All Forum Posts by: Richard Dorn

@Michael Norris Thank you for your response.

That all seems to make sense, but her age-range seems a little low. With a little googleing it seems many of those systems have typical lifespans of 50 or 60 years. Perhaps those estimates are grossly over inflated.

Will the insurance companies require updates based on the results of an inspection or just the age of the house/last update?

Hello, All!

I spoke with a local Insurance Broker recently to get a better understanding of the potential complications when buying old, vacant homes to rehab into rental properties. 

She mentioned that I would need to show proof of updating electric, plumbing, heating and AC in order to get insurance on homes older than 25 - 30 years.

Is this true? Are there any exceptions to be aware of? Would I have to rewire all the electrical or would there be some lesser update that is acceptable?

Any help is appreciated!