Important Considerations When Purchasing an Older Home

When it comes to finding the perfect dream home, buyers obviously vary in what they’re looking for, so it should come as no surprise that while some people prefer newer turn-key houses, others prefer properties with a bit more age. While older homes are often filled with an abundance of character and charm, making the decision to purchase one should be done with an understanding of the types of work it will most likely require, as well as the unseen problems that may occur down the road.

Therefore, if you’re someone who likes the idea of owning a house with a few years under its belt, there are five major considerations which should be taken into account.

1.) NOT ALL OLDER HOUSES ARE THE SAME: While many people feel that today’s newly constructed homes lack personality, there’s still something to be said for what we’ve learned about effective construction over the years. Generally speaking, homes erected before 1900 tend to be more poorly built than homes constructed in the 20th century, especially since many of smaller Victorian homes (pre-1900) were often built on posts with loose rock/brick and mortar foundations. Therefore, since settling issues are quite common, newer technologies have allowed for the levelling and repair of these types of foundations; however, it’s important to understand whether you’re dealing with a home whose structural problems have already been addressed, or whether it’s something you’ll need to consider on your own.

2.) OLDER HOMES OFTEN LACK INSULATION: While it may come as a bit of a surprise, it wasn’t common to insulate homes until the late teens and early twenties—at which point they simply added paper pulp to the exterior walls and attics—so if you’re planning on doing a remodel of your newly purchased home, you’ll want to make sure that, with any wiring and plumbing update, comes new insulation. Still, not everyone wants to put in a full remodel when they purchase a home, so if you’re not looking to go all out, you might consider adding insulation underneath the first floor and to the attic.

3.) CONSIDER THE HOME’S MECHANICAL SYSTEMS: In truth, older mechanical systems aren’t really a problem if they’re functioning properly, but an inspection may pinpoint ailing areas in need of some serious attention. Therefore, when deciding upon your final budget, it’s often wise to factor in the cost of plumbing and electrical/heating system upgrades. If upgrades aren’t currently needed, then it’s still smart to make sure you can afford to repair or replace them when it becomes necessary.

4.) LEAVE THE ORIGINAL DOORS AND WINDOWS ALONE: Yes, construction has come a long way; however, older homes have doors and windows that can be just as energy efficient and long-lasting than their vinyl counterparts. Instead of moving in and feeling like you need to spend a lot of money to replace things right away, you’ll protect your wallet by repairing the original structures and installing storm windows.

5.) HOW MANY LAYERS ARE ON THE ROOF?: When it comes to updating older roofs, it’s important to be aware of the fact that many dated homes were constructed with wood shingles that were simply covered with new layers as the years have gone on; however, what many potential homeowners may not realize is that roofs with three or more layers can no longer be re-shingled. Therefore, in lieu of dealing with the possibility of having your entire roof torn off so an underlayment of plywood can be installed with new materials, finding out how many layers are no the roof of a potential home is important.

CONCLUSION

In the end, making the decision to purchase an older home is something that needs to be done with a solid understanding of the potential drawbacks, as well as the benefits. While having a knowledgeable Realtor and inspector on your side is important in any real estate transaction, it’s even more essential when considering an older property.

If you’re thinking about the possibility of moving into a more mature home, I’d love to speak with you about your options so we can work together to find the perfect fit. Please call me.

Pam Evans | Hello Pam Evans Real Estate | www.HelloPamEvans.com | 678-778-6551