Buying an old house: What to know know about purchasing a 100-year-old property

The imperfections of handcrafted features, the creak of original hardwood floors, the whispers of history etched into the very foundation — old houses hold a timeless allure that captivates many homebuyers. But beneath this undeniable charm can lie a range of concerns unique to century-old (or older) properties. If you’re thinking about buying an old house, here’s what you need to consider.

Why do people buy old houses?

The allure of old houses runs deeper than aesthetics. Often, homebuyers interested in older properties are looking for a tangible connection to the past and a sense of character that newer, mass-produced homes often lack. 

There are many motivations for people to consider an old house purchase, like:

• Unique charm and character: Intricate details, historical architecture, and a sense of individuality that newer homes often lack.
• Solid construction: These homes are built with quality materials and craftsmanship that have stood the test of time.
• Larger lots and mature landscaping: Old houses often boast spacious yards with established trees and gardens.
• Historical significance: Older homes offer a connection to the past and a chance to own a piece of local history.
• Value appreciation: Well-maintained older homes can increase in value over time — often quicker than newer homes.

How old is “too old” of a house to buy?

It’s normal for homebuyers to approach an old house purchase with some trepidation. But is there really a limit to how old is too old? Is a 100-year-old house too old? After all, older homes have lived through generations of families, weathering storms, and changing times. 

The answer isn’t one-size-fits-all. It depends on your priorities, budget, and willingness to invest in maintenance and potential renovations. A 100-year-old house — or an even older house — isn’t necessarily a dealbreaker. Many of these properties have been lovingly maintained and even updated with modern amenities while preserving their original charm. So, what should you consider?

• Your priorities: Consider your motivations for seeking an older home. Are you captivated by the ornate details of Victorian architecture, or does the simplicity of a Craftsman bungalow speak to you? Ask yourself whether you’re prepared to invest time and effort into preserving and restoring original features. Are you handy enough to tackle minor repairs yourself, or are you willing to budget for professional help? 
• Your budget: While older homes might be initially more affordable than their newer counterparts, look beyond the purchase price. Factor in potential costs like replacing outdated electrical systems, plumbing repairs, roof maintenance, or even foundation work. Be realistic about your financial resources and the extent of work you can comfortably afford.
• The house’s condition: A comprehensive inspection by a qualified home inspector specializing in older properties is non-negotiable. This inspection will uncover any hidden issues that might not be visible to the naked eye, such as structural problems, termite damage, outdated electrical wiring, or hazardous materials like asbestos or lead paint. Prepare to address identified issues or walk away if the costs exceed your budget.
• Your risk tolerance: Older homes come with a unique set of risks. Are you comfortable with the possibility of unexpected repairs or maintenance needs? Can you handle the occasional surprise expense? Be honest about your risk tolerance and your ability to adapt to unforeseen challenges. Remember, older homes often require more ongoing care and attention than newer ones.

Remember: Age is just a number. A well-maintained 100-year-old house can be a treasure, while a neglected newer home can be a money pit. Focus on the condition of the property, not just its age.

How can I research an old house’s history?

Are you curious about the stories your old house could tell? Discovering its history is an exciting journey that can reveal fascinating details about previous owners, architectural styles, and even significant events that took place within those walls.

The first step is to dive into public records. Deeds, tax assessments, and building permits offer a wealth of information, including names of past owners, dates of construction or renovations, and property values. You can usually find these records at your county courthouse or online through government websites.

Next, visit your local library or historical society. Their archives often hold treasure troves of photographs, newspaper articles, and other documents related to homes in the area. You might find old photographs depicting your house in its former glory, newspaper clippings reporting on local events, or even personal diaries offering glimpses into the lives of previous residents.

Don’t stop there. Other avenues to explore include:

• Websites or local historical societies can provide valuable information.
• Long-time residents might have stories or photographs to share.
• If possible, reach out to former owners for firsthand accounts and insights.

Researching your old house’s history can be a rewarding endeavor. You never know what fascinating secrets you might uncover.

Related article: How to find out if someone died in your house

A thorough pre-purchase inspection is important

After researching the history of your potential old home, the most important step is to get a thorough inspection. While a qualified home inspector can give you a clear picture of a home’s condition and identify any problems, it’s important not to settle for a general home inspector.

A general inspector might overlook the unique quirks and potential issues of a century-old property. Instead, seek out an experienced professional who specializes in older homes: a vetted expert who understands the nuances of historical construction methods, materials, and potential problem areas. They can identify issues that a general inspector might miss. 

Important red flags to look out for during the inspection include:

• Foundation issues: Look for cracks, uneven floors, or signs of settling, which could indicate structural problems.
• Roof condition: Check for leaks, missing shingles, or signs of age that might necessitate a costly replacement.
• Plumbing and electrical systems: Outdated systems might need updating to meet current safety standards. Look for signs of leaks, faulty wiring, or insufficient amperage.
• Heating and cooling systems: Older systems may be inefficient or nearing the end of their lifespan. Factor in potential replacement costs.
• Hazardous materials: Test for the presence of lead paint, asbestos, or radon, as these can pose serious health risks.
• Pest infestation: Look for signs of termites, rodents, or other pests that could cause damage to the structure.

While issues are bound to pop up during an inspection, the key is to budget for and prioritize them. For instance, a new roof might be worth the expense if everything else has been modernized. Do a cost-benefit analysis to determine whether the issues your inspection yields are worth the cost to fix. 

How do you know when to walk away?

While some issues can be easily fixed, others might be deal breakers. If the inspection reveals major structural problems, extensive water damage, or significant hazardous material contamination — all big money fixes — it might be wise to reconsider the purchase. Also, if the estimated cost of repairs and renovations exceeds your budget or comfort level, it’s typically best to walk away.

Keep this in mind: don’t let your heart rule your head. A thorough inspection can save you from costly surprises down the road. You might be disheartened to learn that a darling old home needs love beyond your budget; however, it’s better to walk away than saddle yourself with debt and anxiety that’s tough to manage.

Here’s more on how to walk away after a bad home inspection.

Get expert guidance on buying an old house

Buying an old house is a journey: both into the past and future. Chances are, your old home will require some extra love and attention; however, if you’re willing to put in the time, money, and work, it can become a generational home for you and yours. With challenges come rewards, and undoubtedly the sense of accomplishment you’ll feel as you breathe new life into a century-old (or older) property is truly unparalleled. 

If you’re ready to embark on this exciting adventure, reach out to Orchard for insightful guidance. We know the intricacies of buying old houses and can help you work through the process with confidence.