What Can I Expect When Purchasing an Older Home?
Often, people who are looking to save money on a home purchase in Florence, will buy older homes as opposed to new construction. There are other perks to older homes, too. For instance, they’re usually in well established neighborhoods and tend to have more character than your modern “cookie cutter” variety. However, be aware that although buying an older home can initially be more cost effective, the dollar signs may start piling up once you move in.
You may need to make upgrades. Besides, the obvious upgrades of say electrical or plumbing if you’re in a home built in the early 1900s, you may also want/need to replace 1960s shag carpet or remodel the kitchen to add a dishwasher. It’s certainly something to think about as upgrades for safety and taste can certainly add up.
You may also need to replace old parts. New homes are favorable for some because they can be certain that the appliances and roof will “ideally” be in good working order for quite a while. However, when you purchase an older home, you will probably have to replace something. It could be fairly simple like the appliances and roof mentioned or it could be the foundation. Other things that may need replaced in an older home are the furnace, water heater, or switching old single pane windows to new energy efficient windows.
There is certainly no arguing there are advantages to buying an older home: great purchase price, well established neighborhoods with mature trees and good sized lots, construction that has character and quality you can trust, and more. However, it’s always a good idea to go into any investment with your “eyes open” so being aware of potential costs with an older home will set you on the right track to owning your dream property.