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Buying an Old House: Everything You Need to Know

Ryan FitzgeraldRyan Fitzgerald
May 27, 2025 • 9 min read
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Buying an Old House: Everything You Need to Know
Chapters
01
What Defines an "Older Home"? 
02
Pricing Considerations 
03
Expensive Repairs and Updates 
04
Insurance and Financing Considerations  
05
The Inspection Process
06
Older Homes May Have Hazardous Materials 
07
Possible Foundation or Structural Damage
08
Electrical Problems 
09
Roofing Issues 
10
Insects and Pests 
11
Outdated Interior 

Buying an Old House

Are you thinking about purchasing an older home? Let's discuss everything you need to know about buying an old house, including what repairs and updates can be expected.

There is something undeniably charming about older homes. Most old houses feature original hardwood floors, unique architectural details, and historical significance that is not present in newer builds. 

Buying an old house certainly has its perks and intriguing characteristics, but it can also come with some setbacks. You are not alone if you're considering purchasing an older home in the Raleigh area. Many buyers are drawn to the character and craftsmanship that comes with age.

There is nothing wrong with buying an older home, especially in a low inventory market, but be prepared for possible structural damage and other maintenance issues related to old houses. 

In the United States, 12% of all housing units were built in or before 1939. North Carolina, in particular, has many homes featured on the National Register of Historic Places. 

While buying an older home intending to embrace its character or spend time renovating can seem fun and exciting, it also requires careful consideration and planning. 

Here is what you should know before buying an older home 

1. What Defines an "Older Home"? 

In real estate, homes are typically categorized by age brackets that reflect different construction standards and architectural trends. A home is generally considered old depending on its age, historical significance, construction techniques, materials, and architectural styles. 

In Raleigh, North Carolina, many neighborhoods have older and historic homes. Historic Oakwood is a walkable Raleigh community with homes primarily constructed between the mid-1800s and the early 1900s. 

Pre-1950s (Antique/Historic): These homes often feature unique architectural styles like Colonial Revival, Craftsman, or Victorian. Many were built before modern building codes and may have historical significance.

Some historic homes might also be listed on the National Register of Historic Places as long as they meet all requirements. Factors such as the property's age, integrity, and whether or not it is related to a significant person or event in history will determine its value. 

1950s-1970s (Mid-Century): Post-war construction boom homes, often featuring ranch-style layouts, smaller rooms, and the introduction of modern conveniences like central air conditioning in later years.

1980s-1990s (Established): Homes from this era typically have more modern systems but may need updates as they approach 30-40 years old.

beautiful historic home with balconies and fenced in front yard

2. Pricing Considerations 

Older homes are often priced low due to age, but that's not always a good thing. In Raleigh's competitive market, this can mean significant savings for homebuyers, sometimes 10-20% less than comparable newer homes in the same neighborhood. However, these initial savings should be weighed against potential renovation costs.

Usually, an issue could cause future damage and be expensive to fix. If you see an older home that is priced lower than it should be, consider the fact that there are problems that the sellers want to avoid fixing or problems that are too extensive and expensive to repair.

Older homes could also be priced lower because they need to be updated, but that doesn't mean they aren't worth purchasing. If you see a home priced lower than usual, visit the property in person. 

It's also a good idea to get an inspection done or ask the sellers for past inspections that will give you a better idea of the structure and liveability of the home. 

Old Vintage Farmhouse with large front porch surrounded by trees

3. Expensive Repairs and Updates 

As a new homeowner, you want to walk into your home and feel like everything is great. Worrying about repairing or replacing expensive parts of the house or upgrading to today's standard can be exhausting and tedious, especially after the biggest purchase of your life. 

You will likely run into more problems in older homes while fixing one than you may think. If you want to update the flooring, lift the old flooring to reveal mold or a cracked foundation. Or, if you plan to tear down a wall, there might be water damage or electrical wiring problems that need immediate attention.

Renovations for older homes typically start at $100,000 and can increase depending on what needs to be fixed or replaced. Most often, updates must be made to the plumbing, electrical, and HVAC systems. 

An older home may also need a roof replacement. On average, a roof replacement will cost $9,517, but the cost will depend on the size of the roof and the materials used. 

4. Insurance and Financing Considerations  

Some insurance companies are reluctant to cover older homes due to outdated systems and higher claim risks. However, homes in historic districts may qualify for specialized insurance programs.

The four main factors that affect your homeowner's insurance rate are where you live, your home's replacement cost, the age and condition of your home, and your policy deductible. 

Home insurance premiums for homes older than 30 years can be up to 75% more expensive than for newer homes. Oftentimes, these higher premiums can be offset by lower property taxes. 

Conventional loans work for most older homes, but renovation loans like FHA 203(k) or Fannie Mae HomeStyle loans should be considered if significant updates are needed. These allow you to finance the purchase price and renovation costs in a single loan, often with favorable terms.

