Older homes have a unique charm about them that makes them attractive and inviting. If you’re considering buying an older home, here are some home buying tips you should think about before you sign on the dotted line.
Consider the Floor Plan
The first thing to consider is the floor plan. Many older homes may have awkward floor plans, or contain rooms that are not really functional. When walking through a home, think about whether or not you could live with the floor plan the way it is, or if you would need to remodel in order to make the space more user friendly. If so, consider the cost of the remodeling project carefully when placing a bid in order to ensure you have enough money left over to complete the job later.
Always get an Inspection
All homes should be carefully inspected before you agree on a purchase price. During an inspection, ask to accompany the inspector through as many areas of the home as possible to ensure that nothing is overlooked. In doing so, you’ll also be able to get a better look at the home, and may notice some minor flaws you hadn’t discovered before. Be sure to take notes of your findings so that you can think about whether or not these flaws are ones that you could easily fix yourself. After that, look at the inspector’s report, and make note of any major problems so that you can consider them as well.
Consider Major Maintenance Timelines
You should also consider things that may go wrong in the future. For example, if a home is more than 20 years old, you could find yourself needing to replace an HVAC system or put on a new roof in a short amount of time. Even if no major repairs are needed now, you should nonetheless consider ones that may be needed three to five years down the road before making an offer.
By using due diligence, you can find an older home that is affordable and will meet your needs precisely. As a result, you should have many years of enjoyment out of your investment.