Buy and Hold with Older Homes

[Max H.]

I live in the Philadelphia area where the housing stock is pretty old. A lot of the homes are 100+ years old now. I'm 28 and thinking of buying a triplex that was built in 1910, I would ideally hold this property for the next 15-20 years. My concern is by the time I am ready to sell that the home will be almost 130 years old and the market for a home that old will be slim. 

The house has updated plumbing, electric, roof, windows, and all that but does anyone see an issue with a buy and hold strategy on older homes? 

[Paulette Midgette]

@Max H., a few points to consider.  One, Philadelphia is one of the original 13 colonies.  We have building here the original Quakers built, Besty Ross's house is still standing, and thousands of people walk through Independence Hall (where the Declaration of Independence was created and the Constitution of America debated).  

Two, the homes built in the last Philadelphia housing construction boom (prior to this one) was in the 1940s.  These were neighborhoods such as Mt. Airy, Burholme, Overbrook, etc.  

Three, the advantage of purchasing in Philadelphia is while the housing stock might be old the bones are solid.  The home in Philly are brick and/or stone, plaster walls and hardwoods under all that carpet.  You can take a row home in Philly tear out the insides and rebuild new innards.  I am willing to bet that home we last another 100 years.

Four, Do an internet search on the Philadelphia Row Home manuel.  I think you will find this a available resource as you research Philadelphia area homes.