Due to the continual expansion of residential projects today, there are those who would choose to take advantage of purchasing affordable antique homes. You may have happened upon these fixer-uppers through a friend, family member, or online ads and have found the mortgage within your means. Hold your horses, though, and consider the following factors before finalizing the purchase:
Foundational Problems – What may be quaint and decent-looking outside may need major repairs underneath. Large-scale foundational repairs can be expensive and may put the renovation rate on par with a newly constructed unit. You can hardly ignore the problem either, as it can cause major settling, cracks, and inconveniences later on. Besides, it’s harder and more costly to fix these issues if you’ve already settled in.
Water Damage – This problem can’t simply be solved by applying a new coat of paint on that old Salt Lake City property. Water damage and other damage inside the walls, ceiling, or foundation could grow worse through the years without you being aware of it. Besides, there are spores, molds, and fungus that thrive where there’s moisture and these can be hazardous to your health.
Dangerous Materials – Old houses, by definition, are those that were constructed before the 1990s while antique residences are dated at 1920s or older. Most of these contain construction materials that are no longer considered safe by both law and science. Check the house for asbestos, lead, radon, and decaying animal matter. Also, inspect old underground storage tanks and cellars for the presence of leaks and chemicals.
It’s best to have the said property inspected and assessed by a professional. Once you’ve gotten the final assessment and costing, do the numbers and see if the house you’re looking at is worth its price. If it is, then go ahead and enjoy renovating it.