The United States is preparing to celebrate its 245th birthday, which is incredibly young when you consider that England was formed in 927 AD, making it over one thousand years old. 

That said, 200 years is a long time when you’re talking about the age of a home. And while the median age of homes in the US is much lower than that, there’s still a large number of homes considered “old” and “antique” around the country.

There’s a lot to love about purchasing an older home, but there are a lot of things you need to consider before you sign the contract.

Because, yes, an old home comes with a wealth of character and unique historical features that you won’t find in the mass-produced homes of today. But among all that beauty, there’s also a higher risk of electrical, plumbing, and foundation problems.

This doesn’t mean that an old house can’t be the perfect choice for you and your family. It just means that you need to perform due diligence before making your final decision. Keep reading to learn what you need to keep in mind when shopping for an older home.

1. You’ll Need to Get Multiple Inspections

During the home buying process, every penny counts. After all, a house is the largest purchase most of us will ever make and there are a lot of expenses that go into buying a house aside from the structure itself.

With that in mind, it can be tempting to cut corners where you feel that you can in order to save money. However, when you’re buying an older house, you should actually get more inspections done, not less.

Older homes are built with quality materials and craftsmanship that allow them to stand the test of time, but home basics such as electrical, plumbing, heating, and insulating have come a long way over the years. Because of this, many older homes have outdated features that can cost a fortune to update.

You need to have the full scope of what you’re getting into before you purchase the home. The best way to do so is to get multiple professional inspections of the property and structure.

This means hiring inspectors, contractors, and engineers to provide you with structural and electrical safety information, as well as a list of necessary and recommended updates and repairs. 

2. Your Homeowners Insurance Might Be Higher

Maintaining homeowners insurance is a requirement that comes along with being a homeowner. No matter the age, size, or location of your home, homeowners insurance is both expensive and unavoidable. However, there’s a good chance that if you purchase an older home, your bill is going to be higher.

This makes sense when you consider the structure of the insurance industry. The higher the risk, the more expensive the policy. And with older homes, the risk of encountering a problem that leads to you calling your insurance company is much higher than it is with a new home.

Antique wiring means a greater fire hazard, ancient pipes can lead to leaks and other water issues, and an aging foundation increases the odds of structural issues. An insurance company is going to be wary of these issues, as they’re more likely to have to foot an expensive bill.

This means you’re going to have to do some serious shopping before you choose an insurance company. You need to be sure that you can afford your insurance policy and that it will cover any potential hazards that you might encounter with your old home.

3. Remodeling Projects Are a Strong Possibility

Along with the updates to the wiring and plumbing that you have to make, you might also find that in order to make the home fit your wants and needs, you have to remodel. This doesn’t mean gutting the entire home and starting over, but there are certain aspects of older homes that don’t fit modern needs.

For example, most older homes have limited storage and closet space and lack large master suites and secondary bedrooms. If you don’t have a need for a large Jack and Jill bathroom for your children or a walk-in closet for yourself and your partner, you’ll be fine. If these things are important to you, however, you’re going to be looking at multiple remodeling projects.

This can become expensive fast, and if you’re not prepared for the investment it will take to transform your old home into what you want, this type of house might not be for you.

4. Certain Remodels May Not Be Permitted

Depending on the age and location of your home, it might fall under the protection of a historical society. These groups exist to protect old and antique homes from being stripped of their historical features. This means that there could be restrictions on the type and style of remodeling that you can do.

So before you sign on the dotted line, you need to do your own research or talk to your realtor. They will know who to contact to look into these matters and provide you with a list of remodels that are and aren’t permitted.

5. Your Furniture and Doorways Must Be Measured

Older homes simply were not built with modern lifestyles in mind. Years ago, people didn’t have nearly as many belongings, and what they did have was smaller in size.

For example, no one had a commercial-grade stainless steel refrigerator in the early 1900s. Giant 75-inch televisions and 8-person sectional couches didn’t exist yet and there was no way of knowing that they someday would.

Because of this, older houses are not only built with smaller bedrooms and bathrooms but smaller doorways as well. When you’re touring older homes with the intention to purchase a house, you’ll notice that doorways are both shorter and more narrow than they would be in a modern home.

You might have trouble fitting larger furniture items through the doors of your new home. And while new doorways can be built, this is yet another costly update. 

6. Ask How Long the House Has Been Empty

Houses aren’t meant to sit abandoned for years at a time. They need movement, use, and air circulation to stay in good shape. If you’re interested in a home that’s sat empty for years, you could encounter serious problems such as pests, moisture, and mold.

Thorough inspections will catch any of these issues, and some are easy to correct, but others are expensive and time-consuming. If the roof of the home has had a small but steady leak, for instance, you could be looking at thousands of dollars in remediation costs.

Be sure that the attic is thoroughly inspected for critters as well. An undisturbed attic is a dream home for pests such as bats and rats. Bats, in particular, are quite expensive to get rid of. They can only be removed at certain times of the year and their droppings are toxic, meaning you have to have the area cleaned by professionals.

7. You Could Have Lead Paint

If your home is over 40 years old (built before 1978), chances are you have lead-based paint in at least some of the rooms. Keep in mind that it might not be the visible paint, lead paint has often been covered by layers of newer paint.

Now, lead-based paint that’s in good shape doesn’t pose much of a threat. However, this isn’t the case in most older homes. As lead paint ages, it begins to crack and peel – this is when it becomes a hazard. This is especially true for those with young children in the home.

Of all the house problems you could encounter with an older home, this is among the mildest. If you’re a DIY expert, this is an issue that you can take care of yourself, as long as you’re aware that this paint releases toxic lead dust when disturbed. You’ll need to take the necessary precautions to protect yourself and your family.

Use This Guide to Purchase the Perfect Older Home for You

These days, homes are built with builder-grade materials on non-existent lots. Cookie-cutter neighborhoods are popping up everywhere, and while this might be the right choice for some, it’s a turn-off for many.

If you’re in the latter camp, an older home could be just what you’re looking for. But when you purchase an old home, you have to love it for exactly what it is – old. There are going to be quirks and necessary repairs along the way, but that’s a small price to pay for living in your dream home.

Interested in learning more about finding the right home for you? Take a look at the rest of our blog!