Thinking of Purchasing an Older Home? Read This First!

Home Blog Thinking of Purchasing an Older Home? Read This First!
Thinking of Purchasing an Older Home? Read This First!

Have you ever heard someone say “They don’t build them like they used to” when it comes to talking about old cars, appliances and homes? Whether it’s the style they were built in, the identifying features or other characteristics, there’s just something about living in an older home that has a unique history behind it.   However, old homes can also cause difficulties if you aren’t careful. If you are looking into purchasing an older home this spring, here are some pros and cons to consider from your friends at Alpine Bank.   Pros:   Location – Older homes were built first so they are often situated close to the action. Cost – This is usually assumed, but you will typically pay less for an older home than a newer one of the same size. Long-term investments – Check with other home owners in the area to see how much their home values have changed in the past decade. Old homes are often limited in supply, yet high in demand so the value may rise. Availability – An older home is ready to be lived in. You don’t need to wait for a builder to put finishing touches or delays in the building schedule.   Cons:   Roots – Old homes often have older trees in the yard. These trees have long and deep roots that can cause problems with your foundation or plumbing systems. Out-of-date building codes – Checkold heating, plumbing and wiring systems to make sure they are up to modern codes, along with the chimneys and windows. Places to put your stuff – People didn’t own as much stuff when older homes were built as we do now. This means that closets and storage spaces may be smaller than what you are used to.   When you are looking at houses, don’t be afraid to ask a lot of questions! Purchasing a new home is a big decision, so don’t leave any stone unturned.   The mortgage bankers at Alpine Bank can help you find the mortgage solutions you need to get your ideal home, old or new. Give them a call to get started with a free loan consultation today!  

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