Buying an older home can offer several benefits. Besides the fact that they often come with a lower price tag, older homes have charm and character that you may not find in a new build. From ornate moldings to original hardwood floors, these homes can offer a distinct and personalized living experience. In addition, you are more likely to find a home in an established neighborhood if you are willing to consider an older home. There is much to be said for mature trees and landscaping. These areas also can have a strong sense of community and may offer more amenities, such as parks and schools. However, older homes can come with some drawbacks you won’t find in a newer home.
While many older homes may have been built with high-quality materials and solid construction techniques that have stood the test of time, other aspects likely have not.
For example, if you’re in the market for an older home, you’ll want to keep an eye out for water fixtures. Older homes don’t always have the latest in water-saving devices. Some even have a few water-wasters. The good news? A lot of these problems can be fixed quickly and cheaply and keep costs reduced on the water bill. Here are three:
- Shower heads. Putting in new, water-saving shower heads can have a big impact on your bill. Look for showerheads that average 2.5 gallons or less per minute.
- Faucets. A dripping faucet can send gallons of water down the drain every day. This is the first place to start when checking for waste.
- Toilets. Older toilets can use a lot more water than newer models, especially if an older one has a leak. Take a few minutes to inspect each toilet; you can typically hear and see evidence of leaks.
The wiring is another potential hazard. You’ll want to be on the lookout for these issues:
- Knob-and-tube wiring. Many older homes were built with knob-and-tube wiring, which is an outdated electrical system that was commonly used in the early 1900s. This type of wiring can be dangerous and is no longer up to code in most areas.
- Aluminum wiring. Some older homes may have aluminum wiring, which was commonly used in the 1960s and 1970s. This type of wiring can be a fire hazard and may require replacement.
- Cloth-insulated wiring. In older homes, cloth-insulated wiring may have been used, which can deteriorate over time and become a fire hazard. This type of wiring should be replaced with modern wiring.
Finally, no matter how well-built an older home is, there may be structural repairs you’ll need to make simply because of the age of the home. Keep in mind that if the home is located in a historical district, you’ll want to be aware of any restrictions on the types of changes that can be made to the exterior or certain features of the home.
Still, buying an older home can be a great option as long as you are prepared to address issues such as these.
