What to Look for When Buying an Older Home
Anyone who has visited San Francisco or Cape May, New Jersey knows
how beautiful historic architecture can be. In San Francisco, they've
even named their stately, restored Victorian homes "Painted Ladies."But, are these older homes good buys? Considering that most of a home's components deteriorate with age, you may be not only buying a vintage home, but vintage problems as well.
Here's a quick look at some of the more common problems with older homes.
Foundation
Piers are long steel shafts that are driven through the soil and into the bedrock below. This process takes the weight of the home off unstable soil, and the home is less prone to settlement. It's a big job, though, and quite pricey.
Look for cracks in the walls, bulging floors and doors that won't close. These are all signs of possible foundation damage. Not all cracks, however, indicate a problem, so don't be alarmed – let a professional diagnose the situation.
The engineers with Page suggest taking a 4-foot bubble level with you when you visit an older home you're interested in purchasing. Use the level to check the floors and walls. If any of them are out of level, have the house checked by a structural engineer.
Electrical System
If the home was built between 1920 and 1950 and has never been remodeled, it may still have knob-and-tube wiring, which is considered incapable of handling today's electrical loads.
Some home insurers won't cover a home with this type of wiring and will insist that it is replaced before insuring the home.
Your home inspector should be able to determine what type of wiring the home contains and its condition, at least in visible areas.
Plumbing
Determining the type of pipes in the home is challenging because so much of the system is behind walls. A plumbing contractor inspection is your best bet, and even then you may not learn about all of the pipes in the house.
"Replacing old pipes in a 1,500-square foot, two-bathroom home costs $4,000 to $10,000, and requires cutting open walls and floors," claims Joe Bousquin at HouseLogic.
Roof
Sagging is a sign that a roof is holding too much weight. This can happen when new roofing is installed over old roofing or from prolonged contact with a significant layer of snow.
If you know you'll be looking at older homes, take along a pair of binoculars. Before entering the home, look at the roof from the curb and determine whether the chimney and rooflines are straight.
Next, check the shingles. If they aren't flat and instead curled or cupped, they may need to be replaced.
Ask the homeowner the age of the roof. Although the lifespan of a roof depends on several factors, if it is wood, tile or asbestos and over 15 years old, you may need to replace it in a few years.
Since a new roof may cost upwards of $8,000, it's important to have the home's roof inspected before obligating yourself to purchase the home.
Additional Items
Other problems you may find in an older home include:
Lack of storage
Lack of natural light
Inadequate insulation (thus higher heating and cooling costs)
Small kitchen
While all of these items can be rectified, the cost to do so should be factored into the price of the home.
That the craftsmanship and materials of an older home have stood the test of time is a testament to its quality. But few things last forever, and a home inspection, using the appropriate contractors, is a must when considering the purchase of an older home.
