If you’re considering buying an older home, there are a few things you’ll want to keep in mind. Most people like the idea of owning a home that’s full of history, character, and charm. But there are also some potential drawbacks to older homes that you’ll want to be aware of before making your purchase.
Here are eight things to think about when buying an old house:
1. Check for Foundation Issues
An important thing to look for when buying an old house is any damage or settling of the foundation. This can be a costly repair to fix and can cause major problems down the road if not dealt with.
2. Look for Water Damage
Water damage is another common issue in older homes. Check for signs of water damage in the basement, crawl spaces, and attics. Be on the lookout for any musty smells, which could be indicative of mold or mildew growth.
3. Inspect the Roof
The roof is another important area to inspect when buying an old house. Check for missing or damaged shingles and make sure the gutters are in good condition. These are all things that will need to be repaired or replaced at some point and can be costly. Even if you know of top roofers that can help you, it’s important to know what works needs to be done. Then you can budget accordingly.
4. Be Prepared to Update the Electrical System
Older homes often have outdated electrical systems that need to be updated. This can be a major expense, so you’ll want to factor it into your budget if you’re considering buying an old house. Always have a professional electrician inspect the electrical system before making an offer on an older home.
5. Be Prepared to Update the Plumbing
Older homes also often have outdated plumbing that will need to be updated. This is another major expense that you’ll want to factor into your budget when considering buying an old house. Always have a professional plumber inspect the plumbing system before making an offer on an older home.
6. Look for Signs of Pest Infestation
Pest infestation is another common issue in older homes. Be on the lookout for signs of termites, ants, mice, and other pests. These are all expensive repairs that you’ll want to factor into your budget if you’re considering buying an old house. Always have a professional pest inspector check for any signs of pests before making an offer on an older home.
7. Know That Older Homes Often Have Asbestos
Older homes often have asbestos in them, which can be dangerous if it’s not properly dealt with. Always have a professional asbestos inspector check for any signs of asbestos before making an offer on an older home.
8. Be Prepared to Make Some Repairs
Even if an older home is in good condition, you should still be prepared to make some repairs. Things like painting, replacing flooring, and fixing leaks are all common repairs that need to be made in older homes. So pop over to the Hardware Store and get some basic supplies.
The Bottom Line
Buying an old house can be a great way to get more bang for your buck. But there are also some potential drawbacks that you’ll want to be aware of before making your purchase. Keep these eight things in mind when buying an old house, and you’ll be prepared for anything that comes your way.
This is a contributed post.