The Pros and Cons of Buying an Older Home

Older homes that have been around for 100 years or more come with plenty of charm, but they may pose certain challenges that some homeowners aren’t prepared to handle.

To help you decide whether you’re ready for an older home, check out this list of pros and cons. There are two sides to every coin, so make sure you read to the end to see how each pro could be another’s con — or vice versa!

Pro: They’re Built from Strong Materials

Have you ever heard someone say, “they don’t build them like they used to” when discussing older homes?

In some cases, it’s true. Century homes took time to build, as they didn’t have many of the automatic tools and mass-produced materials that we do today.

Instead, they used solid materials like old-growth lumber, stone foundations, dense plaster lathes, and real hardwood flooring that stand the test of time.

Con: They Need a Lot of TLC

An older home may have good bones, built from solid long-lasting materials, but there could be hidden problems concealed under your lath and plaster walls.

Today’s building standards didn’t exist back then, so people were able to wire their houses or attach plumbing any way they saw fit. There were also no efficiency standards, so older homes tend to leak a lot of heat out of single-pane windows and low-grade insulation.

Eventually, you’ll need to address these issues, but you can’t always control when and how you repair things. You need to rehab dangerous knob-and-tube wiring right away. The same goes for replacing an old boiler that stops working mid-winter.

This work may cost more than you expect because of the age of the original parts. To be safe, some realtors recommend saving one percent of your mortgage payment for each year of your home’s age. You can follow these tips to cut costs, too.

But if that’s not enough, you can go online for an installment loan. In unexpected emergencies, an online installment loan may help you take on sudden repairs you can’t ignore. Just make sure to narrow down your search for local loans, so you can find installment loans in Utah if you call the beehive state home.

Pro: They’re One-of-a-Kind

A century home is a unique piece of property, inside and out.

From the curb, an older home won’t look like any other house on the block. This can come as a relief if you’re sick of looking at cookie-cutter neighbourhoods, where each house looks exactly like the next.

Stepping inside, you’ll find its individuality in antique railings, original trim, and ornate fireplace mantels.

Con: They Have a Patchwork of Repairs

Even well-built century homes require ongoing maintenance. The problem with an older building is that, due to their age, several different hands were involved in its upkeep.

Aesthetics evolve and building codes change, so there’s a big chance these updates will clash. Depending on their quality, a hodgepodge of repairs and renovations make for a distinctive look for the wrong reasons.

Are You Ready for a Century Home?

Take the time to weigh these pros and cons carefully. If you’re willing and able to handle the maintenance of an older home, it may be time to forget about new builds and focus solely on historic buildings.