The Philippines is the type of country that would rather buy a fresh and new home than to buy an old one. Filipinos are known for being superstitious, and buying an old home can trigger some of those sometimes senseless fear that we feel.
But that doesn’t mean that buying an old home is not beneficial. For one thing, an old home already has an increase in value and renovation is quite easier than building. The only problem left is the structural issues that an old home must be suffering.
Planning on buying an old home? Below are some tips on how you can manage those pesky structural issues.
Termite damage
Termites are one of the most common cause of structural damage. Older homes have more tendency to have termites because of drywalls or unsafe foundations.
What you should do: Before killing the termites, find out first their food source. Remove any wood, lumber, and paper debris that might become the home for the insects’ colony. Grind any stumps located near your home so that they can never come back.
Plumbing
Flood is a problem here in the Philippines and having a damaged pipeline won’t be able to help you. Water damage in the floors and walls can cause you a ton of money and decrease the value of the property.
What you should do: Changing pipelines can cause a lot. Ask the seller of the house if he or she can install new ones before you move in. If not, ask yourself if the house is worth all the trouble.
Mold damage
A property may experience mold and mildew problems over the course of years. Infestations may grow inside these mold that may harm the structure of the house and also your family’s health.
What you should do: If the molds are mild, buy mold spray, abrasive brushes, and kitchen gloves to remove the mold. If it’s big, ask an inspector to compute the amount that you have to pay for.
Foundation problems
Unfortunately, older homes are more prone to foundation problems. This can be a serious problem especially when an intense earthquake arrives.
What you should do: Any foundation problems require the help of an engineer and an inspector. Calculate the costs of renovation. If the house is still worth it, use homeowners insurance policy to cut all the costs.
Electrical system failure
You may want more electrical sockets for your new home. Or you may also want to update the old property’s electrical since 20 years may be a bit hazardous to the whole home.
What you should do: Hire a technician who may handle the house’s electrical system.
Make sure that all the costs that you are going to use is worth the house that you’re getting. If not, there’s still time to look for another home.
Image source: http://www.persquare.com.ph/for-sale/house-lot-ncr-metro-manila-quezon-city/house-lot-for-sale-in-teachers-village-quezon-city_1720a0851ac697d816e7aa0314bb70805947f17 -Property Hunter Realty
