Why You May Not Want To Buy An Older Home


Pre-owned Home

If you’re in the market to purchase an older pre-owned home, there are certain pitfalls you need to be aware of when purchasing and living in an older home. Let’s go over a few of these.

You’ll find your monthly expenses to operate an older home will be more costly than a new home. Many pre-owned homes have outdated heating and cooling systems. On the contrary, when you purchase a new home, they have up-to-date energy efficient heating and cooling systems. You may come across a pre-owned home with high cathedral ceilings which won’t be as energy-efficient as a new home with nine foot high ceilings. You should also be aware of the fact an older pre-owned home has more wear and tear on its plumbing, water heater, appliances, and roof.

One good strategy to practice before you purchase a pre-owned home is to ask the seller to provide you with copies of the last three years utility bills. This will allow you to see how much it costs to maintain the home. If you observe extremely high utility bills, you may want to consult with a home inspector about what you can do to renovate the home to make it more energy efficient.

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Finally, purchasing older pre-owned homes can lead you to live next to not so great neighborhoods. You may love a certain older pre-owned home, however it’s located in or next to a bad area. Regardless of how much you want to purchase the home, you need to remember you have to drive through the bad areas just to get in and out of your home.

While you may be more tolerant of graffiti and dirty neighborhoods, other prospective home buyers may not desire these characteristics and may pass up your home to purchase another person’s property. Remember the universal rule, a good location makes the sale of a home much easier. No matter how fantastic a home looks, don’t purchase it if you don’t think you can sell it easily.

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