Rookie Q: How old is TOO old?

Question

I have noticed a few MFU here in Louisville that check some criteria, but are quite old. Some were built in 1900-1920s. I know maintenance is worse in old buildings, but how old is TOO old? What age or year built is too old for you and why? I'm afraid of drawing the short straw of being stuck with a crumbling building that needs rebuilt to the foundation and not having the money to do so. Is that even a realistic concern?

Simcha Davidman · Answer

@Bronson Simmons you're right, as a general rule, older buildings will require more maintenance. You should try to find out what type of maintenance or large repairs have been made over the last 100 years :) For example, have the water or sewage lines been replaced? What about the electric wiring? If a house is properly maintained and upgraded, it can stand for a long, long time. Just properly reserve/budget for big ticket items.

Good luck!

Peri Eryigit · Answer

All our homes are from the 1900s. A lot of 3/4 plexes seem to be from that time since those houses were so big. Plumbing has been the biggest issue for us but we generally replace a lot of it when we do updates to the kitchens and bathrooms. There's a lot of room for forced appreciation on those older homes so all our updates have had great ROI so far. If you're ripping out old stuff for cosmetic updates anyway it's not too much work to update some of the stuff behind the walls as well...At least in our limited experience.