Age of property, impact on sale price

[Ergys Cavo]

Hello Everyone,

I hope you all having a profitable year so far.

I'm about to buy a property in New Jersey which has been maintained very well but it was built in 1900. Would anyone know if the age of the property could be an issue later on to sell the property at market value?

Thanks in advance for your answers.

[Jeffrey H.]

You just need to be on the look out for the older things that are high risk - lead based paint, knob and tube electrical, and asbestos.  These are risks with any home that age and unless the home has been taken down to the studs... you can assume it probably has something like that in the walls or basement, regardless of what the Seller tells you.  A very good inspector can probably do some additional prodding to get some indicators if any are there, but it's never with 100% certainty.

Do as much diligence as you can on the home with electricians, asbestos pros, etc and you should be better off than the next purchaser - they shouldn't find anything you didn't.

Good luck.