According to the National Association of Realtors, the average home buyer settles on a house that’s around 20 years old; however, property with a bit of age can still prove to be a fantastic investment.
These types of homes are new enough to boast modern conveniences, but old enough to be considered solid, yet we still need to remember that two decades of life can leave definite signs of wear-and-tear. With this in mind, I always try to make sure that buyers understand what considerations need to be made when evaluating a house of this age.
Although it’s always important to keep an eye on the upkeep of your home, the International Association of Certified Home Inspectors (InterNACHI) states that things such as kitchen appliances, wood fencing, decks, HVAC systems, and asphalt roofs should be evaluated at the 20-year mark.
If you’re looking to buy and you notice that these components are still originals, you don’t have to be overly concerned because 20 years is simply an average. Depending upon the initial product, many aspects of your home will still function with incredible reliability for years to come; however, to be on the safe side, make a point to have extra funds in the bank so you’re prepared for anything.
While copper piping used to be the norm, Polubutylene (PB) plumbing took over during the late 1970s through the mid-1990s because it was quick and easy on the wallet. Sadly, while they seemed like a wonderful alternative in the beginning, it rapidly became apparent that their quality simply didn’t measure up.
As more-and-more major leaks were reported, a class-action settlement funded replacement plumbing for effected homeowners, but it’s important to note that there are still houses on the market that have yet to be updated. To combat this, make sure to have any home built between 1970 and the mid-90s looked at by a certified inspector who can guarantee the quality of your plumbing fixtures.
While most of us didn’t really see a problem with the way our homes were decorated 20 years ago, when looking at a property from the 90s, you might find yourself engulfed by mirrored closet doors, gold hardware, ivy adorned wallpaper, and sponge painted powder rooms.
Although this may initially strike you as a budget buster, outdated décor can actually work in your favor since many house hunters will fail to look past the wallpaper and carpet—which could lead to a great deal for you!
If you’re unsure, especially in light of some glaring hunter green counter tops, ask yourself questions that revolve around the home’s actual structure such as, “does it have a good floor plan?” “Is it structurally sound?” “Does it have pleasing curb appeal?”
If your answers are “yes,” then it’s worth considering. Plain and simple, cosmetic fixes are easy to make. While dated homes may require a little extra time and money, they can produce a wonderful return on your investment that makes all of it worthwhile.
Marie Dinsmore, CLHMS
www.dinsmoreteam.com | Marie@DinsmoreTeam.com | 770-712-7789