i just found out that the house (weatherboard) that i have put an offer on is twice as old as i am. before i knew this information, i am very comfortable about the property as the inside is really decent and neat, floor seems level everywhere, kitchen has been updated recently, paint was done recently as well. backyard and garden may need a bit of work . Can someone help me with the pro and cons with house that old. or has similar experience before???
Any thoughts?? anyone???
We only have bought old houses. This one sounds like a good one, so maintenance would only be repaint every so often. If you are careful and don’t let it go too long the repainting should only be a quick coat and not require too much preparation.
Apart from that, in the inner 5km we buy, that is what people want.
Wylie
Hi all
b4 I moved to Perth, I had a house in Monee Ponds Vic, when we reno’ed it , we found behind the plaster on the inside of the weather boards that the builder had signed his name and dated it. It was 1 month off 100 years old when we sold it. Just missed out on the heritage status.
We sold in 88 last year when I visited I drove past and it still looks good,
Sounds great Good Luck
Celeste
Check for termites, check stumps under house, check age of electrical wiring as insurance companies do not like very old wiring . May need a rewire worth checking out.
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
it may sound trivial but when you check out this house turn on all taps and check toilet by flushing it. Check how water drains away from sinks ie slowly or reasonably. If possible check hot water works.
This was discussed in API magazine as good checks to also do .Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Check how water drains away from sinks ie slowly or reasonably. If possible check hot water works.
Thanks Duckie, however can you enlighten me further of what i’m checking here?
Is these things will come up in the building insp. report?Slow draining water may indicate tree root invasion or other blockages/problems. Condition of water leaving taps may give an indication of condition of pipes (ie rusted pipes – reddish water), although if it has been recently lived in one would hope these were not too bad….but nothng replaces the checking you do yourself. These should be picked up in a building report, particularly if you point out your concerns prior.
Out of curiosity, I wonder what the average age of an investment property actually is!!
TammyI once owned a 85 years old property.
It was the cutest house. But maintenance cost was greater then I expected – mostly because of old wire, conditioner, and leak near conditioner.Also the insurance company was a bit reluctant with my application. They had some king of age limit in their policy – so check this before signing anything.
Otherwise it was as any other property
Cheers
Lesia
[evo]
http://www.vmstreamline.comIt’s been standing for 50 years so something must be going right. look forward to the next 50
Izza
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