Don't Forget To Look At These Things When Buying An Older Home

If you're buying a home in a somewhat limited budget, you will probably be looking at a lot of older homes. There are a lot of really nice older homes out there, but you do have to be careful — because there are some money-pit landmines, too. Don't forget to check for these things when you're looking for older homes to buy.

What are the pipes made from?

Some older homes have galvanized steel piping. The problem with this type of pipes is that once the zinc layer wears away inside of the pipe, they start accumulating rust. And once the pipes start getting rusty, you get rusty water and you might get leaks. Steer clear of a home with galvanized piping. Look instead for one that has copper or PVC piping. Copper was pretty standard after 1960, so there are plenty of 50- and 60-year-old homes out there with copper pipes. In homes older than this, you will sometimes find that a previous owner has replaced the galvanized pipes with copper or PVC, which means you won't have to do so.

Are there signs of foundation trouble?

Almost all problems with interior walls, floors, and ceilings are pretty fixable. Problems with the foundation, on the other hand, can cost tens of thousands to fix — and they can lead to wetness and instability in the meantime. Keep a really close eye out for signs of foundation instability such as cracks in the basement walls, uneven door frames, and sloped floors. If there is any question as to whether or not the foundation is truly sound, walk away.

Is there adequate insulation?

Years ago, homes were built with little to no insulation in the walls. Someone may have added insulation after the fact, however. If the homeowner does not offer up information about the insulation, ask whether insulation was ever added. If they are unsure, the answer is probably "no," since added insulation is typically a bragging point when selling a home. You don't necessarily need to walk away from a home because it is poorly insulated, but do make sure you budget to have insulation added upon moving in.

If you have any questions as to what to look for when buying an older home, talk to your real estate agent about single family homes for sale in your area. They can tell you what previous clients have looked for an give you a more thorough list of possible red flags, depending on your budget and the area you're shopping in.