Older homes exude character. Not only do their walls tell a history, but often the character, details, and warmth inside are unmatched in today’s quickly built society.
Instead of taking months to build a single home by hand, entire neighborhoods can now be constructed in less time. If you’re considering purchasing an older home, there are many factors to think about during the search and once you’re ready to buy.
Key Things to Consider When Buying an Older Home
Outdated Electrical Systems
Updating a home’s electrical system to modern standards—such as installing a new electrical panel, grounded switches, and updated wiring—can be quite expensive. According to Angi, the cost to rewire an average-sized home in 2025 ranges from $8,000 to $15,000.
Additionally, upgrading the electrical service to accommodate increased power needs may add further costs, with electrical panel upgrades alone costing between $1,200 and $2,000. Since electrical wiring is hidden within walls, homeowners should also budget for potential wall repairs and repainting where old wiring is removed.
Outdated Plumbing
Older homes typically have plumbing that’s seen better days, even if some parts of the system have been updated. Common issues include old sewer and water supply lines that may need replacement. If your home has outdated materials like Polybutylene piping or galvanized pipes, these should also be replaced.
Foundation Concerns
Some older homes were built without a concrete foundation, often relying on post and pier foundations instead. This can make it harder to secure insurance. The simplest way to check for foundation issues is by walking through the home.
Pay attention to whether the floors feel uneven, doors are difficult to close, or cracks appear in the walls—these can all be signs of foundation problems.
Dry Rot
Leaks are inevitable over time, especially around windows, foundations, and roofs. If undetected, water can seep into the walls, remaining wet for years and leading to dry rot. Dry rot is hard to spot but may be detected by a musty smell, which could signal long-term water damage.
Mold Issues
Mold often forms when water stays trapped in walls or ceilings for extended periods. As with dry rot, the best indicator is a musty smell. If you suspect mold, it’s essential to investigate further, as mold can pose significant health risks.
Asbestos
Asbestos was commonly used in building materials from the 1930s to the 1950s. It was found in everything from siding and ceiling plaster to duct tape.
While purchasing a home with asbestos isn’t necessarily an issue if it’s undisturbed, it becomes a major challenge if you plan to renovate. Be sure to research how much asbestos is in the home and what it would cost to remove it if needed.
Lead Paint
Homes built before 1978 likely contain lead-based paint, which can be hazardous, especially during renovations. Although most of these homes may have been repainted, it’s essential to understand the risks if you plan to disturb the paint. Lead paint can be a health hazard if proper precautions aren’t taken.
Higher Insurance Costs
Generally, older homes can cost more to insure. However, it’s essential to get a personalized quote for the specific property. In some cases, it might even cost less to insure an older home than a newer one, depending on factors like condition and updates. Work with an independent agent to find the best home insurance rates.
Embrace the Charm, but Protect Your Investment
While older homes come with unique challenges, their charm, character, and history are truly one-of-a-kind. As a proud owner of these beautiful properties, protect your investment with a tailored home insurance policy. Contact us today to learn more and get the coverage you need!
