When you have an older home, you know there are costs you will incur for things wearing out or going out of date. How can you budget for these expenses? We talk about four areas of the home that will probably need fixing if your home is over 50 years old below.
New wiring
Electrical components last a long time because they are inside the walls of the home. However, animal intrusion and water leaks are two common things that can cause problems with wiring. Age is another issue. To keep your home safe and free from fire hazards, it is important to replace the entire system if it is over five decades old. This job is something you will want to pay for all at once.
Plumbing replacements
Older plumbing may mean rusty metal pipes that can leak contaminants into your water supply. These pipes typically spring leaks in hidden areas of the home, causing extensive damage before you realize there is a problem. Water heaters often fill up with sediment from old pipes, making them go out prematurely. You can replace the plumbing in sections or by rooms until you swap out all the lines.
Framework upgrades
Depending on the maintenance history, the structure of the home may fare well over time. The only way to know this for sure is to have a thorough home inspection. With moisture, insects, rodents, and stress, wood breaks down. If you have not had any issues, then it is an excellent idea to know the status of the framework in an older house.
Foundation fixes
Foundation repair is another big area of the home that you will want to pay attention to if your house is aging. Shifting soil, settling, water penetration, and pests can damage your foundation causing crumbling or holes. You can tell if there are issues with settling by checking for cracks in the basement or lowest level that look like stairs on the wall. Wet patches, sticky doors, and uneven floors are other signs this part of the home may need attention.
This Old House says budgeting is a concern depending on the area, service providers, when the problem arises, and the exact repair needs. To get a rough estimate, the television giant says to take the national average price and adjust it for your area. If you go with the higher end of the price range, then you will not be caught off guard if the repairs are more than usual.