by joy

Created on: February 21, 2007   Last Updated: April 18, 2007

Buying an older home is both an adventure and exciting. There are many possible issues when buying an older home that you may wish to consider before you make an offer.

Do you like the neighbourhood? Is it a neighborhood that has trees? How big are the properties? Is this a neighborhood you will be comfortable living in for a long period? Can you walk to the store? What about landscaping? Is the lawn and garden in good repair? This is the first thing people will notice about your home.

Do you like the layout of the home? It can be very expensive to renovate. Is the home going to meet your needs for however long you are planning to live there? Some older houses have small rooms, too few bathrooms, and very defined spaces, as opposed to open living space found in new homes.

Does the home have something of its' old character left? Are there special touches, like original french doors that make it unique? This is not imperative, but can add value to the home.

Has the wiring been updated? While some studies report that knob and tube wiring is safe, it may be difficult and expensive to have it upgraded. If it has not been changed, will your insurance company cover it? Not all will.

Has the plumbing been inspected? Does the home have faulty plumbing (have there been leaks) or is it old enough it may need significant replacement?

Has the home been adequately insulated? Many older homes have no insulation between the walls. Can you blow insulation into the walls, without removing the plaster and/or drywall? A home inspector may be helpful in this regard. This may be particularly difficult if the wiring has not been updated.

Have the windows been replaced and/or kept in good repair? Windows are very expensive to replace, and have been reported to cause a great deal of heat loss from a home. Broken windows should be looked at prior to making an offer to purchase a home.

How is the roof? Are any tiles/shingles peeling or otherwise looking worn? This can be a very large expense.

How is the foundation? Are there cracks in the home's plaster or brick work as a result of shifting? If in doubt, ask a home inspector for assistance in determining if it is normal settling vs. something that will need to be repaired.

Last but not least you need to determine your budget for both time and money. If the home has not been fixed up - are you a do-it yourself-er? Will you hire someone? Do you have any idea how much it may cost to hire someone to do the chores? Do you have any idea what you may need to do if the plumbing breaks while you are replacing a sink?

Buying an older home can be very rewarding, but it also may be very costly. Consider your investment wisely, before offering to purchase.

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