Once the inspection is completed...and.....problems identified...... the seller might make repairs or give you credits for items that truly are problematic.
I understand you don't want to lay out money and wind up not buying the home...but it is really the only way you willl know for sure what you are dealing with.
For example, I just had an inspection on a charming older tudor today.........the pipes in the basement are covered with asbestos.....is that a problem? Not accoridng to the inspector, as the asbesots is well encapsulated, even with plastic piping at the bends.........the inspector noted that is is safe to leave it undisturbed in its present state. That is open for discussion by the buyer.
Federal Pacific electric boxes - no longer used - are often seen (in my area anyway) in older homes........they are considered dangerous, and most inspectors and electricians recommend they be removed and the electric updated. Most of those sellers were happily living in their homes, not aware of the potential danger of having that brand of electric box.
As you can see - there is a lot to look for when inspecting a home..............that's why you really need to rely on a professional.
As was mentioned....some of those older homes are build more soundly than the newer ones....................so......find a home, and fall in love with it..............have your offer accepted by the sellers..........and then make sure it is structurally sound via an inspection.
Before the end of WWII, homes were built by a Master Builder; he knew every part of the home, when constructing the foundation he was also thinking about the finish. Now, subcontractors pour a foundation and never return, how do they know how to improve their skills if they never see the completed home? The Master Builders knew and appreciated the homes they built, and built them with pride and lots of labor, as the major costs of buildings then was materials. The labor, which is so much of a homeâ€™s cost today, is what makes those older homes keep their value. You canâ€™t build a new 1924 Craftsman today! And you canâ€™t replicate the labor and finish of those old homes today either.
In addition to being a REALTOR, I am also a licensed Architect. I perform structural engineering, and yes the new homes have much better structural components that older homes do, including lateral resistive systems for earthquakes not used in older homes. However, that same home built in 1924 can say it has survived more than 80 years of life and earthquakes, a newer home cannot say that. A home which has survived that long must have been built well.
By the way, lateral resistive systems were not required in residential construction in California until the 1990â€™s. So a home built in 1980 will have the same basic structural system as the 1924 home, but with inferior materials. That is not to say there were no improvements during that time, just not that much in structural systems. Homes before 1978 used lead paint and asbestos use was not banned until 1989.
Buy the pre-1950 home, have a professional review itâ€™s condition and make sure you repair and update as needed.
Curt V. Schultz, REALTOR-Architect, Pasadena, Ca.
Having said that, I can't overstate the importance of a physical inspection and specific re-inspection of components that the general inspector calls out. A few years ago my buyers wisely took my advise to spend the money for an inspection on a brand new home that they thought would be a waste of money. They were the very first buyers purchasing directly from the builder. The inspector found 19 things to report - some of them rather significant in nature. We were glad to catch these defects early and had them corrected by the seller prior to closing escrow. Part of our demand was to have the builder offer an additional warranty of a second year on top of the one year warranty required by law for new construction by a builder. The alternative would've been to discover these issues here and there and try to get satisfaction from the builder after they'd purchased. And you'd hope to do so within the warranty period.
Older homes have proved themselves through two major earthquakes, I would not be too sure about the new homes, I see a lot of major stucco cracking in these homes and they have not been through a good shaking.
The best thing I can tell you as a retired 20 year general and engineering contractor and now a certified home inspector is have the home inspected prior to investing/buying, make sure the inspector uses infrared imaging, you can have a latent defect on a brand new home worse than a 55 year old home. That's just the way it is.
TonyP @ http://www.CAcertified.com
Look at the roof, are shingles dark, missing or curled? Needs work.
Got cracks in the foundation? COuld be trouble depending on how big. If the foundation does not look square run away.
Is the roofline straight? Dips men foundation troubles or rotten sills or other wood.
Old windows? replacements needed for energy savings.
Crawl underneath, is the wood solid and colored right? Mold, dryrot and more could be problems.
The issues that come up on older properties are: Foundation, Sewer, Electrical and Termite. Also old Chimney's can be an issue. Usually you can get a sense when your looking at properties what the warning signs are but an inspection from a general inspector and also specialist for Foundation, Sewer and Chimney are also a good idea on older homes.
The Carrabba Group
Keller Williams Hollywood Hills
If you didn't want to spend the money, you could always have all the utilities turned on and then try systems and everything yourself including plugging in a little item into all electrical outlests to know they work although there are sometimes outdated aluminum wiring done with improper ground for GFI outlets and older plumbing which will have issues in the future. You want to also look for any signs of water leaks from the roof as well as bathrooms in the walls which would have mold issues and can be very espensive to eliminate. There is also these days homes which have been contaminated by chemicals from meth labs or even bed bugs. If you are inspecting and looking for all these things and all is working and free of major repairs then you may feel secure. If you find an issue you can always get an opinion of the trademan like heating and air, or plumber for plumbing leak, roofer for roof leak signs, externinators, etc usually for a free estimate or a nominal fee to be returned with the work being performed.
We offer half percent downpayment financing on an FHA loan with minimum 580 fico. An FHA loan requires an FHA appraisal which an appraiser checks the home to pass the minimum property standards, although it doesn't include carpet and paing cosmetically. When the appraiser calls something that is an issue in the things mentioned above, they become Lender required repairs and those have to be repaired prior to the close of escrow to fund the loan.
Sheryl Arndt, Broker
Newer does not ALWAYS mean better!!!
I have sold homes built in the 1940's that are solid as a rock! I have seen homes built in the 80's and even more recent with cracked concrete slabs, and walls that ababy could punch a hole in.
Newer homes of course are easy on the eye, but remember most of the building material being used today is produced outside the U.S and may not be of the best quality. Also some contractors may not hire workers with thehighest skill leveles in an effort to keep cost down.
Homes built years back were build using quality materials and skilled workers, in fact they were bulit by true craftsmen.
My advice to you is make sure you have any property you are thinking of buying inspected by a lic professional.
And keep in mind: sometimes when it comes to Real Property, newer is not always better.
Best of Luck to you!
Kawain Payne, Realtor
Non-conforming heating systems such as baseboard heating, oil heating, steam heat, wood heat can be an issue for these older homes too if they have not been updated.
Some of the things you should look out for are structural damage, outdated plumbing, electrical, etc. You are right some of these older properties look better then the newer ones. Get the inspection!!!!!
Century 21 Golden Realty
626 390 2544