When considering the pros and cons of buying a home over a few years down the road, one of the key benefits of buying a newer home is the potential for residential benefits. In today’s economy, many homebuyers are choosing older houses over new ones, reasoning that they’ll get a lower price in return. There are several benefits to purchasing an older home, that we’re going to outline below.
Structural Benefits: One of the most commonly used reasons to purchase an older home is the ability to use solid foundations. Often, these older neighborhoods often have landscaping and more mature trees, and a more stable sense of community as well. Relatively inexpensive to repair – These factors are often used as an incentive to purchase in an older neighborhood. Affordable to repair – It’s also incredibly easy to repair many types of flooring in an older home.
Ease of Maintenance: Many older properties may not need much maintenance, at all, in terms of stucco cracks on the exterior walls. However, internal structures such as the plumbing, hot water heater, furnace, etc. can pose serious problems. In these cases, home buyers can take advantage of older house features like wet rooms, wooden floors that can be easily maintained, vinyl siding that resists rotting, etc. They don’t have to worry about structural issues and foundation damage either.
No More Foundation Repairs: One major reason many home buyers decide to purchase in an older neighborhood is the chance to avoid costly foundation repairs in the future. It can cost thousands of dollars to repair certain problems with your home structure. These repairs can include; cracked foundation floors, foundation slabs (which often crack), falling down ceilings, hanging eaves, etc. If you buy a home in an established neighborhood, any of these issues can be avoided for a significant cost savings.
Preventative Maintenance: Even though it may seem simple, maintaining your home’s foundation on your own is no easy task. It can be time consuming and tiring. A structural engineer is best suited to make sure your home’s structural integrity is in good condition. This type of specialist is familiar with many of the methods of waterproofing used today. These specialists are also skilled at designing a complete waterproofing solution. With years of experience, this type of professional can save you money by preventing all types of future foundation related problems.
Don’t Know Much About Your House Foundation: Not knowing much about your home’s house foundation can cost you in big ways. For example, if a foundation crack occurs, your home inspector won’t be able to determine where the problem originates. When they do, it could cause extensive delays before your home can be repaired. The result? A lot more money spent on foundation repairs.
Cosmetic Damage: If you don’t repair or replace your home foundation, you could face cosmetic damage throughout your home. For example, a cracked foundation could mean that water has started to seep into the walls of your home. This can lead to structural damage, which in turn can lead to leaks. This cosmetic damage can be expensive because contractors will have to come out and perform repairs. And since most leaks occur near the walls, this can be very time consuming.
Drainage: Lastly, if your foundation has been penetrated by heavy rains, this can result in serious drainage problems. Water that has been standing in your home’s soft soil for long periods of time can weaken the structural integrity of your home. In addition, standing water in the soft soil can make it difficult for your home’s drainage system to remove excess water from your foundation. Cracks, drainage issues and soft soil can make your foundation vulnerable to many costly repairs and replacements.