People buy old homes to save money. Houses that are 15-20 years old cost less than houses that are 4-5 years old. Besides, old houses are situated near the center of a town, which makes it easy to go to any place.
Many old houses that are out of town have shops, school, recreation centers, playgrounds and bus stops in nearby locations, so they could be conveniently accessed.
There are plent other pros of living in an old house (not a dilapidated one, though). But buyers of old homes often report they have to unnecessarily spend money out of pocket. Let’s find out the hidden costs that bug old home buyers:
Old houses sometimes don’t have windows in the proper locations. Because of this installing an air conditioner becomes difficult. The new house owner has to pay couple of thousand bucks to fix everything.
That’s a serious problem. All roofs, no matter how durable they are eroding over time. The roof of a house that was built 15 years ago, was wearing out and unless it is replaced, it may cause the house to damp. Very few old houses have roofs made of lifetime designer shingles. Most have 3-tab shingles, which offer a guarantee period of 20 years max.
Painting the outside
Painting the exterior walls is not only for aesthetic purpose but also to make sure the house stays safe by weather conditions. The problem is the cost. Some house owners go for DIY. DIY exterior house painting saves money but wastes time.
Plus, it involves risks as you have to climb high up to pain the cornices. Expert painters can discriminate between top quality and poor quality colors, which ordinary house owners can’t. Put it simply, you’ll see your hard-earned money being disbursed for exterior painting.
Limited storage area
In the past, people were not so much into furniture and their houses had limited storage area. But we boast of decorating our living rooms with the coolest furniture. Don’t forget home appliances and electronic gadgets.
People from this generation buys things that they don’t need. As a result, when they move to an old home, they find a dearth of space for all their stuff. The inner structure of an old house can aggravate this problem because n such houses, the edges are imperfect and the floors are overly sloped. To work on the floor and on the inner walls, you have to shell out a good deal of money.
Almost 7 out of 10 people, who move to old houses complain that they electrical wiring is frayed or the insulation is crumbling. To make it even worse, it’s not something that you yourself can handle. If the house has concealed wiring, then you’ll have to gouge out some of the plaster to repair the faulty wiring.
Old houses are not energy efficient. The owner of an old farmhouse reported the monthly heating bill he received was well over $300. They owner had to add insulation to the walls to increase the house’s energy efficiency level. There are cost-effective ways to insulate the inner walls of a house but cost money.
Insulating the house without taking down the drywall is possible but only an expert can pull it off because he has the knowledge that you don’t. For example, you can insulate the attic using either one of batt and roll as both have same R-value. Using spray foam doesn’t require the removal of drywall but again, this is something that insulation experts know and hiring them costs money.
The majority of older homes have masonry chimneys. Masonry chimneys are notorious for creosote deposit. Metal chimneys offer better insulation and prevent the deposition of soot and creosote. To remove the old chimney and to install a new metal flue, you need professional sweeps. The DIY option is there, but if you handle the work yourself, quality of the work might suffer.
In case of older homes, water on the surface level is soaked by the house, resulting in damp. Newer homes, on the other hand are damp-proof. Insulating the outside walls lead to the moisture being preserved.
For a permanent solution, the pipes, drainage and the gutter need to be carefully checked for any blockage. Old guttering installations need replacement. Window frames and cracks on the wall need immediate fix. You should find a professional and pay him to handle all these.
Investigate before buying
That’s right, and ask straightforward questions to the existing homeowner. Ask him to show you the energy bills so you get a fair idea of whether insulation will be needed. A thorough investigation before you buy a house can save you plenty of your hard earned money.
What do you think of the article? Would you buy an old home? Let us know in the comments