Five Ways to Buy an Older Home Wisely

An older home is a great investment, especially if you’re a first-time home buyer and just starting a family. Older homes often are less expensive than new homes and are usually located closer to downtown areas, which reduces transportation cost. Although buying an older home has many benefits, there are several things you’ll want to consider first. Let’s discuss five things you’ll want to check out before purchasing an older home.

Electrical System

Many older homes have their original wiring, which can pose a safety risk because outed electrical panels in older homes can’t safely handle today’s electrical loads. Also, older wiring can start to crumble and can be difficult to remove. Therefore, before you buy an older home, you’ll want to know if the electrical system has been updated, and if not, you’ll want to have the system inspected by a professional. 

Also, older homes have fewer electrical outlets. That may require you to use extension cords, which can be hazardous. Electrical system upgrades may cost a few hundred dollars, but it’s worth it to keep your family safe.

Lead-Based Paint

Older homes may have lead-based paint because, before 1979, lead-based paint was used on interior and exterior surfaces. Now, this doesn’t mean that if a house was built before 1979, it absolutely has lead-based paint. But you can purchase lead detection kits at a local hardware store and check for yourself. Also, if you’re buying a house built before 1979, lead-based information must be disclosed, and you do have rights under federal laws.

Outdated HVAC System

Outdated heating, ventilation, and air conditioning (HVAC) systems not only make the home uncomfortable to live in, but are a safety risk. Older homes are heated with oil, which is less efficient than newer heating options. Also, some furnaces only have a lifespan of 50 years, so before you decide to buy an older home, have a professional HVAC technician inspect the house.

Older Roof

A typical roof lasts 20 to 25 years, but roofs do suffer from wear and tear over time and have to be replaced. Depending on how many layers of shingles have been installed, you might just be able to add another layer. However, be sure to check your local building codes before deciding if adding another layer is an option.

Radon

 

Radon is an odorless, tasteless, invisible gas that comes from the natural breakdown of uranium in the soil, water, and rocks. It’s dangerous, and in fact, it’s the second-leading cause of lung cancer in the U.S. The problem is that homes built before 1970 don’t have mitigation systems because information about radon was still unknown. Today more information is available, and newer homes have ventilation systems that route radon into the open air.

Testing for radon is simple and inexpensive, and if your home radon levels test high, there are several things you can do to remedy the problem.

If you’ve found your dream home, and it’s an older home, make sure you get a proper inspection before buying.