5 things to look for when buying an older home
There are plenty of reasons for homebuyers to snatch up an older home. A property with several decades of history could be more affordable and have more character than a newer house.
But older properties can also have potential issues that might lead to expensive repairs and even safety concerns.
So what are some of the top issues your inspector should check for before you buy an older home?
- Faulty Foundation: A solid foundation is essential to the structural integrity of any home. Over time, foundations can settle and crack. If there’s a lot of damage, that can create uneven floors and lead to issues like dry rot and moisture problems.
- Outdated Electrical Wiring: Some homes predate modern wiring and haven’t been updated. Outdated wiring will not be up to current code requirements, and it can pose a fire risk.
- Old Plumbing: Plumbing problems can be messy and expensive. The sewer lines of an older home may be made of dated materials that are prone to clogs and collapse.
- Hazardous Materials: Over the years, many commonly used materials have been discovered to be bad for human health. Homes built more than 30 or 40 years ago might still contain things like lead paint and asbestos.
- Mold and Mildew: Water damage, inevitable with time, may mean some older homes have mold and mildew problems. If that growth has gone unnoticed for years, it can require extensive professional remediation.
Before you buy a historic home, work with a professional home inspector to understand potential repairs and safety issues.
Once you do buy a home, get in touch to make sure you have the right insurance coverage.
