Buying a Historic Home: Antique, or Just Plain Old?

Whether you're an amateur historian, love home restoration, or simply appreciate the beauty that comes with age, buying a historic property can be a dream come true. Unfortunately, it can also be a risky investment as antique properties are, well, old and susceptible to problems. According to the Historic and Distinctive Properties of New England, in order to adequately assess the value of a historic home, there are a number of things to consider during your initial inspection of the property. Verifying that everything is as it should be or can be repaired will help ensure that your investment is a wise one

It's All in the Foundation

• Ensure that there is no dirt-to-wood contact around the perimeter of the building, which can contribute to mold and pests.
• An unusually damp basement could be a sign of dry rot. Be sure there is proper ventilation.
• Many old homes have stone foundations and dirt floors, which allow water to seep through during the rainy season. Be sure your potential home is properly protected.

A Word about the Pipes

• Be sure that all pipes are fairly new and in good working order. Old, galvanized pipes may indicate an accident to come.
• Be sure that modern plumbing systems can be installed without damaging the home or generating significant expense.
• Verify that the water pressure is sufficient.

Is the Water Safe?

• Old homes with old pipes may mean the water supply is unsafe. Know whether the water is from a well or a city system. If from a well, ensure that there is a sufficient supply.
• Taste the water and note its quality
• Keep an eye out for reddish-brown rings in sinks or toilets. This is an indication of excessive iron.

An Eye for Windows

• Just as with any other home, the greatest loss of heat is typically through the doors and windows. A historic home can cost a fortune to heat or air condition if its windows are efficient.
• Screens and storm windows were created to protect a home from the elements. Be sure your potential home benefits from these.

Checking the Roof

• Most roofs only last a maximum of 25 years, so be sure to ask how long the current roof has been in place.
• Look for signs of damage or repairs, such as sagging, different colored shingles, water stains, etc.
• An abundance of peaks and valleys can spell trouble for homes in snowy regions. Excess ice and snow builds up hear, creating the potential of extensive damage. Proper water drainage is important as well, so check all gutters.

A Note About Heating Systems

• Check whether the system has been upgraded.
• Old steam systems are prone to asbestos around the pipes. For your health's sake, be sure to have this checked out.
• High heating bills are a sign of poor efficiency or insulation.

Don't Forget About the Interior!

• Cracked plaster walls may mean a house has sill problems
• Look for signs of neglect, such as rusty pipes, buckling floors, etc.

For more information about purchasing or restoring a historic property, visit the Historic and Distinctive Properties of New England's official Web site, www.historicprop.com

Source : http://efinancedirectory.com