Realistic life expectancy of a house

[Kamil Pieniadz]

I'm currently looking at single family that was built in the 1880s. The game plan is to get into it with a VA loan so I can put no money down and avoid PMI at the same time. I want to live there for a year and then rent it out once I move. My only concern is the age of the home and what kind of life expectancy can I realistically expect from something this old. From the numbers I've ran it would be a cash flow cow but since I typically get insurance that covers the value of the home and not cost to rebuild a new one. Ideally I would like my asset not to implode on itself a couple years after purchase.

[Timothy Smith]

Hey Kamil,

Old homes do have their own particular challenges, there are a few specialty companies out there that deal mainly in remodeling and restoration of "classic" homes. You might want to reach out to some of them and they can fill you in on some of the particulars with old homes, but I have seen homes from the early 1800's, maybe a couple of facelifts and a structural engineer or two but, they're still standing so best case your home could have at least 80 years before it comes crashing down. 

[Jonathan R McLaughlin]

@Kamil Pieniadz the home structure itself can last for something resembling forever. People are still living in things built in the 1700s over in Europe. Question really is the age of the systems-roof-windows-foundation-electric-heating-insulation and how many times they have been renewed/revamped etc. A house built in the 1990s might need a big overhaul as its components are on their last life, one from the 1800s might be on its 5th generation of renewal. Knob and tube, vermiculite, lead...all generational stuff that might have been switched out or still be there. I wouldn't be scared of it just because of age. Higher maintenance? almost certainly. General soundness? Can be fine.

[JD Martin]

The older you get the more you have to pay attention to: mechanical systems (electrical, plumbing, HVAC); roof; foundation; windows; rot/insect/termite damage; insulation. Older houses that were originally expensive houses are a better bet than lower class/factory worker housing. One thing to remember is that cheap houses (in the US) were always cheap houses, no matter when they were built. That said, old lumber was usually old-growth and some of that lumber is virtually petrified so that nothing's going to eat it or rot it. 

[Kamil Pieniadz]

Thanks for the input everyone. I received similar information from my home inspector, who in my opinion, does great work. Just wanted multiple opinions on the topic.

[Account Closed]

in the northeast we see some very old homes that are structurally fine and can last.  when i inspect these homes i look for structural issues.  foundations are a big deal, water flow anything that can contribute to sinking or a major issue down the road.