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Old 09-30-2017, 06:52 AM   #31
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Re: What do I need to know and check when buying an older home?


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Originally Posted by mark sr View Post
Does the house have knob and tube? If I understand correctly not all insurers will cover K&T, might not be an issue if it's just the out bldgs.

The entire property is knob and tube. My insurance provider acted like they would cover it. I'm sure I can get some kind of period to replace it if I have to though. My insurance is pretty great when it comes to a lot of stuff.
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Old 09-30-2017, 06:55 AM   #32
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Re: What do I need to know and check when buying an older home?


I don't know much about K&T but if I understand correctly it can't be buried in insulation. I'd probably want to replace sooner rather than later, something you'll want to budget for.
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Old 09-30-2017, 06:58 AM   #33
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Re: What do I need to know and check when buying an older home?


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I don't know much about K&T but if I understand correctly it can't be buried in insulation. I'd probably want to replace sooner rather than later, something you'll want to budget for.
I already budgeted the windows and electric. Electric is #1 thing.

Thanks again.
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Old 09-30-2017, 08:02 AM   #34
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Re: What do I need to know and check when buying an older home?


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I haven't gotten the full report yet so no idea what I'll ask to be repaired overall.


It is just so well priced because the home is old and needs work.

Just that you realize the owner is under no obligation to fix anything you find wrong. You can ask for certain things to be fixed, or say you want the priced lowered by $xxxxx because of all the repairs you just found out about. But keep in mind that he may not agree to it. Rather sounds like inspection showed you are getting what you expected. If you are using a real estate agent, discuss with him/her.
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Old 09-30-2017, 09:13 AM   #35
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Re: What do I need to know and check when buying an older home?


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Just that you realize the owner is under no obligation to fix anything you find wrong. You can ask for certain things to be fixed, or say you want the priced lowered by $xxxxx because of all the repairs you just found out about. But keep in mind that he may not agree to it. Rather sounds like inspection showed you are getting what you expected. If you are using a real estate agent, discuss with him/her.
Like I mentioned above, I will "ask" them to repair. I know they aren't obligated. If they don't want to fix something I'll ask for a lower price. Because it is going to cost me money to fix it.

But something to note is the lot size. It's a big lot for in town. So it kind of negates the cost of fixing somethings. I mean they kind of have a reason to ask for a bit more despite the repairs needed.

But so far my math and thoughts on what will need to be done are pretty close.

Thanks.

Last edited by wagoner; 09-30-2017 at 09:15 AM.
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Old 09-30-2017, 05:47 PM   #36
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Re: What do I need to know and check when buying an older home?


Yeah, saw the picture. I love that big lot too.


Land looks pretty flat there, but just thought of one more thing to check when buying a house --- the slope of the land. If a house were at the bottom of some hills, it could get pretty ugly during heavy rains. Very easy to miss something like that on a nice sunny day.

Last edited by SPS-1; 09-30-2017 at 05:52 PM.
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