Consequences of buying a beautiful old house
Consequences of buying a beautiful old house. Many people looking for a property fall in love with an old house, be it for its location, its style, its beautiful gardens, its large dimensions, or its wonderful wooden floors.
But, when deciding to buy an old house, in addition to the price, it is necessary to take into account an aspect that could become a headache once the property is acquired: homeowner’s insurance.
Insurance companies generally charge more for policies on older homes. For this reason, it is essential to pay attention to the electrical system, the ceilings, and the pipes of the same.
Some older homes may have an outdated 60 amp electrical system instead of the 100 or 200 amp current codes mandate. It is also common to find knob and tube wiring, considered today very dangerous as they can be sources of fires.
Likewise, it is common to find old galvanized pipes whose oxidation produces leaks that endanger the structure of the house.
The other frequent problem in this type of housing is the roofs. The roof is the most important structure since, in addition to covering the house, it strengthens it and prevents it from collapsing. A weak or damaged roof is prone to water damage, mold, or the cause of leaks and leaks. And in the event of a storm, it would not withstand the force of the winds as expected.
Most insurers set off alarms when a flat roof is over 10 years old, a singles roof is over 15 years old, and a shingle roof is over 30 years old.
Both the pipes, the ceilings, and the electrical system can be changed and updated. What happens is that they are expensive jobs, they must be done by professionals and with permission from the local authorities. If these systems are not updated, many insurers may refuse to cover your beautiful home. Consequences of buying a beautiful old house.
If you are going to buy a home that is more than 30 years old, hire a home inspector, ask them all about the conditions of these systems, and on the other hand, talk to your UNIVISTA INSURANCE insurance agent about the consequences it would have for your pocket to acquire said property.