The Hidden Costs of Buying an Old House

Ask most people, and they will tell you that they would love to live in an old home. There’s something romantic about living in such a place that is so full of history and unique features, and plenty of homebuyers will have an eye open for an old house. However, ask anyone that has actually lived in a house like this, and they might tell you something different. Sure, it might look fantastic, but there are plenty of hidden costs involved that you won’t really understand until you have been through the experience yourself. Read on to find out the hidden costs of living in an old home. 

Expensive energy
First and foremost, older houses tend to have less efficient insulation than newer homes. And you’ll either need to suck up the extra monthly costs or pay upfront to have insulation installed. You might even have to get in touch with your local heating & boiler experts to overhaul your central heating system entirely - if your old house even has one. Ultimately, if you can pay to replace your old system, it will cost you less over the lifetime of your residence in the house. 

Rural problems
If you live in a house that is in a rural location, you might have a very different lifestyle to that which you have in a city. One of the big differences could be your reliance on external tanks. You might need one for burning oil as fuel, which will involve significant upfront expenditure - and constant checking to ensure you have enough left in the tank. There are the costs of running your sewage through a septic tank, too, which will need to be emptied on a regular basis. While the costs of each container won’t be too much more than a typical heating bill, the way you pay - in bulk - is a price worth understanding.

Old houses tend to be built with fantastic craftsmanship - the primary reason why they are still standing in such lavish condition after so many years. However, modern technology and standards have moved on significantly since Victorian times, so it is likely that the years will take their toll eventually. And often, it’s the roof that will be the most affected by the winds, rain, and freezing conditions over the ages. All house roofs wear out eventually, and you may need to replace it at some point in the future, which can cost a five-figure sum at least. 

Wiring and plumbing
Unless your old home has been updated with modern electrical wiring and plumbing, the chances are you will need to take on this job yourself. And given that your wiring and plumbing is pretty much all behind your walls, you can easily see how quickly the costs might spiral. That said, the price you pay now for work will be worth it in the long-term. Not only will your plumbing and electricity be a lot more efficient and useful, but your modern upgrade should pay for itself when the time comes to sell your house.