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5 Things Nobody Tells You about Buying an Older Home

Buying a ‘fixer-upper’ for a house seems like a romantic proposition. Anyone who appreciates a good antique can understand the nostalgic appeal of an ancient home whose walls are filled with history. Older homes have amazing character traits and historical features that most new homes simply do not have.

Oh! Those huge wood burning fireplaces, the wood trim and moldings, and those ceilings with rustic wood beams — these are all the amazing features that usually do not come in todays mass produced homes.  It would be easy to hastily buy one of these ancient gems before doing a little research. However, a thorough (almost forensic) investigation is needed before buying an older home. Behind the beautiful facade there can be a train wreck of crumbling concrete repairs.

How do we buy a home that is overflowing with this historic beauty and character, while not falling into a money pit full of outdated plumbing, wiring and foundation problems?

Here are ten things to think about before deciding if an older home is the right fit for your lifestyle.


 1.  An Older Home Comes With Older Technology and Building Materials

The use of older technologies and building materials is not always a bad thing. The custom, hand-crafted qualities of an older home usually mean long-lasting value and a durable structure that one cannot find now-a-days.  There is a reason that older homes are still standing — they were built to last.

Most of today’s builders do not take the time to dove-tail wooden joints, or hand-scrape large wooden ceiling beams. These are the qualities that make us fall in love with a historic home.

Sadly, this nostalgic charm also comes with some issues. Technologically speaking an older home is usually filled with ancient methods of plumbing, wiring, heating, windows, roofing and insulating properties. This means a lot of costly repairs! Refitting a home with new wiring, windows, and plumbing can cost a fortune.

Hiring a plethora of contractors, engineers, foundation experts and inspectors is a must before making any life-altering decisions.

Yes, it is life-altering if you buy a centurion home. The home will become your new baby (and babies are expensive). All potential costs must be factored into the purchase of an older home. Even if it seems the home is in good standing—it’s still  old, and with age comes problems.

2.  Older Homes Have Character That’s Hard to Buy

Wide-plank wood floors, solid wood craftsman doors, wrap around front porches … the list of reasons to love an elderly home could go on forever.

To a certain extent, you can replicate these characteristics into a newly built home.  There are some amazing custom builders who can build homes that are full of character, allowing you to forgo all the unseen repairs of an older relic.

However, a new home usually comes with a young neighborhood that is still developing.  Which means no big century-old oak tree in the front yard, and unpredictable neighborhood developments.

A tree-lined street and quaint neighborhood do not happen overnight, hence the appeal of older neighborhoods where everything is already in place and established.

This debate of whether to build new and try to add new character versus buying an older, character-laden home is one that has pros and cons on both sides of the fence. Either way, there are costs involved that must be weighed heavily before making any decisions.

3.  An Older Home May Require Some Remodeling

The current aesthetic that most homeowners want in their home is a large open floor plan with big closets, bathrooms and bedrooms. Unfortunately, this was not the desire centuries ago when older homes were being designed and built.

Most older homes have one small bathroom (two if you’re lucky), a couple small bedrooms, and let’s not even discuss the lack of closet space and storage.

You may fall in love with the beauty of an older home, only to discover that your family of 5 and two dogs will quickly overfill the space. There will be little room for clothes in the closets, and you will soon be dreaming of a large jack and jill bathroom for the kids.

Buying an ancient home will most definitely require some remodeling and expansion. Yet again, this is another cost to consider before buying.

4.  How Much Will Your Home Owners Insurance Be?

This is something a lot of home buyers forget to look into — the cost of homeowners insurance. Insurance is an expensive must-have,  no matter what type of home you buy.  However, insuring an ancient home can be even pricier.

It masks sense — old homes come with more risks, and insurance companies are not willing to foot the bill for those unseen circumstances. Old wiring can be a dangerous fire hazard, old plumbing can pose major water issues, and crumbling concrete foundations can cause flooding and pricey structural problems.

While you are calling all the other experts ( builders, home inspectors etc..) remember to call around and get quotes from insurance companies.

It would be horrible to move into your dream home only to discover that your insurance policy is unaffordable or doesn’t cover all the unforeseen hazards that come with home ownership.

5. The Top Two Updates of an Old Home

Roof and windows. These are the two updates that must be done first and should be made a priority.

Any roof that is older than 10-15 years will need replacement sooner than later. Older roofs begin to leak and crumble, thereby loosing their insulation properties and causing more costly repairs.

Older windows are usually single pane with very low insulating properties. Ancient windows equal a drafty home in winter and sweltering home in summer.

Before buying your beloved antique home, put these two repairs at the top of your to-do list. Maybe you will get lucky and find an older home whose owners recently replaced the windows and roofing.

That would be like buying an antique oil painting whose previous owner already payed the expense of having it professionally cleaned. The value of the antique is increased and the work is already done for you!

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