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Posts Tagged ‘home buyers’

Monday, June 12th, 2017

Home Buyers Beware of Old Home Pitfallshome buyers collinsville il

Buying a new home is one of the most exciting (and frustrating) things one can experience. The prospect of picking out a home that checks off all the boxes on your list can be daunting yet rewarding. Furthermore, many home buyers are drawn to older homes. Whether it’s the style, floor plan,  or just the ambiance of owning an older home, it’s not all cake and watermelon afterward. If you plan on purchasing an older home, take these things into account before signing off, and be sure to get two inspections before making any decisions!

Foundation/Structural Issues

A home with a sinking foundation or structural problems will show cracking and other dangerous signs throughout the house. Likewise, repairs for a sinking foundation can be quite expensive.

Termite/Bug Infestations

Termites can serious affect the structure of any home, and their presence may require costly services and even repairs, depending on the extent of the damage.

Outdated Appliances

Keep appliances in mind when it comes to looking at old homes. Outdated models will have to be replaced at some point, and they may even be dangerous; depending on their age.

Outdated Plumbing

This is another area that could cost thousands to repair. Old homes have old pipes and old systems; make sure you know the age and condition of these systems before entering into a sale.

Doors & Windows

Many times the cycle of hot and cold weather causes cracks, gaps, and holes to open up around windows and doors. Be sure to make a note of these and seal them should you decide to buy; these can be major energy wasters.

Heating & Cooling

You’ll also want to have comfort systems inspected to ensure their functionality. Furthermore, homes with older systems may need to be updated, which could tack on thousands to the cost of owning the home.

Siding & Roofing

With an older home, it’s more likely that these will need to be replaced. Furthermore, many old homes were constructed of materials that are no longer common (i.e. wood siding) and may cost a pretty penny to replace or restore.

Lead Paint

Lead paint is safe when it’s on your walls, but unsafe when it’s been flaked off, or particles are floating around in the air. You’ll want to get rid of interior and exterior lead-based paints, which could get expensive if it covers your entire home.

Mold

Mold growth is serious and could point to some problems that home buyers should beware of. Additionally, mold causes health problems and could be difficult and expensive to get rid of if the problem recurs.

Asbestos

The use of asbestos was much more prevalent in older homes and has been tied to some forms of cancer. Replacement isn’t usually expensive or necessarily hard, but you’ll want to make sure it gets taken care of.



 

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