Buying an older home can be a wise decision. Their beautiful architecture, solid construction, and traditional styles are all well worth their often high costs. They just don’t make them like they used to, after all.
However, older homes often also require a bit of maintenance and repair, the cost of which may wind up doubling your investment. If any of the local houses for sale that you’re considering buying are rather old, then be on the watch for the following.
Termites.
Believe it or not, termites cause about $5 billion in property damage every year, according to the National Pest Management Association. Since they particularly like munching on soft, older woods, they pose more of a problem to older homes for sale. If you put a down payment on an older house, then you may want to call in a professional termite inspector when you get the home inspected before signing the official paper work.
Lead Paint.
Lead paint was banned in 1978, which means any homes for sale built before that year could have some toxic, lead paint in it. That doesn’t mean all of the homes for sale that were built in 1977 and earlier do. A potential house built in the ’40s may not even have a drop of the stuff, but you still need to be careful. Enough exposure to it could lead to cardiac arrest in adults. If the seller has not already checked for lead paint, then hire a lead paint inspector to check things out for you.
Older HVAC Systems.
One of the main problems many encounter when checking out various homes for sale is an outdated heating system. Not only will it insufficiently heat the home, but it could pose a serious fire hazard. If you’re considering buying a house and the home inspector tells you that there are issues with the HVAC system, then move on, and look at other homes for sale, because repairing it will take time and money you shouldn’t have to waste.
Buying a house that’s older can be a bit tricky, but if you know what to watch out for, you’ll be fine. Keep these points in mind as you look at different homes for sale, and if you have any questions about buying an older home for sale locally, feel free to share in the comments. Find out more here.