Page 53 - February 2018 FOP Newsletter

An article submitted by a Lodge 7 Magazine Sponsor
Solid strategies for vintage home buyers
While some buyers prefer the sleek designer finishes of contemporary homes, others enjoy the
United States each year, so it’s a good plan to have a profes- sional termite inspection done and to request that the sale be contingent on the seller verifying that the home has been treated against such nuisances. It’s also a good idea to take a look through the basement and attic, where ani- mals such as opossums, raccoons, or wasps may have
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d feel of a vintage property. The aes- thetically pleasing architecture of a Colonial, Georgian, or other decades-old residence is often complemented by greater structural soundness, the result of classic, depend- able construction techniques. However, buying vintage requires a discerning eye and
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LISA SANDERS
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e the challenges that may come with
ment of your time, money and effort than new construc- tion — but it can also provide you with a one-of-a-kind dream home that you and your family could enjoy living in for
generations. d
Lisa Sanders of Dream Town Realty has been selling real estate for more than a decade, averaging at least 50 homes per year. Her awards include the Chicago Association of Realtors’ Top 1% Pro- ducer, Five Star Professional Award for exceptional client service, and #1 Realtor in several Chicago neighborhoods.
CHICAGO LODGE 7 ■ FEBRUARY 2018 53
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Real Estate
built nests or hives.
A vintage property may be a more substantial invest-
ownership. Here are a few things for you and your broker to consider if you decide to search the market for an older home. Review the internal systems. Plumbing, heating and electri-
cal systems provide the lifeblood of a comfortable home. While many old homes have had these systems renovated in order to comply with modern building codes, don’t take for granted that the home you’re looking at has been fully updated. Turn on every switch, valve, and faucet as you walk through, making sure that nothing unusual or alarming occurs — it’s a matter of safety as well as convenience.
Pay attention to windows. If the home that you’re looking at still has its original windows, you’ll eventually want to invest in newer models. Older windows tend to be single-pane, and over time they will have developed cracks and leaks around the edges and sills. The result is an energy-inefficient home that loses heat in the colder months and is harder to keep cool in the summer, causing you to spend more money over time.
Look out for lead paint. Prior to 1978, many paints were still made with lead, which can cause heart problems in adults and severely harm brain development in young children. While this doesn’t mean that every house built before 1978 will contain lead-based paint, if you’re going to make a serious offer on such a home, it’s vital to pay for the expertise of a certified lead inspector in addition to the basic home inspection. Know that a professional lead paint removal project can average $10,000. While it may be tempting to do it yourself, it requires signifi- cant caution not to expose yourself to the lead’s toxicity while you work.
Walk every inch of the floors. Floors and stairs in old build- ings may have places where the boards sag, creak or tilt. You’ll also want to look at the floors near the kitchen, bathrooms or any other place where water damage may be present. Check the baseboards to see if there are signs that the floor has been sanded down. While some of these issues might be tolerable or even add a sense of character, others will definitely need re- pairs.
Be aware of bug and animal damage. The longer a house has been around, the more likely that termites and other wood-boring insects may have eaten away at the timbers. The National Pest Management Association estimates that more than $5 billion in damage is done by termites to homes in the