Older homes (built in the 1800s early 1900s)

[Onyx]

I've been starting to look around at houses for sale lately. It should be a fun happy experience but it's very bittersweet because I really do not want to live here in west Michigan. (I had hoped to convince my ex to move since he has friends in eastern Michigan also, but no go. We are court ordered to live here or if we move, within 100 miles of each other due to joint custody). With that said, I'm sick of renting and if I can't move I might as well buy.

I talked to a buyer's agent and she showed me a few newer houses, but I find myself looking at these beautiful older homes here. Some of them were built in the 1800s and early 1900s and I love the wood floors and the elegant designs. I find I do not like anything built after around 1950 or so.

It bothers me that these houses are priced way lower than the newer ones. Not just a little bit lower either, around $10,000 lower! I'm wondering why most of them are not as valued. I would think with the beautiful woodwork and not being a cookie-cutter ranch style they would be even more expensive.

Most seem to have good heating systems. I'm wondering abou the insulation, but that's fairly fixable, correct? The one I looked at this weekend had had the windows replaced recently and new roof, new furnace and electrical, and the asking price had been reduced to $94,000 - and this is a farmhouse-style place with 5 bedrooms! Only one bathroom and little closet space, which is the main drawback I see to these older homes, but I think a bathroom could be easily added in a few years, and the closet space problem to me would be a small price to pay for the beautiful style of these homes.

Have any of you lived in a home this old? Were there problems with the age of the home I'm overlooking here?

[holliwood66]

There can be many hidden costs in buying an older home. Through evaluation by a home inspector and access to maintenance records are essential. Usually homes of this age are remarkably solid...but look for water/plaster/roof damage, faulty foundations, listing, cost of new heating/electrical/and especially plumbing. They can be expensive to heat as well and new windows to fit an old home can be expensive as well.

I am hoping to buy a farmhouse for my next digs...I love older homes as well.

Oh yeah, one more thing. Sometimes you have to go through a historical board to do house repairs/modifications...this can be a serious hassle.

[Onyx]

Yes, that's another thing that concerns me -- finding a good home inspector. The house I had here before had a faulty furnance and we didn't get a warranty. Not sure if the inspector should have spotted it, but we ended up replacing the furnace within 5 months of moving in.

Hmmmm, maybe with the lower house payment I could set aside enough $$$ to be sure to have some on hand for repairs and updating.

[Lilith]

I've been starting to look around at houses for sale lately.  It should be a fun happy experience but it's very bittersweet because I really do not want to live here in west Michigan.  (I had hoped to convince my ex to move since he has friends in eastern Michigan also, but no go.  We are court ordered to live here or if we move, within 100 miles of each other due to joint custody).  With that said, I'm sick of renting and if I can't move I might as well buy.

I talked to a buyer's agent and she showed me a few newer houses, but I find myself looking at these beautiful older homes here.  Some of them were built in the 1800s and early 1900s and I love the wood floors and the elegant designs.  I find I do not like anything built after around 1950 or so.

It bothers me that these houses are priced way lower than the newer ones.  Not just a little bit lower either, around $10,000 lower!   I'm wondering why most of them are not as valued.  I would think with the beautiful woodwork and not being a cookie-cutter ranch style they would be even more expensive.

Most seem to have good heating systems.  I'm wondering abou the insulation, but that's fairly fixable, correct?  The one I looked at this weekend had had the windows replaced recently and new roof,  new furnace and electrical, and the asking price had been reduced to $94,000 - and this is a farmhouse-style place with 5 bedrooms!  Only one bathroom and little closet space, which is the main drawback I see to these older homes, but I think a bathroom could be easily added in a few years, and the closet space problem to me would be a small price to pay for the beautiful style of these homes. 

Have any of you lived in a home this old?  Were there problems with the age of the home I'm overlooking here?

<{POST_SNAPBACK}>

LEad Paint would be a problem as well as weakend structures, the closet space would be corrected by using up some of those extra five bedrooms and perhaps adding newer bigger closet to adjoing rooms or just plain out having a whole room fer your cloths.. :woot: .... updates are allways a plus when you buy an older home ( ask to service orders and reciepts for recent repairs) you know they have atleast taken steps to prevent or repair failing parts. Take in all visiable plumbing and get down and dirty and crawls slither throught every creappy dirty inche of the house from attic to crawls space, look at everything and if it looks odd ask about it alos get a reptuable indepentant Home inspector to make any recomendations and also try to get a home warranty, the seller reserves funds for certain repairs to home with in a designed nated time frame. Look at septic well issues befor you sign anything, also check out all attached buildings, see if yo ucan get a history fro mthe township city for prvious major dmage to home and all up dates and upgrade permits were pulled for. Alos take in consideration allot of homes are going cheap rightn ow because they have been on the market for a long time and noo ne is buying really much at all.