5. The Inspection Process

Older homes can be expensive, and it is essential to get an inspection before closing to ensure that the house will be worth the cost. While a standard home inspection is necessary, consider hiring specialists for older homes.

For homes over 50 years old, a structural engineer might be worth the $500-$800 fee. Similarly, an electrician's evaluation of older wiring systems can prevent costly surprises and future accidents. 

A home inspection is the time to evaluate the safety and structure of the home before moving in. You should expect a few significant or minor issues with an older home. A standard home inspection costs $343, depending on size, location, and age. 

6. Older Homes May Have Hazardous Materials 

The materials used in older homes, such as lead and asbestos, may inflict health issues. Lead was mainly used in exterior and interior paint until 1978 when the deferral government banned its use.

Health issues related to lead mainly affect growing children, so if you buy an older home with children, be extra cautious. A professional lead paint inspection costs an average of $600

According to the Mesothelioma Center, asbestos is a carcinogenic material consisting of flexible fibers resistant to heat, electricity, and corrosion.

Until the 1970s, asbestos was used in gas fireplaces, insulation, roofing, and wall patchings. While it was helpful in many ways, it caused significant health issues.

Radon is another hazardous material. It is a radioactive gas created by the natural breakdown of uranium in soil, water, and rock. It is inert, colorless, and odorless, making it difficult to detect in homes.

Getting a radon test before moving into an older home is essential as it can cause lung cancer and other health issues. Professional Radon tests cost anywhere from $146 to $714, depending on the age of your home.

Old lead paint peeling off exterior of home

7. Possible Foundation or Structural Damage

Even if an older home stands, it does not mean there are no hidden dangers or causes for concern. Older homes can have foundation or structural damage. 

Foundation cracks and unevenness can occur, which can cause corrosion, dry rot, moisture, and other significant risks. Look for interior and exterior wall cracks, doors that will not latch, uneven floors, and windows that will not open. 

8. Electrical Problems 

Electrical system issues are tedious and expensive to fix. In older homes, the electrical systems were not designed to keep up with modern usage and appliances. 

If you use a lot of electricity, you may want to ensure your older home can handle it. Look for knob-and-tube wiring, as it can't take the current usage.

Look for two-pronged outlets, frequent power outages, flickering or dim lighting, and warm-to-the-touch light switches and outlets.

9. Roofing Issues 

    It's common for older homes to have roofing issues, which are among the most expensive things to repair or replace.

    Before purchasing a home, look for loose or missing shingles, bowing gutters, leaks or moisture in the attic, moss, or poor repair. A new roof can cost a lot of money, so a roof inspection before purchasing is essential.

    Roof damage on home with chimney

    10. Insects and Pests 

    It's common for older homes to harbor unwanted pests and insects, especially if they have been unoccupied for a lengthy period. Termites are a significant issue, even in newer homes.

    Termites are tiny, pale, soft-bodied insects living in large colonies with several castes. They feed on wood and can be highly destructive to trees and timber.  You may also run into rats, mice, or beetles. 

    Termite damage on wood in older home

    11. Outdated Interior 

    An older home will not have updated appliances and technologies. Open floor plans are also not standard in older homes, having only become popular in the 1970s. Due to outdated interiors, renovations might be necessary to update flooring, lighting, appliances, fixtures, and paint colors. 

    Methodology 

    Data was sourced from Angi and Experian to determine the average prices of specific inspection, renovation, and home insurance costs when buying an older home. 

    FAQs 

    Here are some common questions about buying an older home. 

    Is it smart to buy a 100-year-old house? 

    There is nothing wrong with buying a 100-year-old home, but pest problems, lead paint, and structural issues might be present. 

    What is the disadvantage of buying an old house? 

    Buying an old house can have disadvantages, including root problems from old trees, plumbing issues, and damage to the foundation. 

    Do houses lose value as they age? 

    The physical structure of a home tends to depreciate over time, while the value of the land on which it sits tends to increase. 

    Is an Older Home Right For You? 

    You might be perfect for an older home if you appreciate unique character, don't mind ongoing maintenance projects, have a realistic renovation budget, and plan to stay in the house to see a return on improvement investments.

    Remember, repairing or updating an older home can cost more than you might be willing to spend. It can often cost more to repair and replace than to purchase the home. That said, when looking to buy an older home, please be thorough by looking for yourself and hiring an inspector. 

    It would be best to look for structural damages, water leakage, electrical issues, roofing issues, and outdated characteristics before making a buying decision. This can be expensive, but it may only sometimes be enough to walk away. 

    Do not hesitate to walk away from older homes with significant structural issues, homes requiring complete system replacements that exceed 25% of the purchase price, or properties in declining neighborhoods where improvements won't add value.

    If you're interested in an older home and are moving to Raleigh, please contact us to connect with one of our phenomenal agents. We'd be happy to help you fall in love with one of the many historic homes in Raleigh. 

