Old House Inspections: What to Expect?
Buying or selling a home is no easy task, especially if it is an old home. However, just because it is an old home doesn’t mean you won’t purchase a lovely property or secure top dollar for your investment.
Both buyers and sellers have questions about the process of old house inspections. Buyers want to ensure no unexpected issues could lead to long, expensive repair projects. On the other hand, sellers want to make sure the home sells for what it’s worth, as many old homes are in good condition.
In this guide from DMC Home Inspections, we review old home inspections for both buyers and sellers. Let’s look at some things you should expect during an old home inspection.
What Constitutes an Old Home?
As vague as it may sound, there is a determiner for considering a home old. An old home is any home that is 50 years old or more. So, if your home or the home you may purchase was built before 1970, it will fall into the old home category.
So, while a home built in the 90s might feel outdated if it hasn’t gone through many updates, it doesn’t qualify as an old home for inspection purposes. While it’s important for all homes, whether new construction or decades old, to get inspected, older homes were built 50 or more years ago.
What Should Be Inspected During an Old Home Inspection?
Whether you’re buying or selling an old home, certain areas will be inspected no matter what. Here are some areas that will be examined during an old home inspection:
Foundation
Foundation can last up to a century in the best conditions, but after 50 years, it will show signs of significant wear and tear that may need to be addressed before buying/selling. If the foundation is crumbling or not sound, the home may be unsafe to live in.
Plumbing
Plumbing systems in old homes may contain lead pipes, which are hazardous to one's health. A certified inspector will look closely and determine if any dangers in the plumbing system linger.
Radon
Radon is naturally occurring from the earth and may rise into your home. A home inspector will conduct a radon test to determine if any levels are present on the property. Remember, radon inspections are key for any home, but especially for older homes.
Learn more about other invisible issues home inspections can uncover.
Electrical System
A home’s electrical system has a shelf life of about 30 years. So, old houses will undoubtedly need attention to assess the condition of their state of electricity. While some electricity system fixes are more straightforward, it’s important to know if there are major concerns.
The Biggest Misconception About Old Home Inspections
One big misconception of old home inspections is that only the buyer needs to conduct one. However, an inspection is just as beneficial to the seller if it prompts them to make any repairs to keep the value of the sale!
What Buyers Need To Consider
For buyers of an old home, it’s essential to know what you're getting into. While older homes may still be in good shape, the likelihood of problems will increase over time, especially if no renovations have been done in the past decades.
Buyers need to get a comprehensive report from an inspector. This way, they can be sure they aren’t buying a home for more than it’s worth or buying a home they can’t safely live in.
What Sellers Need To Do
While buyers want to feel protected in the sale, inspections are just as important for sellers. With a home inspection on an older house, the seller can prove the price is fair. Without the inspection, buyers may say that minor aesthetic problems mean a price negotiation, but with a home inspection, you can stand firm in the price.
What to Expect During an Old Home Inspection
The biggest thing to expect during an old home inspection is complications or issues. The plumbing may have high amounts of lead or many leaks, the electrical system is almost fried, or the foundation may be on its last legs. You never know what an inspection will enlighten you to!
Not to worry, though, as significant issues may give you a better price if you’re a buyer. However, you may need to make costly repairs in order to make it livable again.
If you’re the buyer and have questions about what to do after a failed report, check out this blog on how home inspections work for sellers. While it’s usually possible to renegotiate, this will depend on the terms of your agreement. If that's not possible, you can back out of the sale.
You will most likely find issues during your inspection or pre-inspection, but depending on your situation, it will just be a minor speed bump!
Schedule an Inspection With DMC Home Inspections
DMC Home Inspections prides itself on being the most committed home inspector in the Twin Cities. Whether you're a buyer or seller of an old home, our trained inspectors ensure a comprehensive report that gives all involved parties peace of mind.
Schedule your inspection online or call us at 612-310-1692 today!