Buying an Older Home

8 Key Things to Keep in Mind When Looking at Buying an Older Home

Gustan Cho Associates are mortgage brokers licensed in 48 states

This article on 8 Key Things to Keep in Mind When Looking at Buying an Older Home Was PUBLISHED On February 21st, 2020

What are 8 key things to keep in mind when buying an older home

There are many reasons why people opt for looking at and purchasing an older home versus a new construction home. The purchase of an older home can be very rewarding, but just like there are pros, buying an older home comes with its cons.

Let’s Take a Look at The Key Areas to Assess If Buying an Older Home

1. Take A Thorough Look At The Home’s Roof When Buying An Older Home

The roof of any home is quite important obviously:

  • But there’s quite a bit the average person could likely miss if they don’t hire a professional who is willing to take a thorough look at the roof inside and out
  • Look for things like missing slates (sometimes not always easily visible), moss or lichen, lines that are sagging or not perfectly straight
  • Be sure to take a good look at the inside
  • Considering and looking to see if all of the actual timber has structural integrity, is it in good condition, etc.
  • You’ll also want to make sure all beams are present
  • And, of course, that there are no signs of water damage to be found

2. If Walls Could Talk: If Only!

You’ll have to do the investigative work yourself:

  • But checking the walls out is a very important thing that shouldn’t be looked over especially in older homes
  • Check for cracks
  • But cracks are the cause of many different things
  • If the cracks are due to gradual subsidence, then you’ll have to go to expensive lengthy measures to fix up the foundation or structure
  • If they are found – and do due diligence – be absolutely sure to find out the cause of the cracks

3. All Things Damp Are A Dump When Buying An Older Home

It’s often one of the more likely posing threats when dealing with an old home.

  • If you plan on buying an older home, then you  should be sure you are checking out dampness
  • The thing is, many old homes don’t actually have damp-proof protective construction
  • This will cause wall damage
  • This occurrence could very well lead to problems like dry rotting, a whole problem in itself

4. Dry Rotting and Decay Problems

Which means problems with decay and dry decay

Dampness actually can cause a lot of damage.

  • If you are a victim of damp or are looking at a home and find dampness, you could see the consequence of dry rot or wet rot
  • Both are pretty invasive to the home, and – as the paragraph above details – they are particularly a thing to look out of in older homes
  • Dry rot is much more invasive than wet rot believe it or not. It can completely render a home a death sentence, destroying its structure
  • For either, the only solution really is to replace the bad timber for good timber and be sure to treat the new structure with anti-fungal liquid

5. Watch Out for Woodworms

Woodworms can be devastating to your home and your belongings.

  • Be sure to check out the home for this problem
  • You can detect woodworms’ activity by an indication of the larvae creating find powder around the holes created (Yuck!)

6. Watch Out for Electrical Wiring

Electrical wiring is really the most common thing you should bet on having to allocate some budget towards when you’re buying an older home.

  • Modern electrical standards are very different than more significantly older homes
  • Some things that could happen are having old wires that are fused instead of having circuit breakers
  • None of this is something you could check out on your own
  • But be sure that your surveyor is able to check into this and take a look at the fuse box
  • You’ll be able to tell from this whether or not there are RCCBs or something like it installed

7. Plumbing Problems are No Good!

When you are buying an older home, plumbing can be just as much of a burdensome problem as electrical wiring is.

  • Pay attention to whether or not there are dripping taps anywhere in the building and if everything works the way it should with water flow
  • The number one thing, though, to be careful of when you are looking at an old home’s plumbing be absolutely sure that they’re not lead pipes!

8. Ensure Your Budget with Insulation Inspection

How to take care of your budget thanks to insulation control

Like some of these other modern standards that have changed over the years, insulation is also another one of them and older homes should be thoroughly checked before being purchased.

  • Having to install insulation after you make a purchase will cost a fortune, and if you don’t fix it, you can brace yourself for hefty bills in winter, or really any time of the year

Related> Newer Home versus Older Home Purchase

Related> How to Buy and Sell a House at the Same Time

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