If you’re looking to buy a home, you’ve probably looked at a lot of them, and perhaps you’ve fallen in love with an older home. Unlike newer construction, older homes often have a lot more charm and features not often seen in new homes. Perhaps you’re tempted by the low price of an old fixer-upper, or maybe you love the idea of living in a quaint historical district. Before signing on the dotted line, here are some things to be aware of when buying an older home.
Older homes may have hidden issues that could serious problems. Be sure to have any older home you’re interested in inspected for termites, mold, lead paint, outdated wiring/and asbestos. The older the home, the more likely finding lead paint and other hazards is. If problems are found, the seller should be willing to fix them, or if you’re okay with fixing them yourself, knock something off the asking price to compensate you. If you’re looking for an older home, for your own protection it’s best to go through a realtor rather than for sale by owner. You can use Google to search Chattanooga homes.
If you’re interested in a home located in a historical district, remember that you will have strict rules to follow regarding what changes you can make to your home. Many districts even dictate what colors you can paint your house. Be sure you are willing to give up a little freedom if you want to buy this type of old home.
On the plus side, owning an old home is like owning piece of history, and they have a certain warmth and charm compared to today’s often cookie-cutter construction. Old home tend to boast really high quality materials such as rich woods, marble and stained glass. As long as you do your homework first, they can be a wonderful investment!