Two focuses of my blog Home/Living Discussions and Home/Property Discussions. Purchasing a piece of real estate can be a complex reaction. One thing you must do is properly assess the property before buying it. The following contributed post is entitled, Dreaming of an Old Property? Beware of These 5 Risks.
* * *
Dreaming of owning an old property? You’ve set yourself a budget and have been carefully considering all the available options to find your dream home. And you’ve found it! But there’s only one problem: It was built before 1990.
Before you make the plunge, it is important to be aware of the potential risks of owning an older property. In this blog post, we will discuss five of the most common risks associated with owning an old property so that you can make an informed decision. Read on to learn more about these five risks.
High Repair Costs
When buying an older home, it’s important to be aware that repair costs can be much higher than in a newly built home. This is because older homes may require more costly repairs due to wear and tear over time. For instance, older properties may need electrical and plumbing systems to be upgraded to meet modern safety standards. They may also need roofing and siding repairs or foundation and structural issues addressed.
Another factor that can add to repair costs for older homes is the difficulty of locating replacement parts for outdated fixtures and appliances. Replacement parts for older systems may no longer be available, making it difficult to repair them. This can lead to additional costs when attempting to replace outdated fixtures and appliances with modern ones.
Asbestos
Asbestos is a fibrous material that has been used in construction and was popularly used in the United States until 1990. During this time, asbestos was included in everything from insulation and ceiling tiles to flooring, joint compound, and cement.
The health risks associated with asbestos exposure are significant. Asbestos fibers can be inhaled, leading to lung cancer and mesothelioma, a rare form of cancer that affects the tissue surrounding the lungs. Additionally, due to its peculiar symptoms, the cases of mesothelioma misdiagnosis are constantly on the rise. It is important to note that asbestos-related illnesses may not appear until many years after exposure.
Insulation
The insulation system in older properties is often inadequate due to outdated materials, techniques, and regulations.
Inadequate insulation can result in uncomfortable temperatures in winter and summer, as well as higher energy bills. Poor insulation can also allow moisture to enter the home and can lead to the formation of mold and damp patches.
Indoor Air Quality
Unfortunately, due to a lack of proper ventilation, old properties can have very poor air quality. Not only does this make living in the home uncomfortable, but it can also pose a variety of health risks.
Poor indoor air quality can be caused by a number of factors, such as dust and dirt build-up, mold, pet dander, and more. These pollutants can trigger allergies and respiratory problems such as asthma and bronchitis, especially in children and elderly people. In addition, certain pollutants may also cause headaches, eye irritation, and fatigue.
Specialist Contractor
When you buy an old property, you may not realize the range of historical features it contains. These features can give your home a unique charm, from intricate stonework to carved wooden details. However, they also require specialist knowledge and expertise to properly maintain and repair. This is because they have the skills and experience to understand how the original materials were used and crafted, as well as the techniques needed to reproduce them accurately. Specialist contractors are hard to find and often overbooked because they’re so rare!
While there is no nothing wrong with old properties, and many have a unique charm, you have to be aware of the risks they could present.
