Some things to Consider When Buying Older Homes or Condominiums

Houses and condominiums get wear and tear from day-to-day use. Of course, houses with occupants get a lot of beating over years of living in them.  There are certain things you must ask yourself when looking at purchasing an aged home.  I love older homes as I find that they have a certain charm to them.  I guess I enjoy that the home has had some history, maturity, experience.  Of course, all this comes with more questions to be asked about the home.  Abandoned homes have even more questions.  Left to the elements, without any measure of maintenance at all, these homes can have major issues that, if left unchecked, can cause major headaches down the road.  

When purchasing older homes or condominiums, these are the seven things you must look into for your own protection:

  • The location. Find safe neighborhoods that have a reputation for safety and convenience. If you have children, this is especially important. If you do not like driving or commuting, you will need to live very close by, perhaps even walking distance to your place of work.
  • The price. This has always been the tough part. Ideally, you can get a house or condo for the fairest possible price, with the amenities you really care for and love. There are standards for cost per square foot. Check this with your broker when you find a place you are considering buying.
  • The owners. Find out from your broker whether the house or condo is owned by a person or a group of persons like in a corporation. Since problems arise when there are “too many cooks in the kitchen,” clarify whom you can speak to primarily about the purchase of the home.
  • The documents. Ideally, all documents are in place anytime you or your broker need to review them. Copies must be clear and easy to understand.  People selling houses or condos must have their act together and compile a cohesive set of documents that are immediately available for review.
  • The structural integrity.  As a buyer, you must seek professionals, so you will know if the house is strong, has not been damaged, does not sit atop a fault line, or is prone to flooding and all that. Flooding can damage properties to a great extent.  Check with local professionals and agencies.
  • The materials. House materials must still be in good shape, or if not, have estimated how much a renovation would cost. Perhaps you can negotiate on the prices, have it brought down a bit more, considering you may be doing some renovations in the future.
  • The utilities. Note which utilities supply the house you are thinking of purchasing. Have professionals check the electrical wiring and plumbing. 

 

Consult with local professionals to ensure good working utilities.  If you need help with your pool and live in southern California, Rancho Cucamonga pool repair is a fantastic service.