It looks like a romantic idea to buy an older house for a home. Those who understand the good antiquity can appreciate the nostalgic beauty of an old house of which walls are full of history. What is absent from the old houses that are owned by older houses are incredible traits and historical features.
Those great features may lure you to just buy the house, but before you actually buy the house, you need to do a complete investigation. There can be a severe crumbling concrete repairs hidden in that beautiful facade.
If we are still interested in that historical beauty and character but do not want to fall into a money pit filled with problems such as old plumbing, wiring and foundation, what should we do to avoid it?
Freshhome provides four things to consider before you decide whether an old home is the best for your lifestyle.
1. The Oldest House Is Equipped with Older Technologies and Building Materials
It is not always a bad idea to use old technologies and building materials. The older houses normally have the custom, artisan-crafted qualities that can mean a lasting value and structure that can not be found today. There is a reason why the old houses still stand – they were built for eternity.
A lot of recent builders do not take the time to swing wood joints or scratch the large wooden ceiling joists, such the qualities that make us head over heels with a historic home.
Unfortunately, this romantic charm has some problems. If we talk about technology, an older house is normally filled with old methods of plumbing, electrical, heating, window, roofing and insulation properties. This involves many expensive repairs! Repairing a house with new wiring, windows and wiring can cost a fortune.
Before making the decision that changes lives, you must hire a variety of contractors, engineers, endowment experts and inspectors because it may contain dangerous material such as asbestos. If it involves asbestos, then it will require asbestos testing or asbestos removal Adelaide which will require additional cost.
All potential costs should be considered when buying an old house. Although it seems the house is in good condition, it is still old, and with age there are problems.
2. Older Houses Have Qualities Hard to Buy
Large, simple wooden floors, solid wood handmade doors, wrap the porches, those are some of the lists that make people fall in love with the older house, and the list can go on.
You can duplicate these features in a newly built house, to some extent. Some skilful custom builders can construct houses that are full of character so you can give up all the invisible repairs of an older relic.
However, older houses have an old century of a big oak tree and familiar neighbourhood which, of course, new homes do not have. A new home commonly has a youthful neighbourhood that is still in development.
To have a tree-lined street will require quite a long time and that is the appeal of the older neighbourhood where everything is already there and created.
The house has a pros and cons on both sides of the fence. As a consequence, there are costs that have to be seriously considered before making any decisions.
3. An Older House Is Likely to Require Remodelling
A home with a large open floor plan which has spacious closets, bathrooms and bedrooms are the today’s aesthetic that most homeowners to be included. Unluckily, when the old houses were designed and built, those features were not the desire for centuries.
Most of the older houses have a small bathroom (if you’re lucky, there are two bathrooms), some small rooms, and we did not even talk about the lack of storage and closet space.
It’s too late when you found out that the house that you fall in love due to its beauty is not enough for your family of five and two dogs. There will be little room for clothes in the closets, and soon you will dream of a big jack and jill bathroom for the children.
Buying an old house definitely requires some rebuilding and expansion. Again, these are additional costs that must be considered before purchasing.
4. How about the Homeowner Insurance? How Much Will It Be?
The cost of homeowner insurance, this is something that many home buyers forget. Insurance is a must, though it is expensive, no matter what kind of home you are buying. However, securing an old house can be even more expensive.
The old houses are riskier, and the insurance companies are unwilling to pay the bill for these invisible circumstances. Old cabling can pose a dangerous fire hazard, old water pipes can cause major water problems, and crumbling concrete foundations can lead to flooding and expensive structural problems.
While calling all other specialists (builders, house inspectors, etc.), don’t forget to contact the insurance companies for quotes.
It would be terrible to move into the house of your dreams just to find out that your insurance policy is not affordable or does not cover all the unexpected risks that accompany the ownership of the house.