4 Repairs for an Aging Home

Older homes can have a variety of eye-catching, quirky details—from original crown-molding to the time capsule tiling in the bathroom.  They also often have a better reputation for craftsmanship on the overall design and architectural character. However, even the sturdiest homes can have underlying repairs you may want to consider making after purchasing and before settling into your new place.
 

*While this list is helpful for most readers, a home inspection is important before officially signing on the dotted line. 

 Foundation

As any home settles, the foundation can affect its overall structure. An older foundation may create uneven floors or small cracks in the walls.  The good news is a foundation can be repaired, and it’s best to know how much of the foundation may need to be fixed prior to purchasing your new older home.

Average cost of repairing foundation:  $2,000 or more 

 Wiring

Many electricians recommend checking your home’s wiring every 3-5 years. If it’s been a while since the home’s last electrical inspection, it’s possible the wiring may not be able to support all the appliances and electronics typically used today.  A home electrical service upgrade cost is usually determined on the size of the home and nature of the electric updates needed.

Average cost of updating wiring:  $800 or more

 Windows

Repairing or replacing a window can be the solution to closing drafts found in older homes and be a good energy saver. When it comes to repairing an old window, it could be just a matter of replacing broken panes, sash cords, or adding weather-stripping.  Newer windows have benefits too, including dual or triple paned, and about twice as effective at retaining heat and air conditioning.

Average cost of repairing windows:  $150-$350 per window
Average cost of replacing windows:  $300-$700 per window

 Attic/Roof

If the older home you’re considering has insufficient attic ventilation, this can create moisture buildup, causing the roof sheathing to rot—which can be a very costly repaired if not identified early on. If you need to increase the amount of attic ventilation in your home, consider speaking with a carpenter, roofer, or a handyman about identifying the true source of the ventilation issue and repair options.  The overall cost is typically determined by the square footage of your improvement/home.

Average cost of attic ventilation upgrades:  $1,200-$1,500 (about 1,200 square foot)

Ready to start the journey of homeownership?  HomeAdvantage is a simple, free online resource to help you search, buy, or sell a home and where you can find local agents to work with and even save you money at closing.  Questions about the homeownership process?  Contact one of our friendly, knowledgeable mortgage loan officers through our online contact form or call 1-877-269-4179.