Here’s what you should know when buying an Old Home.
Everybody loves a home with charm and character, lived-in with a bit of history. Otherwise known as Old Homes. But buying an old home can also become a nightmare to your wallet. While older homes may need some repairs they are usually built better; built to withstand the test of time. The cost of repairs and potential replacements will make older homes less desirable, but more affordable. With a little love, time and some money that old charmer could be your dream home. Here are a few things you should know before taking the leap to buy an older home.
Inspections are very important. So important, you should probably get two inspections done. Older homes may have a lot of issues for one inspector to catch it all. From structural issues to roof problems to termites or bug infestation, they may catch some major issues, but there may be some costly problems overlooked. It may seem like a lot of money at first, but it will be money well spent in the long run. It;s best to know what you are getting yourself into before you go down that road (read more).
Be clear on what HVAC issues the home may have. Older homes almost always have Heating, Ventilating and Air Conditioning issues. They usually have old heating systems or inefficient plumbing that can be in such bad shape that they may not comply with modern building codes (read more). Insulation, or lack there of, can also be problem in older homes. Most of these homes were built when it was cheaper to heat or cool homes and have very little or no insulation. Inefficient windows also contribute to the problem and can quickly deplete your savings (read more). These can be costly to replace or upgrade, but again, in the long run they are worth the money.
Older homes in older neighborhoods usually have beautiful, great big trees. It’s part what of makes the home so desirable. However, these create yet another potential issue. Roots. Tree roots to be precise. Older, taller trees often have long, strong roots that could grow toward the foundations and plumbing systems beneath the home. Pipe replacement or foundation work can be pretty costly (read more).
But once you’ve learned all there is to know about the home, there are some great reasons to own an older home. They are usually built closer to town so you can walk to shops and restaurants and local amenities. Because the homes in older neighborhoods were built at different times you usually have a nice mix of home structures. Eclectic neighborhoods evolve as a result of people buying at different times as well (read more). It’s all worth it for the benefits and character old homes have to offer.