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Old 10-27-2017, 04:23 AM
 
56 posts, read 22,714 times
Reputation: 32

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Quote:
Originally Posted by emotiioo View Post
Again, problems have a way of cropping up.

I bought a house a few years ago that had "new" heating, cooling, water heater, etc. etc. The house was 120 years old. I was assured that everything was great. The inspection was great.

Started renovating a bit and found issues that would not have necessarily showed up in an inspection. Plumbing sounds. Drainage issues during heavy rain. Then the water heater got recalled. I had a home warranty so it wasn't a huge deal, but you can never been 100% sure what you are getting. Its always a good idea to have a budget for "just in case" and a better idea to purchase a home warranty.

Older homes need more repairs than new ones. Period. I am not familiar with the "old neighborhoods are bad"-- many of the houses I own/have owned are in historic areas which require a certain level of maintenance. This can be more restrictive than an HOA, so its worth looking into.

I like the way old houses look. When compared with 90% of new construction, I find that I appreciate their character and aesthetic much more. That is the appeal for me on a gut level. If you can go either way you might be better off with a new house.
How did that home warranty work out? I had a policy with American Home Shield and they absolutely would not fix or repair my air conditioning system. They wanted to bandaid it with leak stop and other methods but did not want to properly fix a leak in the cooling coil. It was about a $400 part and around $200 labor but they didn't want to fix it. It had another problem and they told me it would be a whole new system for around $10,000. That is when I told them to leave my house. I fixed it with a $10 switch. I guess my bottom line is never get a home warranty from American Home Shield. They are terrible. I heard others are bad also, but I don't have any experience.
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Old 10-27-2017, 04:52 AM
 
23 posts, read 5,021 times
Reputation: 20
With the right upgrades and maintenance a house from 1925 or older can have a lot more value 30-40 years from now?
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Old 10-27-2017, 05:10 AM
 
Location: Port Charlotte FL
742 posts, read 348,974 times
Reputation: 1952
location should be more of a concern than future value of the house..a million dollar house in the middle of a slum (I know, extreme example) won't be worth squat..here's a thought..buy any house in the next city that Amazon is going to build it's next complex in..
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Old 10-27-2017, 06:27 AM
 
Location: SW Florida
6,393 posts, read 2,450,367 times
Reputation: 13099
Quote:
Originally Posted by NYCresident2014 View Post
I've lived in three homes in the past four years. The home built in the 70's was a mix; not really a good layout but seems to have decent bones.

Long story short, I wouldn't hesitate to buy a 90 year old home. The one we bought had already had the major upgrades- copper plumbing, newer electrical, retrofit AC, and new roof, so that helped.

I had a chuckle over the copper plumbing. I just bought a 1970 house and was told when I had the water heater replaced that I had copper piping and then it should all be replaced.

Apparently here in South Florida the copper pipes oxidize and deteriorate much quicker than the newer stuff.


As for old houses, even though mine is only 47 years old, things have been cropping up since day one. One of the biggest issues I am discovering (just moved 11 days ago) besides the plumbing are lack of closet & storage space which is common in older homes.
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Old 10-27-2017, 08:57 AM
 
3,380 posts, read 5,209,217 times
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My house was built in 1920 and is going strong. We did have to replace some pipes this year which was expensive. Ive been living there for five years and thus far the pipes have been the only significant issue we've had. The house was last renovated in 2008.

There are a lot of older houses by me. If you want to live in certain areas here you almost have no choice.
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Old 10-27-2017, 09:03 AM
 
Location: Virginia
2,624 posts, read 1,041,740 times
Reputation: 6660
Quote:
Originally Posted by chiluvr1228 View Post
I had a chuckle over the copper plumbing. I just bought a 1970 house and was told when I had the water heater replaced that I had copper piping and then it should all be replaced.

Apparently here in South Florida the copper pipes oxidize and deteriorate much quicker than the newer stuff.


As for old houses, even though mine is only 47 years old, things have been cropping up since day one. One of the biggest issues I am discovering (just moved 11 days ago) besides the plumbing are lack of closet & storage space which is common in older homes.
What, you didn't notice the lack of closets and storage space when you were looking at the house?

My 90 year old house has only 2 closets for the entire house, and even those are not original. I wish they hadn't been installed either, because I don't like their placement and would have more flexibility if I could just use armoires in those rooms (both bedrooms). Fortunately the kitchen has lots of cabinets, and I have an original Hoosier cabinet and matching pantry as well. I like the flexibility of choosing individual pieces.
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Old 10-27-2017, 09:12 AM
 
41 posts, read 2,765 times
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Old houses have a lot of unexpected work and repairs.
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Old 10-27-2017, 11:36 AM
 
Location: Nothing, Idaho
1,742 posts, read 692,982 times
Reputation: 2645
Quote:
Originally Posted by l1995 View Post
I live in a suburb of NYC, and many of the houses here are 80+ years old. My current house was built in 1935 and it's awesome! Super adorable and cozy.

My last house in the same suburb (Baldwin, NY) was built in 1920! It was a good house but it was super tiny so we moved out (good for 2 people, a little too small for 4).

We still have the original 1935 Kohler Radiator!

P.S., it's funny seeing people here ask if 50 year old houses are OK when people around here are quick to buy 90 year old houses.
Yes its kind of as though they think entire neighborhoods should be torn down where all the houses are old.
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Old 10-27-2017, 11:54 AM
 
1,262 posts, read 1,231,085 times
Reputation: 2029
My house was built in 1929 and is a three story brick Foursquare on a corner. The problem with corners is they usually have stop signs which means most cars stop and start there and that is noisy. Our house has its old windows which I still hope to restore, but we did put in good Storm windows on most of them. This house has good bones and some things were updated before we got it. The neighborhood leaves a lot to be desired but we don't go out much. Very little yard to take care of. I love the house, it has good vibes, like it was happy we bought it.
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Old 10-27-2017, 11:56 AM
 
Location: Youngstown, Oh.
4,594 posts, read 6,799,401 times
Reputation: 3882
Quote:
Originally Posted by deancare View Post
With the right upgrades and maintenance a house from 1925 or older can have a lot more value 30-40 years from now?
I would think it's nearly impossible to predict what the real estate market for an area will be like in 30-40 years. The age of the house, I think, will be a minor factor affecting that selling price, as long as it remains comparable to its neighbors.


Me? I bought an old house because I'm handy, and I love old houses. I'm trying to preserve as much as I can in my house. I don't plan to replace the 60+ year old furnace until it breaks. An electrician--that I have a great deal of respect for, not just some guy I found in the phone book--suggested that I don't need to replace the knob and tube wiring. Instead, just augment it with new circuits for things with a heavy load, or for things that need a ground. (like appliances and electronics) As long as it hasn't been molested, or covered in insulation, K&T is perfectly safe for lighting. And, of course, I still have the original 115 year old windows. Because I also have storm windows, they are about as efficient as replacements, anyway.


I say all of this for two reasons. One, if you're not handy, the little projects will "nickel and dime" you to death, as you need to call a handyman to do them. Two, take all of those "must do" upgrade lists with a grain of salt.
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