While an older home can provide you with a unique array of history and charm, it is important to know what to look for before you sign on the dotted line. Otherwise, you could find yourself needing to make a long list of repairs before you are even able to settle in.
Just some of the key issues that you can find with older abodes include:
- Termites – Although you may not actually see them, termites can be a major issue, particularly in an older home. These little guys are known for chewing through wood and flooring – and even wallpaper. Because termites are particularly fond of softer wood, if the home you are considering has had any water leaks over the years, it is possible that you’ll have these uninvited guests. Hiring a termite inspector before you move forward with the purchase can therefore be well worth the expense.
- Windows that are Inefficient – Even though older homes can often be more structurally sound than newer construction, this isn’t necessarily the case for their windows. In fact, in many instances, you will find that old homes have windows what are single pane – which can lead to drafts from the outside, as well as your heat and cool air seeping out, causing you higher utility bills. With that in mind, be sure to have a home inspector take a close look at the windows prior to moving forward with the deal.
- Lead Paint – Lead paint was banned back in 1978. So, if the home you are considering was built before that time, it could very well contain this potentially dangerous substance. You will often find this type of paint around a home’s doors, windows, and trim. But it can be difficult to detect. Here again, be sure that you have an inspector who specializes in lead paint come out and take a look. If it is determined that there is lead paint in the home, the cost of removing it can vary.
While older homes can oftentimes be better built, a house with many years of history can also require significant renovations and / or repairs – which could be extremely difficult on the wallet, especially if you aren’t prepared.
Going in knowing what to look for, though, can help you to either pass on the deal altogether, or to establish a position for negotiation on what you and / or the seller need to do in order to make the transaction happen.
For more information on how to move forward with the purchase of any home, we can help. Contact Us and we’ll walk you through the process – and, we will also provide you with a free, no obligation analysis of the value of your current home.
