10 Things You Should Know About Buying An Older Home

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10 Things You Should Know About Buying An Older Home – Buying a home can be exciting! You can build a home or buy an existing home, whichever suites you best. An “older” home can offer charm and unique features which some home buyers put on their “must have” list! However, there may be some things about buying an older home that you may not be aware of. Here are ten things you should definitely know about buying an older home…

Character

If you’re on the fence about whether you should buy an older home or newer home, the style is something you should consider. Older homes tend to have tons of character. They give you the freedom to incorporate your style in places you’d like, while still maintaining that character.

Structure

When you’re working with an older home, you’re also working with an older structure and foundation. With the proper inspections prior to move-in you will likely be aware of the problems you can potentially face.

Bugs

Older homes have more of a potential to be inhabited by unwanted insects, rodents and maybe even bats. Home inspections will help detect some of these things, so make that a number one priority when looking at an older home.

Location

Sometimes the older homes are found in a not-so-desirable neighborhood, older homes often mean older neighborhoods. While this isn’t completely a con, it’s definitely something to keep in mind; however, you can always talk to your real estate professional for help on determining the right location for you and your family.

Insurance

Getting insurance for an older home can be tricky, especially if they haven’t been brought up to more modern standards. This really depends on the age of the home and your insurance company, but it’s something you should keep in mind during the buying process.

Lead Paint

If your home was built before 1978, it may have lead-based paint on the inside and/or outside. As this can be incredibly harmful to you and your family, it’s best to get an inspection to determine the proper next steps.

Historical Limitations

If you’re moving into an old home, you’ll want to confirm that you’re able to remodel the home to your liking. If the home is protected under any regulation or preservation requirements, you may not be able to make the desired changes.

Walls and Floors

When you’re viewing an older home for the first time, pay close attention to the condition of the floors and walls. As it has likely been around for a while, you never know what’s under a layer of paint.

Insulation

Older homes aren’t always insulated the best, which can end up costing you a ton of money in the colder months. Make sure your home is properly insulated, or be sure you’re able to account for this extra cost from the beginning.

Remodeling

In some cases, remodeling your home might be required. Styles and preferences from years ago were different than they are now – a lot of people currently desire an open floorplan and more closet space. Being aware of possible remodeling needs up front will ultimately set you up for success if you choose to purchase an older home.

 

For more information and things you should know about buying an older home, visit here.

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