Many homebuyers seek out old houses for their charm and character. The architecture of an old home, like a Tudor, Victorian, or Colonial, offers owners a sense of originality not typically found in new builds or cookie-cutter tract home neighborhoods.
“There’s a reason some say ‘they don’t make them like that anymore,’” says Vickey Barron, a broker at Compass in New York. “The quality of materials, design, and planning that went into many old homes would be extremely costly in 2023.”
But every homebuyer looking to purchase an old home should consider the possibility that they’ll have to spend money on repairs at some point in the future.
Best-case scenario? The previous owners overhauled the home’s major systems and you won’t have to shoulder any costly improvement projects. Worst-case scenario? You have to spend big bucks bringing things like plumbing and HVAC up to date.
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