Thats about all i can say alos in older homes it is more of ap ain i nthe ass to reapir things, Like plaster is worse the dry wall, and if you look around detriot home of magnicifent bueaty and craftsmanship go for man mnay thousands lless then its twin home in another area, With being said also take in consideration of the area, is it safe, convient to shopping freeways etc.....

hope this helps

PS.

they can update insulation is a rather easy fashion, the stuff we used would be great as it seaps in to every crack and crevice that could be found in an older home, it will also pass current codes and does not have any type of Food matter for pests of any type, will even wrap it self around current plumbing thus limiting the hcances for freexe that is common in older homes. here is a pic of what it looks like in a new application Seal Tech Insulation it aslo really does not really burn what so ever, trust me we tried..... any how worth looking into for future refrence.

2nd ps, i should really sya i am sure it can catch fire but when you hols a lighter to it will melt more the burn....... and fire happens allot in older homes due to older wires and low amps in service comming in, too little cicuits etc.... with elcetrical you want to see if all new wires were ran or was old and new joined, if you notice anyting make a note and bring it up to home insoector to double check was all done right, also see if your service comming in is at 110 or 220, ideal would be 220..... look for new circuit breaker. fuse box, you want to see switches not anything you have to screw in. Look for a ground wire on the out side of the home, it will be low tothe ground, and basically a bare copper wire, or a coated wire i think in green but i forgot, running from out side meter to a rod hidden in the ground, it should be attached to the rod by an acorn looking nut thing. The upgrade for can cost up wards of $500 or more so it would be best if you can getthe home withthese up grade finished.

3rd ps

check the fuel which is used to heat the home, (oil propane , eletric, natural gass etc...) check prices and delivery and so forth make sure it is some thing that could fit in to your budget.

[Onyx]

That is some good info - thanks to both of you! Some of those things I wouldn't have thought of.

I soooo wish I were looking in the Detroit area. *sigh*

Crime over here isn't too much of a problem (if you ignore that angry mob of torch-waving villagers in the front yard who think I should be burned at the stake, heh heh).

[Lilith]

okay i added a bunch up there but i need to add this too and it is important.....

Have a mold check of the home done, amny older home due to lack of repair or quailty in original build can often have Black Mold, this may not presnt it self to your eye right away so have a pro check for it. The repair of black mold is getting harder and harder to get insurance for and if you do have insurance it is getting real hard to get $$$ for repairs.

ps..... :whistling

Look at basement walls, often at certian time of the years it is hard to tell if they leak, so look for a freash cleaned wall, or on dirty ones look for water marks, also make sure you add this in your Home warranty, i would shoot for two years atthe least with this one. Often it can be as easy as getting some selant paint and painthe inside walls to actually digging around the entire home and resealing fro mthe outside which is by far more expensive then a couple of gallons of sealnt paint at 26 -40 a gallon.

Also roll in some septic, sewer back up protection, often when homes hcange users the sewer get a brain fart n backs up, make sure you can get paid for a guy to come n drill/snake the pipes this can cost upwards of $160, or you cna rent the machine but i am not sure of the costs on that.

[The_Dark]

Things that are going to lower the price on an older home that you cant see.

Electrical Wiring

Better ask if the wiring has been updated in the last 20 years... if not, your going to have problems.

Insulation

Got Draft?

Got Asbestoes?

Roofing

Got leak?

Got Sag?

Water

Got a well?

Is the water good? (ie, lots of iron and other minerals)

[kellygrrrrrl]

One thing to consider is insurance costs when buying an older home.

When a home is PRE-1940.....watch out for the insurance rate hike!

Also, many insurance companies will require you to carry 80-100% of the re-building cost to get what is called "Replacement Cost" on your policy, which most Mortgage companies will require you to do in order to get the loan.

I just did a quote today for a lady who bought a home built in 1930.

The RE-Building Costs came to $240,000 ... the house was only worth $111,000.

In order to give her "Replacement cost" she had to cover the house at $240,000.

The price diff = $1240.00

Some Mortagge companies will only make you cover the loan amount. In that case, fine, we could cover it for $111,000 but to actually re-build this house the way it was built in 1930 would be impossible with only $111,000. Being that is costs $240,000 to rebuild....

Sure you could re-build a very nice home with $111,000 but it would not be the same home.

I was able to give her $192,000 (80% of the RC) at $680 but I can't give her Water Sewer back up, and some of the extra coverages that most homeowners want the security of having.......

I have other options, but the coverage is not really sufficient ecspecially, IF IT WAS a total loss.....now grant it, that does not happen often, but it is only when people have a loss do they want to hear what they SHOULDVE had....

[Hellion]

:devil Definately have a certified inspector look at the house before you buyit, and make sure he is licenced, has a thorough background and is registered with the BBB.ps dO NOT BUY A DE. PARSLEY HOUSE!

[Onyx]

I'm printing this thread out Lots of good stuff here. Thanks so much!

So far that first house I liked is looking good because it's had so many things recently updated. I really need to remember all these things if I end up buying an older home - lots of this I never knew.

[Homicidalheathen]

I know someone who lives in a older house. The only thing was the basement flooded once. Tree roots had gotten so big they had grown through the pipe leading to the street.