Stay tuned to our latest news!

Wanna get all our articles right into your mailbox? Fill in the fields below:

Join Now!

All your personal data will be kept secure and will not be shared with any third parties.

The Hottests Topics On The Market

Problems to Look for When Buying an Old House

May 9, 2019 at 7:23 pm Diana Smith 0 Market Trends, Tips & Tricks, Top Real Estate

There are a lot of benefits of purchasing an old house. First of all, it’s almost always a less expensive option even when you include the cost of the fix-up. Secondly, the quality of construction is usually excellent which is proven by the fact that the home has lasted that long. Lastly, there’s a charming rustic feeling to these properties that many find appealing.
However, it’s important to note that these homes often come with many issues that will require the owners’ attention right away and be expensive to fix. Keep in mind that those costs could be deducted from the price of the home.

Asbestos

Australian contractors used asbestos all the way to the ‘80s until its dangerous effects were proven and it became illegal to do so. It’s imperative that you ask (and check) if asbestos was used in the construction of your property.
If this is the case, there’s nothing you can do but tear the walls down and build new ones. This is a large project and many choose to give up on the property in this kind of situation.

old

Foundations

Old properties often have problems with the foundation due to their age. These problems could be something as simple as having some cracks develop over time or they could be rather complex as the foundation sinking into the ground. This is the first thing you should inspect when you’re purchasing a home.
It’s quite possible that cracks don’t need to be fixed at all since they don’t jeopardize the safety of the home. However, if the problem is bigger than that, you might have a large construction project on your hands that will greatly add to the cost of the home.

old

Air quality

Air quality isn’t an issue many think about when they purchase a home. However, it’s something easily noticeable once you start spending time in the house. Luckily, finding experts for air quality testing in Brisbane is easy, so you should test the home before you buy it.
When you figure out how much dust, asbestos fibers and other dangerous substances is in your air, you can decide on what to do next. For the most part, this will mean you’ll need to invest in improving your air flow and home insulation, which aren’t always small investments to make.

old

Electrical wiring

As we all know that the technology that an average family uses is changing every year and becoming more complex over time. Often, old houses cannot handle these new technologies since their electrical wiring isn’t suited to such appliances and gadgets. Sudden loss of power could also damage your appliances so it isn’t an area to take risks in.
Old wiring known as knot and tube wiring should simply be replaced before you enter the home. It will cost you more, but most importantly, it will prevent you from using the home as soon as you would like.

old

Insurance costs

In the end, not all problems with old homes are technical in nature. Some are more of a financial burden and these too should be taken into account when making a purchase. Old homes are more likely to have problems, as we mentioned before, which makes them harder to insure. In term, this means that your insurance premiums might be more costly if the home is old. This is the case even when there’s nothing visibly wrong with the property and it’s a cost you will have to take on.

old

In conclusion

Buying an older home could be a great financial decision, but it also comes with its set of problems. You’ll need to choose carefully since the cost of repairs could take a bite out of your purchase budget.

Diana Smith

Diana Smith is a full time mom of two beautiful girls simply in love with interior design and DIY projects. In her free time she enjoys exercising and preparing healthy meals for her family.

Previous post
How to Prepare Your Pool for Summer
Next post
Why have a building inspection before renting your property?

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.