New things are great, but there’s a certain charm about old homes that new builds simply can’t compete with. If you’re one of the many people that are drawn to older houses, you might jump at the chance to buy a charming old home that’s just bursting with character. But in situations like these, it’s important to remember to “look before you leap.” Behind those beautiful wood built-ins and exposed brick, there could be a lot of issues hiding. Here are three things you should check before you buy an older home.
Condition of the Roof
Roofs are made to last for decades, with some materials
lasting nearly half a century. Because of their durability, many homeowners
don’t give much thought to the condition of their home’s roof. But as a
homebuyer, you should be giving that roof a very careful inspection. When
you’re buying a home that’s only a few years old, odds are very low that there
will be major roof problems. As the home gets older, however, you’re much more
likely to see missing shingles, roof leaks, damaged flashing, and other
problems.
If the problem is severe enough, you could be looking at
a total roof replacement on your new home. That can cost you close to $8,000,
on average—and your charming old home might look quite a bit less charming
after serving you up with that bill.
Hazardous Building
Materials
In the last 50 years or so, many building materials have
been outlawed as scientists have discovered the health hazards they present.
For homes built prior to 1978, lead-based paint and asbestos were relatively
common in their construction. Before 1955, paint could be composed of up to 50%
lead, making it extremely toxic. If your home was built before 1978, ask for
records that indicate hazardous building materials have been replaced; an
inspection may also reveal if there is asbestos or lead-based paint in the
home.
Deleading a home can cost you around $3,000. Basic
asbestos removal costs about $2,000, but a full-home remediation will cost
anywhere between $15,000 and $30,000. Odds are, that’s not something you want
to invest in a home you’ve just purchased.
Outdated Plumbing
The paint isn’t the only place where your old home could
be hiding lead. Lead pipes were also commonly used in the plumbing for older
homes, and they can leave lead deposits in your drinking water as they get
older and begin to decompose. Other outdated materials like galvanized steel
and cast iron are also prone to corrosion and deterioration, and the former can
even deposit rust into your water. At the very least, old and outdated plumbing
is more likely to leak, causing water damage in your charming little home.
Replacing the pipes
in your home will vary in cost depending on just how much needs to be replaced.
A small plumbing system (or replacing only a portion of the system) might cost
you a few thousand dollars, while a total repipe
plumbing in a Sacramento home with
several bathrooms and a kitchen can cost you as much as $15,000.
