Buying an older home and renovating it in Pennsylvania can be a great way to build equity in your home while also being able to ensure the home you buy has everything you want. However, older homes may come with many hidden issues. As you work with your contractor on renovations, some problems may occur. It can help if you prepare ahead of time by becoming familiar with the common issues in older homes.
Money Crashers explains this state has a large number of older homes compared to the rest of the country. So, the chances are good that you will buy one. If you jump into renovating be aware that a common issue is problems with outdated electricity. Your contract has to bring that up to code, so while it may not be an improvement you see, it is one that you have to do.
Another common pitfall is plumbing that is not functioning properly, along with heating systems that need to be updated. Bad roofs and foundations are also common. All of these issues take a lot of money to fix. They may not be as exciting as a refurbished kitchen, but they are necessary to provide a safe and healthy home.
Speaking of healthy, other common problems include asbestos and radon. Removing these is a process and requires special care. Your contractor may need to hire someone to do it. Finally, the walls may have hidden trouble, including mold and termites.
Knowing about potential issues allows you and your contractor to get on the same page from the beginning. It allows you to set aside extra money and time to tackle these things. This information is for education and is not legal advice.