Consumption and Real Estate
Should the age of a condo/house be a consideration of mine when buying a home?
Question : Should the age of a condo/house be a consideration of mine when buying a home?
I am looking into condos in the boston area and a lot of these places are pre-1980s, sometimes it says ‘built in 1900s’, whatever that means. Anyways I know there is a threat of lead/radon/asbestos, and sometimes these are safe depending on what form they are in, but this should be caught during the inspection, right? My main question is could there other problems with older homes? Like is there a possibility that if the other condos in the same building are in bad shape that the entire building could be deemed to be destroyed by the city? I am just trying to make myself more aware of these unknown things that could happen with any condo or house I buy that isn’t otherwise made apparent to me. Thanks,
home inspection boston
Best answer:
Answer by LovingLife
You are correct in everything you have mention. When it is said to have been built in the 1900′s thats means early in the mid 20′s to 30′s so yes, there are many things you need to know, a few more than mentioned above, Electrical.plumbing,wood wear(rot),codes, wiring up to code. water damage, roofs, so many things to see. All though inspections are okay, unless you get one yourself, and walk through with him, there is a possibility that the inspector for the seller is hired from the mortage Co.(redflag) You could always check with the state records,all for condos in or around your area, for old fires,code violations and anything you can think of.Be sure to check with the district to make sure there isn’t going to be developement in your zone, or your house/condo could go right out the window…
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Just because a building is older, doesn’t mean there are going to be problems. I have a condo that was built in the 1940′s (became condo in 80′s). It’s very sturdy, with brick exterior, plaster walls, art deco details and lots of charm. It’s been a terrific investment and we couldn’t be happier with it. There is something of an advantage to having a condo with some history. I can know that it has been well-run and maintained, I can know how the condo fees have gone up reasonably over the years, and I can know how the community is constantly improving. All this helps me to be confident about the future of that condo. New condos are full of unknowns. For example, it isn’t unusual for owners to be hit with surprise increases in fees because the builder’s budget was insufficient. Anyway, don’t hold anything against older buildings just because they’re older. Keep a critical eye open for everything you consider buying–both old and new have advantages and drawbacks. Good luck!