While you may assume that an older home will require a bit more upkeep and repair work than a newer home, there are some costs you may not have thought of. For instance, if purchasing an older home it’s important to consider the possible costs of homeowners insurance. Depending on the age and state of the home, the cost of homeowners insurance could be cost prohibitive. You might not even be able to find a company willing to cover the home. This is a good reason to get estimates for insurances and other such costs long before closing time.
Renovations could also be highly cost prohibitive, so it’s important to consider that you’re purchasing an older home for the existing character and modernizing everything would be counterintuitive. Older homes can have unique features that require everything new to be custom made, and you may even have to battle historical societies to do any renovations at all. So if you do purchase an older home, you should try to do so with the mindset of restoration over renovation. During your home inspection, try to focus on the elements that can be restored rather than on things to replace.
Do Your Research
The most important thing you can do when considering an older home is to thoroughly research all aspects of the purchase, including the home inspection. A proper home inspection is always important, but even more so when purchasing an older home. There are many issues that you may not even think of; wiring, plumbing, pests, and so forth, but an experienced home inspector will know exactly what signs to look for in order to provide you with the information you need in order to make an informed decision.
The character and craftsmanship of an older home is often worth the unavoidable investment of time and money. As long as you take the time to properly vet the home, through research and detailed home inspections, buying an older home can be a very fulfilling experience.
With over 40 years of combined experience, Super Inspection Pros knows exactly what to look for when inspecting your older home. Contact us to schedule an inspection that will give you the confidence you need to purchase your home, whether it’s new construction or old.