: ‘The best period properties combine charm with the welcoming feeling that comes from many years of being loved and lived in.’
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