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Old 02-27-2008, 10:04 AM
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Default older homes

I am considering selling my 80s condo and buying a SFH. The area I want to live mostly has older homes, some small ranches built in the 60s (that seem solidly built) and some larger homes built in the 50s (not sure about the construction). I am not the handiest guy but can do small maintenance (changing electrical outlets, toilet uprades etc) but I am not looking for a fixer upper. My question is if I found a home that has been renovated can I expect to continually have to fix things? The condo is my first real place and I want to know what to expect going into an older home.
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Old 02-27-2008, 10:12 AM
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Default old home

I personally dont consider a home in the 50s or 60s "old"

I have a house built in 1920, and when I originally got it, 4 years ago, it was in great shape, nothing to really update. So far, no problems other than a thermocoupler breaking on my furnace, which was a $100 fix.

I like older homes more than new homes, especially tract homes in new developments
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Old 02-27-2008, 10:17 AM
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First off PLEASE get an inspector. If they find nothing major wrong you are already ahead of the game. I purchased my 40's model home in '00 and have done mostly small maintenance to it. Replaced the gutters, painted the outside, replaced 2 windows, misc. caulking and etc. Nothing major, just little things here and there. Just keep your eye on things as you go around and you will avoid anything major in the future. It probably amounts to less than $200 a year. I think that's less than the condo fees yes?I honestly don't think there is much that you can't handle. Except that stinkin' lawn mower that won't start! Now THAT, my friend, will tick you off! lol
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Old 02-27-2008, 10:24 AM
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haha, I definitely intend to get an inspection. Luckily, I work in a real estate dept so am familiar with inspections, mortgages and all of what that entails. I am hoping for a smallish yard since it is just myself. Oh, and yes those condo fees DO add up. I am currently paying about $1500 per year.
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Old 02-27-2008, 11:04 AM
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If considering a property with a water well, have a well driller check the water system. The water should be run at least four to five hours, not five minutes. I received another call this week, the people moved in mid-January. Inspection pasted, the well is 30 or more years old. They need a new well.
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Old 02-27-2008, 12:27 PM
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In a home of that vintage, unless it was completely gutted and remodeled, there will always be "little things" that need to be done, as well as "big things" that will come along on a less frequent basis. A window will have a rotten sill, a roof leak will develop, you'll find you need additional electrical outlets/circuits for the computer, big screen, etc., the toilet will leak at the flange and rot the subfloor, etc., etc., etc.

Whether these issues occur in a house that has been renovated will depend on the level of quality of the renovation- if the house was a "quick flip" reno, stay away at all costs- you'll find some of the cheapest, most half-assed work ever done. If it was a "here and there" renovation done by long-term owners, the quality may or may not be so good. If the work was done by licensed contractors, you stand a good chance of not having too many issues.
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Old 02-28-2008, 01:25 PM
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All homes have maintenance issues. Older homes have more only if they have been allowed to build up for longer. Almost all older homes are built better than new homes. However new homes have the advantage of maintenance free technology and materials.
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Old 02-28-2008, 09:48 PM
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Quote:
Originally Posted by citydweller View Post
I am considering selling my 80s condo and buying a SFH. The area I want to live mostly has older homes, some small ranches built in the 60s (that seem solidly built) and some larger homes built in the 50s (not sure about the construction). I am not the handiest guy but can do small maintenance (changing electrical outlets, toilet uprades etc) but I am not looking for a fixer upper. My question is if I found a home that has been renovated can I expect to continually have to fix things? The condo is my first real place and I want to know what to expect going into an older home.
New home construction since the 1970's is very very poor. As a long time claims adjuster, the horror stories I could tell you. For every 1 house pre 1960 that I see get condemned, I will see 10-12 newer homes. Walls not lagged to the foundation, roofs collapsing, split wood framing... it never ends. Here's a true story. I had to work a cat loss in an area a few years ago that had over 40" of snow on the roofs. 100% of the houses with damage were built after 1960. About 600 houses had damage. every...single...one...was...a...newer...house.


When I purchased my home, I intentionally bought one built before 1960. Kiln dried fir in the frame, well poured foundations (no cracks after 50 years), rock solid walls... The down side would probably be electric. Some of the older houses are not updated and chasing wires can be tough. But overall, a pre 1960 house will stand the test of time.
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Old 02-28-2008, 11:49 PM
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Quote:
Originally Posted by citydweller View Post
I am not the handiest guy but can do small maintenance (changing electrical outlets, toilet uprades etc) but I am not looking for a fixer upper. My question is if I found a home that has been renovated can I expect to continually have to fix things? The condo is my first real place and I want to know what to expect going into an older home.
If you buy a home that has been completely renovated, you'll pay top dollar and you probably won't have a lot of use for the small maintenance skills you possess.

And if you do go looking for a completely renovated home, be sure it's not just cosmetic renovations. A lot of homeowners will spend the money to revamp the kitchen so it all looks new, but they won't redo the plumbing.

So you want to see what systems have been renovated or completely redone. Retrofitting an older home with new systems can sometimes be tricky and it's always expensive. You don't want to buy a home where the homeowner has skimped on new systems. I'd rather buy a home with the old systems in place and I'll redo them myself (and buy the house at a cheaper price to compensate for the older systems).

If you love older homes and older neighborhoods, I don't see any reason not to go for that home built in the 50's or 60's. Bringing a home back to it's former glory is a gift for the home and the community and I encourage you to do so if you are inclined.
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