7 Dangers of Buying an Old House in Victoria, BC
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- เผยแพร่เมื่อ 12 ก.ค. 2024
- Old houses can have wonderful charm, amazing neighbourhoods and big spacious backyards but there are some hidden dangers to consider when writing your offer. We'll look at 7 common expensive pitfalls and risks when buying an older house in Victoria, BC (or anywhere in the world!). Did I miss any? Let me know!
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0:00 Intro
0:33 Perimeter Drains
1:00 The Roof
1:25 Oil Tanks
1:56 Wiring
2:23 Plumbing
2:49 Asbestos
3:43 Insurance Issues
4:35 Siding
DISCLAIMER: It's important to note that the views expressed in this video are solely my own and do not represent those of Coldwell Banker Oceanside, VREB, BCREA or any other organization with which I may be affiliated with. No agency relationship is created and any conversation resulting from these videos will be first conducted only after a Disclosure of Representation Agreement has been presented. These opinions should not be relied upon as financial advice. Always conduct your own research and consult with appropriate legal, accounting and financial professionals before making any real estate decisions.
Did I miss anything to watch out for in an old house? Let me know
Many thx, Mr. Willey.
You have certainly opened my eyes.
I am not in the market to buy, but i'm now, thx to your video, much more informed about the pitfalls of older - even if charming! - homes.
I've gained a new respect for all the regulations that, at first appearance, have seemed to be simply burdensome.
Your video should be compulsory viewing for home buyers.
Well done!
Ira, thanks for this, you're a star when it comes to assisting buyers & sellers.
Thank you for the kind words!
Good information!
Unfortunately some (retired) residence in my area with no mortgage have had their insurance cancelled due to older house issues they can not afford to repair.
The homes are well built and close to all amenities. They don't want to live in a 'bee hive.'
I bet if everyone in an old home in Victoria had to apply again for insurance from scratch most would not be insurable without major work. Just like how most homeowners probably can't qualify for their mortgages.
We agreed with Diesel735.
That is why some older relatives and friends of ours decided NOT to sell their homes !
They don't want to spend all their energy, time and money to fix up their 30 to 50 year old houses and then sell it to someone else to enjoy. They might as well stay and forget about buying a newer home.
Great for Renovation companies, but bad for the 1,600 + realtors in Victoria.
They want your house for aboriginals and immigrants.
On the home insurance is there an issue now about how close the property is to woodland due to the BC wildfires? And insurance prices seem to be going up and up in the last two or three years.
the outside light is mounted upside down, what a bad first impression
Good catch!
Here is my list for new homes built since the 70's. Built with wafer and chipboard. Any moisture and they will rot to mush. And there will be moisture . A roofing contractor told me that every house will need the waferboard sheathing replace when putting a new roof on. Lots of toxic fumes off those products too. Subpar concrete in the foundation and driveway that may meet code but the code has a low barrier these days .Watch for cracks in them. Structural lumber is garbage too. Watch your walls and ceiling get bulges and crack and nails pop out. Lots of them built on covered up landfills or toxic waste disposal sites and the good lots were built n a long time ago. And the contractors are incompetent and overpriced these days , looking to cut corners. Using nails too small or not galvanize when they should be or cheap Chinese ones that look good but are made from inferior metal. I could go on and on but I will never buy a house newer than the 60's.
Victoria has a lot of moldy homes that are making them sick.
old houses are kept together by paint, etc
Mold, then there is mold, and after that, there is mold.
Spoiler Alert. I have a fridge that beeps when it detects mold.
@IraWilley There is no mold alerts for leaky basements, attics, and walls. It is the wet coast afterall , but yes .... your fridge will be fine.
Anything pre 1980 in Canada has potential for asbestos materials. That could be insulation, floor tile and adhesive, pipe wrapping and especially drywall mud and ceiling stipple.
Same in the US. Wasn’t outlawed till about 1979.