    WRITTEN BY
    Ryan Fitzgerald
    Ryan Fitzgerald
    Realtor

    Ryan Fitzgerald is a top Realtor®, founder and owner of Raleigh Realty, one of the Triangle’s fastest-growing and most innovative real estate brokerages. Driven by a mission to be the best—not the biggest—brokerage in Raleigh, Ryan has built Raleigh Realty into a firm known for its cutting-edge marketing, high-performing agents, and culture rooted in collaboration, growth, and excellence.

    Raleigh Realty

    Under Ryan’s leadership, Raleigh Realty has become a top boutique brokerage in Raleigh-Durham, serving clients across Wake County and the surrounding areas. Raleigh Realty stands apart for its:

    • Top-Tier Agents – Every Realtor on the team is hand-selected for their skill, professionalism, and client-first approach. Raleigh Realty isn’t about quantity—it’s about quality.

    • Award-Winning Website – RaleighRealty.com is consistently ranked among the best real estate websites with incredible user experience, cutting-edge IDX technology, and hyper-local guides that help buyers and sellers navigate the market.

    • Inbound Lead Generation – With a strong focus on SEO and digital marketing, the brokerage generates a steady flow of organic leads, giving agents the opportunity to grow thriving businesses.

    • Supportive Culture – Ryan emphasizes mentorship, accountability, and autonomy—no micromanaging, just the right systems and tools for agents to succeed.

    • Community Focus – From neighborhood spotlights to relocation guides, Raleigh Realty is committed to being a resource for both buyers and sellers as they make one of life’s biggest decisions.

    The firm continues to expand its reach, with the goal of 100 agents and $1 billion in annual sales volume by 2030—all while staying true to its boutique, client-centered values.

    Awards & Recognition

    Ryan already has notable public credentials and prestige:

    • He has been featured in outlets such as Forbes, Wall Street Journal, U.S. News, among others (as mentioned on the site).

    • Realtor Magazine named him a “Top 30 Under 30” in the country (as noted on his Raleigh Realty page).

    • Raleigh Realty is widely acknowledged in the local real estate community for its digital prowess and thought leadership.

    • The company is consistently ranked among the top real estate firms in Raleigh and is known for having one of the highest-traffic real estate websites in the region.

    Community Involvement & Giving Back

    Ryan’s leadership extends far beyond the closing table. He has built Raleigh Realty to be a company that actively gives back to the community and invests in making Raleigh a better place to live.

    • The Green Chair Project – Ryan and Raleigh Realty proudly support The Green Chair Project, a local nonprofit that provides essential furnishings and household items to families transitioning out of homelessness, crisis, or disaster. By partnering with this organization, Ryan helps ensure families have the comfort and dignity of a furnished home.

    • Food Donations & Drives – Raleigh Realty regularly organizes and contributes to food donation efforts, partnering with local pantries and organizations to help fight food insecurity across Wake County. These efforts bring agents, clients, and neighbors together to support those in need.

    • Local Events & Client Appreciation – Raleigh Realty hosts family-friendly gatherings such as pumpkin patch outings, coffee + donut socials, and seasonal celebrations designed to strengthen neighborhood bonds.

    • Supporting Schools & Youth Programs – Ryan partners with local schools and youth organizations to provide resources, sponsorships, and mentorship opportunities, ensuring that the next generation has access to growth and guidance.

    • Small Business Advocacy – Raleigh Realty proudly highlights and partners with local small businesses, amplifying their visibility and reinforcing Raleigh’s reputation as a vibrant place to live and work.

    For Ryan, success is measured not just in sales, but in the lasting relationships and community impact Raleigh Realty leaves behind.

    AgentLoft – Powering the Next Generation of Realtors

    Ryan is also the visionary behind AgentLoft, a SaaS platform designed to help Realtors nationwide build their brand and generate leads. AgentLoft websites combine IDX technology, SEO expertise, and AI integration to give agents the competitive edge they need.

    Personal Mission

    As a proud father to his daughter Emma, Ryan’s mission is bigger than business. He’s dedicated to building a brokerage and a platform that create opportunity and stability for families, clients, and agents alike. His approach blends entrepreneurship with empathy—ensuring that Raleigh Realty continues to grow not just in sales volume, but in reputation, trust, and impact.


    👉 Whether you’re buying or selling a home, or you’re a Realtor looking for the right brokerage to grow your business, Raleigh Realty—under Ryan Fitzgerald’s leadership—offers the expertise, technology, and community-minded culture to help you succeed.

    Chapters
    01
    What Defines an "Older Home"? 
    02
    Pricing Considerations 
    03
    Expensive Repairs and Updates 
    04
    Insurance and Financing Considerations  
    05
    The Inspection Process
    06
    Older Homes May Have Hazardous Materials 
    07
    Possible Foundation or Structural Damage
    08
    Electrical Problems 
    09
    Roofing Issues 
    10
    Insects and Pests 
    11
    Outdated Interior 

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