Buying an older home can work in your advantage in many ways: the price is lower, it holds precious memories for you, it has historical value, etc. Old properties are treasures for some buyers, and they are thoroughly searching for the perfect piece of history to make their own and live in. This idea seems to be more and more popular, as the new millennium seems to quickly drift further away from older, simpler times.
Nostalgia and a passion for vintage and antiques may be the primary factor in deciding to buy an old house, but it should come with some precautions. Let’s see what you should consider before investing in an old property, as our top real estate agents (Lakeland, FL) advise.
1. It Is Old
We are not joking. The first thing you need to think about when buying an old house is that everything about it will be old. The plumbing, the materials used, the wallpapers, the wood beams, everything has been there for many years. You might not realize how many modern things you take for granted until you move in one of these old houses.
The question is – how much of it can you update (if you feel the need to). For example, if old plumbing is an issue, it will cost you a huge amount of money to get it replaced, and the restoring might affect the whole structure.
2. It Might Not Be Safe Anymore
There is a good reason horror movies always happen in old houses: they creak a lot, and you might get hurt just by walking in them. This is a very important issue to consider when buying an old house, especially if you plan on moving in it right away. Because of the old technology being used, old materials that have eroded over time, and unknown maintenance levels, you might have a safety issue that is not really visible when you are looking for old houses for sale in Lakeland FL.
This is why you will need to hire experts to evaluate your house and decide how safe it is and what needs to be reinforced, replaced, etc. This will cost you additional money that can make the difference between buying a cheap old house to buying an expensive, pretentious museum piece.
3. It Might Not Have Historical Value
If you are buying an old house with the purpose of restoring and reselling for its historical value, you really need to know what you’re doing. Just because a house is old, it doesn’t mean that it will be considered a valuable antique. You don’t know all the repairs and treatments it received. Again, you will most probably need to hire experts to assess the true value of the property.
Do you have questions about an old house in Lakeland, FL that you fell in love with? Contact Re/Max to get an expert opinion! 863.802.5262