As a real estate expert, I know that finding the perfect place to call home involves considering many factors. Location, price, and amenities are just a few of the things that potential homeowners look for. However, one aspect that is often overlooked is the age of homes in a particular area. In this article, I will provide a closer look at the average age of homes in Derry, New Hampshire and what it means for the housing market in this charming town.
The History of Derry, New Hampshire
Derry, New Hampshire is a small town located in Rockingham County.It was first settled in 1719 and was originally known as Nutfield. The town was officially incorporated in 1827 and was renamed Derry after the city in Ireland. Derry has a rich history and has been home to many notable figures, including astronaut Alan Shepard and poet Robert Frost.Over the years, Derry has seen significant growth and development. In the early 1900s, the town became known for its thriving shoe industry.
Today, Derry is a bustling community with a population of over 33,000 people.
The Housing Market in Derry
As with many towns in New Hampshire, Derry has a mix of both historic and modern homes. The town offers a variety of housing options, from single-family homes to apartments and condos. But what is the average age of these homes?According to data from the United States Census Bureau, the median year that homes were built in Derry is 1975. This means that half of the homes in Derry were built before 1975 and half were built after. This puts the average age of homes in Derry at around 46 years old. While this may seem relatively old, it is important to note that Derry has a mix of both historic and newer homes.Some of the oldest homes in the town date back to the 1700s, while there are also many homes that were built in the 2000s. This diversity in age adds to the charm and character of Derry.
The Impact of Age on Home Prices
One of the main factors that can affect home prices is the age of the home. In general, newer homes tend to be more expensive than older homes. This is because newer homes often have modern amenities and features that older homes may not have. In Derry, the median home value is $287,000, which is slightly higher than the national average.However, this number can vary depending on the age of the home. According to Zillow, the median home value for homes built in the 2000s is $350,000, while homes built in the 1970s have a median value of $270,000. While newer homes may come with a higher price tag, they also tend to have lower maintenance costs. Older homes may require more upkeep and repairs, which can add up over time. This is something that potential homeowners should keep in mind when considering the age of a home.
The Benefits of Buying an Older Home
While newer homes may have their perks, there are also many benefits to buying an older home in Derry.One of the main advantages is the character and charm that comes with an older home. Many historic homes in Derry have unique architectural features and details that cannot be found in newer homes. Another benefit is the potential for lower property taxes. In New Hampshire, property taxes are based on the assessed value of a home. Older homes may have a lower assessed value, which can result in lower property taxes for homeowners. Additionally, older homes may be located in more established neighborhoods with mature trees and landscaping.
This can add to the overall appeal of the home and the community.
The Future of Housing in Derry
As with any town, the housing market in Derry is constantly evolving. While the average age of homes in Derry is currently around 46 years old, this number is likely to change in the coming years. With new developments and construction projects, we can expect to see an increase in the number of newer homes in Derry. However, it is important to note that Derry takes great pride in its history and heritage. The town has strict regulations in place to preserve its historic buildings and landmarks.This means that while there may be new developments, there will always be a mix of old and new homes in Derry.
