5 Problems You'll Face When Buying an Older Home

Buying a home is a significant investment. But when buying an older home, you have some added responsibilities you need to be aware of. While older homes come with their charm, they also can come with various challenges that you might not initially think about. So before you buy that beautiful, vintage house, here are some of the issues you'll face while trying to maintain it.

Outdated Electrical and Plumbing Systems

Many older homes have outdated electrical and plumbing systems that can cause major headaches. Older electrical systems can be a fire hazard, and older plumbing systems can cause leaks or rust. While upgrading these systems can be costly, not doing so can be even costlier. You might need to update the electrical or plumbing systems, which will require an investment that can be well worth it in the long run.

Asbestos and Lead Paint

Asbestos and lead paint were widely used in homes built before the 1980s, and both can be a major health hazard. Asbestos is a known carcinogen, and lead paint can cause developmental delays in children. If you're planning to buy an older home, it's vital to check for the presence of these hazardous materials to take the necessary precautions.

Structural Issues

Homes typically settle over time, but when buying an older home, there's a chance that the structure might have shifted in ways that are beyond normal settling. Foundation issues, uneven floors, clogged chimneys, and other structural problems can be expensive. It's crucial to hire a structural engineer to inspect the home thoroughly before committing to a purchase. You can also find pros for the different maintenance you’ll need, such as Lifetime Chimney Chicago for chimney care.

Energy Efficiency

Homes built before the 1970s were not designed with energy efficiency in mind. Many older homes lose a significant amount of heat during the winter months due to gaps, cracks, and poor insulation. While improving the home's energy efficiency is possible, it requires investment.

Renovations and Upgrades

While carrying out upgrades and renovations is an exciting part of owning a home, it can be more challenging when dealing with an older house. Older homes can have unique layouts, and bringing certain features up to date can be challenging. The cost can also add up in what it might take to upgrade and restore the home to its original glory.

Owning an older home is both a joy and a responsibility. If you're planning to buy a vintage home, it's essential to know the problems you might encounter so you can budget accordingly and take steps to prevent any issues before they occur. As a homeowner, taking the time and making an investment in an older home can bring years of enjoyment and satisfaction.

What To Do With Inherited Art and Antiques You Don’t Want

If you’ve recently come into possession of an inherited piece of art or some antiques that don’t quite fit your style, it can be difficult to decide what to do with them. You may not want the item for yourself, but you might feel terribly guilty about discarding something your parent or grandparent loved.

Fortunately, there are plenty of options for repurposing an inherited antique or piece of art that don’t involve throwing it away. Here’s what to do with inherited art and antiques you don’t want.

First, Get It Appraised

Don’t wantonly dispose of inherited items without learning exactly what they are and what they may be worth. You still may not want to keep the items. But at least you won’t find yourself watching an antiques show where someone with an item exactly like the one you gave away finds out theirs is worth thousands.

Find a professional appraiser that specializes in the kinds of items you have. They should give you a written report describing the item, its origin (if it is possible to determine it), and its estimated market and insurance value. Knowing the difference between fine and commercial art,, which can both be quite valuable, will help you make a more informed decision about what to do with your inherited items. It also helps to know whether an item is truly an antique or is too new to qualify.

Donate It

Once you know what your things are worth, you could donate them to an organization that can turn them into cash or use them in pursuit of their mission. You should consult your tax advisor about whether your gift is tax deductible and if so, how to document the donation.

Donating an item can be a great way to help your local community and provide others with the joy of having something special in their homes. Consider donating larger items to a charity or thrift store in your area. For smaller pieces, you may be able to find a local elderly care home or even an art museum that would take the item off your hands.

Sell or Auction It

If you want to get some money back for what you’ve inherited, you could sell it. Online marketplaces get hundreds of thousands of views. Plus, you can usually limit your items by geographic area and how you’d expect the buyer to collect the item (either you ship it or they pick it up).

Check the prices similar items have fetched before you set your price for the best chance of a quick sale.

For valuable and rare items, consider using an auction house. A professional auction house can help determine the fair market value of your item and help you set a realistic “reserve” price below which you will not sell. Be aware that upon a successful sale, the auction house typically keeps a percentage of the purchase price as a fee or commission.

Repurpose It

If your inherited antique isn’t in perfect condition, don’t worry—you can still repurpose it. For example, you can use a vintage dresser or end table as a media console or storage piece in a modern home. You can transform an old painting into wall art with the addition of a new frame and mat. With a bit of creativity, you can find ways to turn your inherited items into something new and fresh.

There are a variety of options for what to do with inherited art and antiques you don’t want. Whether it’s donating, selling, auctioning, or repurposing the item, you can find the right solution for your needs. Doing this will help ensure that the item finds a new home and that you don’t have to part with something special.