Lots of people look at an older home and think that they will rehab it and have a unique home for a great cost. There are hidden costs, though, that can kill the deal before you start. Here are 5 problems with buying an older house.
The Locks Aren’t Secure
Old locks make it harder for you to get into the house because they don’t fit the door correctly but make it easier for burglars to get in since they know how to beat an old lock. That doesn’t even get into the problems of how many keys have been made for that lock over the years and where they may be. Change your locks when you move in. It’s a peace of mind that you’ll enjoy.
The Garage Is Tiny
Have you ever tried to park an SUV in a tiny garage? It’s a nightmare. You’ll spend every day trying to figure out if you’re going to scrape a wall or bump the ceiling. You can expand the garage out, but make sure that you take into consideration the space required and the structural integrity of the home if it’s attached. Also, the garage door will be ancient and need to be replaced with one that thieves can’t just open.
Let Some Light In, Keep The Cold and Heat Out
Security is important, and your windows are no exception. Make sure that you replace the windows with latching ones that are properly sealed to keep all unwanted intruders (thieves, bugs, heat and cold) outside where they belong.
Walk The Path
Check out the concrete. Do you see a minefield of lawsuits? You probably will. Concrete cracks and warps, and can cause hazards for everyone from your family to the pizza guy. Don’t get sued into the poorhouse. Fix your walkway.
The Driveway May Be a Mess
Many driveways in older homes are old concrete or asphalt and tend to be cracked or broken, with visible damage. Make sure that you get this repaired before you blow a tire or axle driving up to your tiny garage.
If you want to buy a new home or use a cash out refinance to remodel an old one, call us in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515 or Nashville at (615) 810-8555. You can always apply online at www.thehomeloanexpert.com, and we’re also open on Saturdays to better serve you. We work hard to make it easy on you. Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?