Things You Should Know Before Buying an Old House

This is one of the important things to consider when buying an old house.

When buying a property, there are certain factors to consider if you want to get a home at a considerably lower price. One of the elements is the age of the house; in the United States, there is a fairly large stock of housing stock that could be considered old houses. Would you dare to make this type of construction your new home? If you do, don't miss the pieces of advice Ace Florida Realty gives you to evaluate your decision.

Considerations before buying an old house

The first thing to look at before you buy your home is what may be considered old or antique today. In the real estate sector, a house from the 1930s is already considered an antique house, while those built in the 1990s are newer. However, several elements can influence the deterioration or maintenance of these type of properties.

In many cases, the house condition can depend on three factors: renovations, materials quality, and climatic and geological aspects. Regarding materials, everything depends on their quality; prefabricated houses, for example, have lower quality standards, so their deterioration can be more significant. However, this may never be a problem if the owners of old houses are continually renovating and expanding; today, there are houses whose history dates back to the early 20th century, but whose foundations, materials, appliances have been replaced so that the deterioration won’t be the same.

Finally, climatic and geological aspects can also affect the conditions of a home. Humid weather tends to damage roofs and basements, and seismic movements can affect the foundations of a property.

These three factors can determine the problems that may or may not have some properties. And what could these problems be? Read on to find out.

Most common concerns about old houses

Older homes can represent an advantage regarding location, neighborhood, resale value, and costs. However, these properties can come with a lot of challenges.

Plumbing problems

One of the essential features in an antique house is the heating system and plumbing. In some cases, they may be in deplorable condition, if there has never been a renovation. Today these systems may be so outdated that they do not comply with today’s building codes. Also, the poor condition of these systems can lead to pipe breaks that can cause flooding, moisture and other damages that cost a lot of money to repair.  

Use of hazardous materials

For decades, the use of specific materials such as lead and asbestos was very common in home construction. However, at present, these metals and components are considered highly toxic and harmful, so their use is prohibited. In old houses, you can still find traces of these materials in pipes, walls, exterior and interior paint, among others.

Bad electrical system

Every electrical system can deteriorate over time. If the wiring has never been renewed, it is possible that when you buy this type of home, it may have electrical problems and could put your home and your family's life at risk. Likewise, these constructions may not be adapted to the electrical needs of new technologies. If you are a device-lover, you may not have enough electrical outlets to connect them.

Pest infestation

A serious problem that can occur in older homes is the infestation and presence of different types of pests. First, there is the wood pest, which can cause irreparable damage to the structure of a house. Among the organisms you can find in wood, there are termites and wood-decay fungi. Other pests that can endanger your family's health and cause damage to foundations, materials, walls, and wiring of a property, there are rats and cockroaches, animals that are often found in humid and dark places.

All these concerns can be addressed with home and pests inspections. These services are a way to evaluate whether it is worth the investment and whether the benefits outweigh the difficulties that buying an old home can bring.

Whether you want to buy a house to live in or invest in a property to sell it later, you should consult experts who can advise you on the best way. To learn more about the viability of a real estate investment, contact Ace Florida Realty brokerage firm, a real estate company that will guide you through the entire acquisition process.

Sources:

Money Crashers  - Buying an Old House? – Common Problems, Hidden Costs & Benefits

Realtor.com - The Pros and Cons of Buying an Old House

Learn all about buying an old house with Ace Florida Realty.

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