Many of the older homes were built with quality materials and craftsmanship, but not all. You can get a quick overview by walking around the house to see how much it has settled over the years. A good look at the foundation will also reveal cracks, water infiltration and evidence of bugs, which can send you running right out the door. Everything is fixable - for a price. Plumbing and electricity often have to be updated, and many older homes need additional insulation. That said, there is nothing like the charm of an older home, when it is well maintained. The house may last hundreds of years.