Home Flipping Houses Should 100-Year-Old Properties Scare You as an Investor?

Should 100-Year-Old Properties Scare You as an Investor?

by admin
0 comment

No, I’m not afraid of properties 100 years ago. In fact, I’ve always been fascinated by old properties. They just have a look and feel that you can’t get with the new ones. They have history and stories. Who lived there? Who worked there? How was their life over 100 years ago?

I live in a house built in 1923 and usually work in older properties. I have also worked in a new building, so I have nothing to oppose the new building. But the old ones seem more special and fun to me.

No, I’m not afraid of old properties, but like most other properties, it’s not without some unique challenges. However, some of these challenges are unique to older properties as building techniques, materials, and styles have changed over the years. You need to be aware of these potential challenges and learn how to deal with them. And these old properties are exactly the same as any other property.

So what are some of these unique and potential challenges you face with properties over 100 years old? Here are some I have come across.

Eight challenges you may face with old properties

1. Knob and tube wiring

This is a very old style of electrical wiring. Insurance companies hate it and often do not insure the property that owns it. why? I’m not sure because it looks like it’s working perfectly unless it gets in the way. To be honest, this is a major problem you may face with older properties, as knobs and tubes often have to be replaced, which is costly.

2. Plaster

Plaster installation is a lost art. Few people know how to fix it these days. Therefore, damaged stucco walls often have to be completely lowered. This can be good anyway, as the old wiring above needs to be exposed and replaced.

Related: Don’t Touch: Three Old House Features to Protect During Remodeling

3. Leadpipe

Lead is so malleable that lead has been used in pipes dating back to pre-Roman times. Unfortunately, we have found the damage that lead can do to humans, so it is best to replace them.

4. Lead paint

At that time, lead had many other uses. Lead helps paint covers and sticks. Unfortunately, over time it’s missing and tastes good to young children. Lead paint repairs should always be kept in mind when looking at old properties. Or, in fact, whatever was drawn before 1974.

5. Asbestos

It was a great insulator. do not disturb. Usually it’s okay.

6. Malfunction layout

People lived and worked differently a few generations ago. The kitchen and bath were small. The dining room was more formal and the bedroom did not have a closet. Don’t miss any useful enhancements or additions as needed.

7. Unique architectural features

Older properties often contain features not found today. Items such as winding railings, large carved wood, stonework, and strangely sized windows are common in older properties. This means that these items are unlikely to be found at your local Home Depot. You may need professionals and professional help to get the job done properly.

door knob
Related: 8 things to look for when rehabilitating an old house

8. Historical regulations

Older properties are often located in historic districts, and there are rules governing what you can and cannot do with these properties. Don’t try to detour them. Your neighbor is watching and attacking you.

Wow! After entering this list, I probably have to be scared of old properties, or at least find a new one to work with. After all, new properties are less expensive to renovate and aren’t too much of a hassle, right? necessarily. It doesn’t take long to ruin a property quickly. Leaky roofs and aluminum wiring can lead to costly repairs. Believe me, I was there too.

Moreover, many of these challenges I have listed above are not found in all older properties. Often, they have been modified at some point in the past by the previous owner. Lead pipes are often replaced by copper, adding more modern conveniences and may have upgraded the wiring. You just need to know what to look for to get in.

So should you be afraid of property 100 years ago? No, I don’t think so. Yes, please be careful. However, you need to be careful when trading. Over the years of mine, I’d better just look at some old properties that couldn’t be fixed and destroy them. Almost everything can be fixed.

For me, a 100 year old property is the same as any other property. You have to learn what to look for, budget for it, and make an offer.

You may also like