When shopping for a home in Bend, Oregon, one of the key factors to consider is its age. While some buyers are drawn to the charm and character of older homes, others prefer newer constructions' modern amenities and energy efficiency. But how does a home's age truly affect its market value? Whether you’re buying, selling, or investing, understanding the correlation between home age and market value can help you make informed real estate decisions.
The Bend, Oregon Real Estate Landscape
Bend’s real estate market is unique, blending historic charm with contemporary development. The city offers everything from early 20th-century Craftsman homes to modern luxury estates. Factors such as location, condition, and neighborhood trends all play a role in home value, but age remains a defining variable.
The question is: Does older necessarily mean less valuable? Or does historical significance and classic craftsmanship outweigh the perks of new construction? The answer isn’t one-size-fits-all—it depends on a variety of factors.
Advantages and Challenges of Older Homes in Bend
The Value of Historic Charm and Craftsmanship
Bend has several historic neighborhoods, including Old Bend and Drake Park, where homes built in the early 1900s remain highly desirable. These homes often feature unique architectural details, such as handcrafted woodwork, built-in cabinetry, and intricate moldings, which are rarely found in modern constructions.
Older homes in Bend may also be located in prime, well-established neighborhoods close to downtown, parks, and scenic river trails. This location advantage can significantly boost their market value.
Potential Downsides of Older Homes
Despite their charm, older homes often come with maintenance challenges. Common concerns include outdated electrical systems, plumbing issues, or aging roofs and foundations. Many older homes also lack energy-efficient features, leading to higher utility costs. Additionally, if significant renovations haven’t been made, buyers may need to budget for upgrades.
A thorough home inspection is critical for buyers considering an older home. Investing in necessary repairs and renovations can preserve the home's value and improve its longevity in the market.
What Newer Homes in Bend Bring to the Table
Modern Features and Efficiency
Newer homes, particularly those built within the last 10 to 20 years, offer contemporary designs, open floor plans, and energy-efficient technology. Features like smart home integration, solar panels, and high-performance insulation can reduce long-term costs and increase property value.
Bend has seen a surge in new home developments in areas such as Tetherow, Northwest Crossing, and The Bridges, where modern aesthetics meet energy-conscious construction. These homes often attract buyers who prioritize sustainability and convenience.
The Longevity Factor
Newer homes typically require less maintenance, which can be appealing for buyers who want a move-in-ready property without worrying about major repairs. Additionally, since many new homes come with warranties for appliances and structural elements, they provide added peace of mind for homeowners.
How Home Age Affects Resale Value in Bend
Historic Homes Hold Their Value
Well-maintained historic homes in desirable locations tend to hold their value over time, particularly in areas where preservation and community pride play a role. Buyers who appreciate unique character and craftsmanship are often willing to pay a premium for homes that have been properly restored and updated.
Mid-Century Homes May Require Strategic Updates
Homes built in the 1950s-1980s are common in Bend, particularly in neighborhoods like Orchard District and Southeast Bend. While these homes may not have the historic appeal of older houses, they often feature solid construction and larger lot sizes. Updating kitchens, bathrooms, and energy systems can increase resale value significantly.
New Homes Maintain Value—But Can Depreciate Faster in Some Cases
Although new homes tend to have strong initial market value, they can depreciate faster than older homes in the first few years—similar to the depreciation of a new car. However, location, builder reputation, and market trends will ultimately determine whether they appreciate in value over time.
Key Takeaways for Buyers and Sellers in Bend
For Buyers:
- If you love historic charm, be prepared for maintenance and possible renovations.
- Newer homes offer convenience, lower maintenance, and modern features.
- Location and overall condition should weigh heavily in your decision, regardless of age.
For Sellers:
- Properly maintained older homes can command high market value, especially in historic districts.
- Updating mid-century homes with modern features can enhance resale appeal.
- Highlighting energy efficiency and smart features can attract buyers if selling a newer home.
Work with Christy Evans to Navigate Bend’s Real Estate Market
Whether you’re considering an older home with character or a modern build with cutting-edge technology,
Christy Evans, Bend Real Estate Agent & Realtor, has the expertise to guide you. With a deep understanding of Bend’s diverse housing market, Christy can help you find the perfect home or maximize your property's value when selling.
Thinking about buying or selling in Bend, OR?
Contact Christy Evans today to explore your best real estate options!
