OLD HOMES, NEW TRICKS: Parabola’s Checklist for Buying a Mature Property
Posted on: 2015-11-13
For many, a dream home isn’t just about size, location and amenities– the age and style of the property can often be the main attraction. From mature suburbs to redeveloped, industrial-style lofts; from historic neighbourhoods to rustic country houses… No matter your preference, buying an older home incurs a wide variety of obligations and challenges. Are you viewing or considering these types of properties, but unsure of what to expect? Luckily you can rely on the expert advice and professional craftsmanship of Parabola Developments. Read on and review our checklist for buying a mature property.
BEAUTY IS ONLY SKIN-DEEP
So, the older home you are about to buy has everything: original crown moulding, aged hardwood, brick fireplace– or maybe it’s been renovated completely, but the historic exterior has been preserved. Time to sign on the dotted line, right? Well you may want to inspect your prospective property a little closer before you make it official. While all of the above can be visually pleasing, it can disguise significant issues with the home’s structure and utilities. Common problems include:
- Outdated, inefficient heating, ventilation and air-conditioning systems (HVAC)
- Old or partially updated plumbing
- Dangerous or underpowered electrical wiring
- Poorly insulated walls and windows
- Patched or damaged roof
**NOTE: Since many features of an older property have previously undergone repairs, your only option as a new owner may be full replacement– if you are prepared for the cost, it can save an enormous amount of money, time and hassle in the long-term.
EXPECT THE UNEXPECTED
Whether your mature home is renovated or considered a ‘fixer-upper,’ you are just as likely to deal with issues specific to older properties. Many homebuyers anticipate maintenance costs, but leave no room in their budget for other expensive problems. Before you make your offer on that older home, review these overlooked occurrences:
- Historic room dimensions rarely accommodate newer appliances
- Older designs and building materials are often suitable for mice, birds, termites and other pests to thrive
- Home insurance rates are generally higher for mature properties
- Any renovations may need to undergo inspection and approval (common for homes considered to be historically significant)
**NOTE: Most owners of older properties learn to embrace minor quirks and inconveniences. Repairing an otherwise harmless sticky door or noisy floorboard could mean less money for unexpected, more important issues.
If you think your next home or property purchase will be an older one, visit or contact Parabola Developments today! Our renovation gurus will provide you a comprehensive quote that is considerate to your needs and budget.