When looking for a new home, whether you’re a first time buyer or seasoned owner, buying an older home can be enticing when compared to the cost of a much newer home. But should you look at older homes if you do not have room in the budget for repairs, renovations or necessary improvements? How about if you are sensitive to environmental conditions like dust, mold or other air quality issues?
Older homes undoubtedly have character and charm that may be missing in newer tract housing (not to mention small lots on which new homes are built). However, older homes can have a plethora of problems plaguing them, even when they are in livable condition. Depending on the amount of work that has been performed on an older home, every facet of the structure from the roof to the foundation and every system between, likely needs some amount of attention. Because older homes were not built to the higher standards, regulations and permitting exercised today, older homes often have sagging roofs, floors and weak foundations from inadequate quality control of concrete mixes and / or poor construction techniques.
One of the biggest problems with older homes is the lack of any flashing components whatsoever. Without the installation of flashing materials, one must meticulously monitor, maintain and repair sealant to avoid moisture intrusion problems. And with moisture intrusion, comes the potential for mold, rot and wood destroying organisms. Almost nobody examines or maintains the exterior of their home as needed to prevent even minor damage. Because flashing materials, when properly installed, do not require maintenance to deflect water from the structure, newer homes will have much less moisture intrusion problems and require significantly less maintenance and costs associated with repairs.
It’s not just building techniques and procedures that have improved, but the materials which are used have changed significantly. Older plumbing systems still containing cast iron and galvanized pipes are past their life expectancy and usually in some phase of failure. Not to mention the 80 year old + sewer mains that are either clay, concrete, cast iron or hopefully not orangeburg (bituminized fiber pipe made from layers of ground wood pulp), or the undersized and aged water main from the street. Let’s not neglect to mention the electrical system. From outdated, dangerous and ungrounded knob and tube, solid aluminum branch conductors or even recalled electrical panels, of which the class action lawsuits are long over and are now the sole responsibility of the homeowner. While we’re looking at the entire house, let’s throw in the HVAC system, if it has one. Older homes can be more drafty and can leak air considerably. Not to mention older single pane windows, even if retrofitted with newer windows to “save” on energy, there typically is no insulation in the walls, sometimes a little in the attic and almost never under the floor. So do the windows actually help? Older heating systems are inefficient and can be costly to repair or replace if needed and will be working overtime to keep an old home comfortable, which also costs you more in energy.
Unless many of these aspects of an older home have been addressed correctly, the enticing lower cost and payment are likely a trap for the uninformed and inexperienced. Although beautiful, most older homes should be approached cautiously and repair costs carefully calculated.