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Old 05-14-2014, 11:09 AM
 
35 posts, read 66,158 times
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What would be the concerns, if any, to look for if buying a house that was built in the early 1960's?
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Old 05-14-2014, 11:35 AM
 
Location: Palm Island and North Port
7,511 posts, read 22,922,074 times
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Is it in a flood zone? If so, then the main concern would be flood insurance. Has anything been updated? Windows, roof, A/C, etc?
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Old 05-14-2014, 12:08 PM
 
Location: Port Charlotte, Florida
165 posts, read 254,052 times
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Also a concern is the roof ties to the tie beam or lack thereof. IE Hurricane straps. Electrical system also. If it has a Federal Pacific Electric, FPE, main service panel it will most likely have to be replaced to get insurance. Also, is the electrical system safe? Cloth wrapped wiring? Is aluminum branch wiring present? Does it have an ungrounded system i.e. 2 proge outlets, remember those? Does it have and still use cast iron vent stacks? They rust from the inside out and by now have become an issue with blockage of air and possible leaks. And so on. Recommend a good home inspection on any pending home purchase.
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Old 05-14-2014, 01:02 PM
 
Location: Lemon Bay, Englewood, FL
3,179 posts, read 6,002,426 times
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What the other have said plus! Older homes aren't bad, it's just getting insured can be a P.I.A. if upgrades haven't been done. When we bought our 1970 home in 2009, we were never even asked about the electrical system. Now that we're selling, the new buyer's can't get insurance unless the Federal Pacific panel is changed out and alumiconn connectors are installed at every single switch, recep, and light device that has aluminum wiring. I just got quotes today. It's going to run around $2,500 total, which I'm hoping the buyers will split 50/50 with me since they are the ones getting all of the benefit from this.
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Old 05-14-2014, 01:06 PM
 
Location: Port Charlotte, Florida
165 posts, read 254,052 times
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Quote:
Originally Posted by Harbor Hopper View Post
What the other have said plus! Older homes aren't bad, it's just getting insured can be a P.I.A. if upgrades haven't been done. When we bought our 1970 home in 2009, we were never even asked about the electrical system. Now that we're selling, the new buyer's can't get insurance unless the Federal Pacific panel is changed out and alumiconn connectors are installed at every single switch, recep, and light device that has aluminum wiring. I just got quotes today. It's going to run around $2,500 total, which I'm hoping the buyers will split 50/50 with me since they are the ones getting all of the benefit from this.
Just curious do you happen to know what part of that quote is for the FPE main service panel changeout?
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Old 05-14-2014, 01:09 PM
 
Location: Lemon Bay, Englewood, FL
3,179 posts, read 6,002,426 times
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Between three electricians, all were $1,200-1,400 since it is a back-to-back installation (meaning the panel is on the same wall as the outside meter, directly behind it). This includes permit, new grounding rod, breakers, etc...
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Old 05-14-2014, 01:14 PM
 
Location: Port Charlotte, Florida
165 posts, read 254,052 times
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Quote:
Originally Posted by Harbor Hopper View Post
Between three electricians, all were $1,200-1,400 since it is a back-to-back installation (meaning the panel is on the same wall as the outside meter, directly behind it). This includes permit, new grounding rod, breakers, etc...
Thanks! I get asked this frequently. My guesses were about right.
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Old 05-14-2014, 01:53 PM
 
Location: Englewood, FL
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Cast iron drainage pipe. Nightmare.
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Old 05-14-2014, 03:13 PM
 
Location: Lemon Bay, Englewood, FL
3,179 posts, read 6,002,426 times
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Quote:
Originally Posted by coastal chic View Post
Cast iron drainage pipe. Nightmare.
100% agree!!!! An old cast iron pipe is easily half it's original inside diameter, and they're likely to break open if you try to have them bored out, then it's big bucks $$$ to replace. If you're buying one with old cast iron drains, have a plumber inspect each main line with a camera
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Old 05-14-2014, 03:20 PM
 
Location: Palm Island and North Port
7,511 posts, read 22,922,074 times
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Basically you should probably just bulldoze the house and start again. J/K.

Then when you fix all of these things you run into the 50% rule. 50% Rule Information
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