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| Making the Best Decisions When Purchasing an Older Home |
coldwell banker malibu
2) Remodeling
Many people purchase an older home with the intention of remodeling it in order to make the house more
comfortable and raise the home value. Like many equations in life, the decision to remodel an older home boils down
to time or money. If you decide to spend more of your time and less of your money, you’ll need to be handy and
have your weekends free of other commitments for several months. If you prefer to save your time, but spend more
money, your real estate agent can refer you to a contractor who specializes in raising house value by remodeling
older homes.
3) Zoning Issues
Before you purchase an older house with the intention of remodeling and raising the home value, be sure to
investigate the zoning regulations. Many older homes come with zoning restrictions, including pre-determined
setbacks from property lines, limits on roof height, etc. If the home is on a municipal historic register, regulations will
likely be even more stringent in order to preserve the house’s historic character. If you’re considering alternative
uses for your older house, like turning it into a commercial office, building an in-law apartment, etc., be sure to ask
your real estate agent about zoning specifics.
4) Cost of Operations
Higher repair and maintenance expenses should be factored into the budget when calculating the total cost for
purchasing an older home. Renovations, repairs and even pre-purchase inspection costs can be considerably
higher than if purchasing a newer house. Also, the lack of modern insulation materials means bigger gas and electric
bills in order to heat and power the house. And, major appliances, plumbing and heating systems will likely need
maintenance within the first few years of your ownership.
5) Termites
In an older home, it’s possible that termites and other wood destroying insects could have damaged timbers and
structural supports for years before they were detected. It would be highly unusual for a house to survive for 100
years without any kind of termite/ant/beetle infestation. It’s important to determine whether there are any signs of
current infestation, and the extent of the damage of past infestations. If a wood destroying insect has eaten away at
the structural support of a house for a significant amount of time before being discovered, you may need to add
some reinforcement to the beams and posts in the basement. It is also very important to protect against future
infestations. You may want to consider having a pest control company do preventative treatments as well as periodic
visual inspections.
The staff at Coldwell Banker Real Estate LLC writes select articles about important topics related to real estate. For more information about buying a home or selling your current property, visit ColdwellBanker.com today.
Many people purchase an older home with the intention of remodeling it in order to make the house more
comfortable and raise the home value. Like many equations in life, the decision to remodel an older home boils down
to time or money. If you decide to spend more of your time and less of your money, you’ll need to be handy and
have your weekends free of other commitments for several months. If you prefer to save your time, but spend more
money, your real estate agent can refer you to a contractor who specializes in raising house value by remodeling
older homes.
3) Zoning Issues
Before you purchase an older house with the intention of remodeling and raising the home value, be sure to
investigate the zoning regulations. Many older homes come with zoning restrictions, including pre-determined
setbacks from property lines, limits on roof height, etc. If the home is on a municipal historic register, regulations will
likely be even more stringent in order to preserve the house’s historic character. If you’re considering alternative
uses for your older house, like turning it into a commercial office, building an in-law apartment, etc., be sure to ask
your real estate agent about zoning specifics.
4) Cost of Operations
Higher repair and maintenance expenses should be factored into the budget when calculating the total cost for
purchasing an older home. Renovations, repairs and even pre-purchase inspection costs can be considerably
higher than if purchasing a newer house. Also, the lack of modern insulation materials means bigger gas and electric
bills in order to heat and power the house. And, major appliances, plumbing and heating systems will likely need
maintenance within the first few years of your ownership.
5) Termites
In an older home, it’s possible that termites and other wood destroying insects could have damaged timbers and
structural supports for years before they were detected. It would be highly unusual for a house to survive for 100
years without any kind of termite/ant/beetle infestation. It’s important to determine whether there are any signs of
current infestation, and the extent of the damage of past infestations. If a wood destroying insect has eaten away at
the structural support of a house for a significant amount of time before being discovered, you may need to add
some reinforcement to the beams and posts in the basement. It is also very important to protect against future
infestations. You may want to consider having a pest control company do preventative treatments as well as periodic
visual inspections.
The staff at Coldwell Banker Real Estate LLC writes select articles about important topics related to real estate. For more information about buying a home or selling your current property, visit ColdwellBanker.com today.
Often times, older homes tend to be located in established neighborhoods with an existing
history of mature houses. Still, older homes come with their own set of issues. In order to
make the best decision, consider discussing these points with your real estate agent.
1) Structural Issues
The structural condition of older homes can vary greatly. It if has been maintained, the
structure of an older house will likely reflect the quality craftsmanship of earlier times and will
only need minor repairs, reinforcement or maintenance. More recent additions may have been
built to a lower standard than the original home, and can need major repairs or renovations. If
the original building has not been well maintained, you may be in for a serious structural
overhaul. Neglected crawlspaces can have foundation and floor structure defects. Continuous
water intrusion or past fires could have damaged structural areas that are now concealed. Be
sure your home inspector investigates the structure of an older house thoroughly.
history of mature houses. Still, older homes come with their own set of issues. In order to
make the best decision, consider discussing these points with your real estate agent.
1) Structural Issues
The structural condition of older homes can vary greatly. It if has been maintained, the
structure of an older house will likely reflect the quality craftsmanship of earlier times and will
only need minor repairs, reinforcement or maintenance. More recent additions may have been
built to a lower standard than the original home, and can need major repairs or renovations. If
the original building has not been well maintained, you may be in for a serious structural
overhaul. Neglected crawlspaces can have foundation and floor structure defects. Continuous
water intrusion or past fires could have damaged structural areas that are now concealed. Be
sure your home inspector investigates the structure of an older house thoroughly.
