There’s a satisfaction that comes from the successful purchase and renovation of an old home. Many of these buildings feature architecture that’s both stunning and unique, as opposed to your standard cookie-cutter fare. While older homes are attractive, you want to keep certain factors in mind while conducting the buying process.
We made a list of common problems to look for in an old home to help you with this process:
1. Lead Paint
It isn’t uncommon for older homes to have lead paint. While the use of lead paint in homes has been illegal since the late 70s, many homes built before that time still have it on their walls. Danger doesn’t usually present itself until the paint starts to chip or flake. It’s extremely important to know whether or not an old home has lead paint, as even removal can be dangerous.
Old pipes in a home may contain rust, which can cause corrosion as it eats through the metal. This can cause leaks and bursts, so you may experience significant water damage and the need for replacement pipes. Additionally, rust in water doesn’t exactly taste pleasant.
Termites love wood and unoccupied spaces, which makes old homes an attractive source of nourishment. They also enjoy environments that make their food easier to eat. Leaks caused by rusty pipes or a deteriorated roof can create a moist environment and make the wood softer; this makes it easier for them to eat or digest the material. You may not see the termites themselves, so you’ll want to keep an eye out for the signs of their unwelcome tenancy.
4. Bad Insulation
Many old homes aren’t as well insulated as modern ones, and this causes the need to increase the heat in your home and use more electricity. Older homes typically have thinner materials used for insulation, and you will likely find cracks in windows or the foundation. There’s a chance that, due how many faults are present, renovations can become extremely expensive.
5. Electric Heating
Modern heating and AC systems were obviously not as prevalent as they are today. Many old homes use electric heating systems, which rack up substantial bills and pose a fire hazard. Additionally, many old homes will not come with central AC.
6. Insurance Coverage
Depending on the state of a home and its amenities, you may have a difficult time finding an insurance company that will cover it. If you do, you’ll most likely have a high premium. This is due to the outdated fixtures in the home that will be expensive for your providers to fix.
7. The Cost of Renovations
Budgeting out the purchase and additions to an old home may work differently than it would for newer models. The reason for this is you could fetch the house at a low price, but your total cost may almost double depending on how much work it may require.
That being said, there’s a reason so many people want to purchase vintage homes. They have a unique character and personality new homes can’t beat. The points above aren’t meant to deter you from buying an older house, but it helps to know what to look for. We wish the best of luck as you look for the perfect home!