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Taking ownership of an older house could save you thousands of dollars. In fact,ticket prices on houses built during the 1940s are generally half the ticket price on modern homes. Think of buying an older house the way that you approach buying a used car. As with a used car, because the house has experienced wear and tear, you won’t be asked to pay top dollar to move into the home.
Age could provide you significant cost savings
Pick an older home that’s not located in an area that’s overseen by a homeowners association and you could save thousands of dollars a year. Other ways that buying an older house could save you thousands of dollars are in structural maintenance costs.
Houses built around World War II were built to endure hard blasts. Punch a wall in a house that was built during the 1940s and you could break your hand. On the other hand, you could tear a hole in a house built during the 1980s or later if you accidentally jam the end of a broom handle against the wall.
Walls of houses built in the 1940s were made of cement. Modern homes may be constructed with fiberboard or plasterboard panels. Fiberboard and plasterboard are thinner than cement walls. You may have heard a relative or friend refer to the walls as being “paper thin”.
As a note of caution, get walls of older houses you’re thinking of buying inspected. Many walls in houses built during the 1940s were made with asbestos cement. To save money on an older home also ensure that the house is well ventilated.
Making the most out of buying older houses
If you don’t, you could buy a house that, although durable, is not well insulated or ventilated.Poor ventilation can cause a house to feel uncomfortably warm during summer months and far too cool when it gets cold outside. Also, make sure that the older house you want to buy has central air conditioning.
Of course,if you spend a lot of time outdoors, central air may not be a priority. To keep your older home cool during summer without turning on central air, close the doors to rooms that you are not using. Place chairs and sofas near windows and vents. And use window air conditioners and efficient floor fans.
You may love the privacy that you’ll gain with an older home, as older houses are generally not designed with open floor plans. Each room may have a separate archway or door. Houses in older neighborhoods tend to have a similar floor plan.Depending on when you grew up, you may recall how your parents, aunts, uncles and grandparents homes’ were laid out the same.
After you get an older house that you want to buy inspected, you can always modernize the home. For example, you could install solar panels in the house. Upgrade the insulation and knock down walls and create an open floor plan to give the home a more spacious look and feel.