Property Property News

Period property more than double in upkeep

  • May 23, 2024
  • 2 min read
Period property more than double in upkeep

A period property, one built before 1919, is filled with unique character, including a fireplace or ornate cornices. But these can come at a price. With age comes maintenance and research from Zoopla has found that upkeep for a period property can cost an average of £19,213 to maintain and repair since the beginning of 2022.

This is nearly two and a half times the cost to maintain a non-period home in the same time period. That works out to £8,496. In total, that represents a monthly premium of £700 since 2022. Given the current average mortgage cost of £950, that is a significant proportion of the cost.

Given that the average time spent in a period home can be almost 17 years, owners can fork out a staggering £68,000 in upkeep.

So what are the most common issues with period homes? Mostly, the maintenance concerns fixing external elements on the home. This can include roofing, brickwork, garden maintenance, external walls, and leaning chimneys. Homeowners have spent an estimated £12,865 on these repairs since 2022 while homeowners of newer houses have only spent £4,314 on them.

When it comes to the interior, homeowners spend an additional £6,348 to cover various repairs including flooring, bathrooms, electricals, removing mould, upgrading insulation, and fixing wiring and electrics. For newer homes, homeowners in the same time period have spent £4,182 on repairs and for those built after 2020, this comes out to just £2,915.

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