5 Things to Consider Before Buying an Old House

There’s something to be said for the charm and craftsmanship that buying an old house brings to your life. There’s also something to be said for the inevitable (and expensive) mishaps that could be lurking behind any corner or wall. Yes, purchasing an old home has many benefits, but it also has its fair share of what-ifs that you’ll need to take into consideration.

The home I grew up in was built in the mid-1920s. It had various iceboxes around the exterior of the house, a hidden door leading under the deck that my parents discovered when redoing the basement, and a nostalgic je ne sais quoi that is impossible to capture in my current house—a new construction property whose joints are still settling in to the earth.

According to recent census data, 13.5% of the homes in the United States were built prior to the 1940s and 19% were built before 1950. In some cities—such as Buffalo, New York and Sommerville, Massachusetts—more than two-thirds of available housing units have been standing for 75 years or more. And in New York City alone there are more than 1,400,000 residential properties built in 1939 or earlier.

With no shortage of old houses in the country, many homeowners find themselves with an option when they’re ready to buy: go for the history and allure of an old house or set their sights on something built a bit more recently. If it’s a decision you find yourself trying to make, read on for five things that you’ll want to keep in mind before pulling the trigger and buying an old house.

Things can get expensive—fast

If it’s priced low, there’s probably a catch

You may be limited when it comes to renovations

It takes a village

Your homeowners insurance might be pricey

Is buying an old house worth it?

Whether or not purchasing an old home is a right choice for you is, ultimately, a personal decision. Despite the considerations mentioned above, old houses have a multitude of benefits that you won’t find in newer homes, as well as an undeniable charm that can easily make a house feel like a home.

Your best bet is to not rush in to the purchase. Do as much research as you can on the property, and enlist the help of plenty of experts who can help you see past the surface.