While some people shun the idea of a home built before a certain year, older houses do appeal to some buyers. Many structures of these types have a unique sense of style and charm. Sometimes these older residences are also in established neighborhoods that are highly desirable. As with any major investment, there are some things to consider before pulling the trigger on the purchase of an older home.
Getting the Full Picture
No home purchase should be completed without a home inspection. This is especially true for an older house. A professional inspector will explore the house’s exterior and interior to determine if there are issues with the structure, the foundation, the HVAC systems and more. Older properties may have serious issues that require major repairs, and you’ll need to know this upfront. These issues may not be dealbreakers when it comes to buying the house, but they’re often the basis for negotiating a better price as a buyer.
Maintaining the Charm
Newer neighborhoods sometimes have homes that look alike. This “cookiecutter” look doesn’t appeal to buyers like you. The uniqueness in the features, fixtures and finishers of an old house are all a major part of the appeal. It’s important as a new owner to maintain the unique appearance of a residence. Some properties are officially registered as historic places, limiting what you can do to change the elevation. Consider this as you search. Repairing or upgrading that round window or arched door may require some extra care and attention.
Developing a Budget
A fixer-upper may catch your eye due to a comparatively low purchase price. Recognize now that those cost savings may be offset or canceled by repairs, especially major repairs needed before the place can be occupied. Following a home inspection, you should consider talking to an expert contractor to get a better sense of what your bottom line will be. Keep in mind that major repairs are not only costly with respect to budget but also to schedule. It may take longer than you think before you can enjoy your home sweet home.
Older houses offer a unique sense of style, charm and history. They’re often a great compromise for living in certain popular neighborhoods, without the high cost of a new build. It’s incumbent on you to do your research about a house’s condition with the help of experts such as home inspectors and professional contractors.
