Buying your Old Home
photo credit desiretoinsprie.net
The beginning of a home journey always begins with the purchase. And oftentimes even before the purchase, there is a ‘hunt’, a sometimes short but often long, roller coaster filled with highs and lows and a myriad of emotions as one seeks to find that ‘perfect match’. It has been reported that 40% of Americans view buying a home as the most stressful purchase of their life, with 30% reduced to tears at some point (or at many points as in my case). And to add a cherry on top, if you are seeking a one of a kind, historic or period home these numbers I’m sure would increase by a zillion. Going against the ‘modern tide’ and searching for a home that may look and feel unlike anyone’s in the carpool lane can be daunting, overwhelming, and at times seem downright impossible. I’m here to change that.
This month on ‘A Quarter ‘Til Wine’ I have been talking with professionals whose sole mission is to support homeowners, more specifically buyers, of old homes. In an effort to support and provide resources it is my goal that this path is accessible to anyone who wants it and that path is a successful one. Knowing who to call when things get rocky makes all the difference, between floundering and excelling, and in turn makes the difference in how many of these old homes survive for another generation.
Yesterday I had the lovely pleasure of speaking with Erin Keegan on ‘A Quarter ‘Til Wine’. Erin is a real estate agent based in Los Angeles who helps buyers searching for historical and architecturally relevant homes. She divulged the 411 of what that journey looks like and how to succeed at one of the hardest things you’ll ever do.
Be Flexible With your List
One of the first things most buyers do is provide their agent with a list of everything they want in their new home. ‘Easily walkable neighborhood, close to public transportation, with a large yard, attached garage, large kitchen, first floor main bedroom, fully restored home for no more than $90,000’ Now I have been in many markets and have yet to uncover this gem but even if you are lucky enough to stumble upon a home meeting everything on your checklist chances are…
‘If you’re excited so is everyone else’
As you dive deeper into your home buying journey your list of must haves may change and that is ok. Compromise is the name of the game, and without it you will find yourself frustrated and defeated. While using your head is necessary, leading with your heart will allow for the truly non negotiables to rise to the top and make way for the unexpected benefits you never knew you wanted.
Original is OK as long as it’s pretty
While Erin is not an appraisal hersef I did ask her perspective on original finishes being a benefit or deterrent when it comes to appraisals. Would an original bathroom get dinged for not being ‘updated’ or would a historic home actually lose value if it was ripped out for something new? The answer in short, “who knows”. Values of homes often come down to if the buyer values it or not. However, one notable piece of advice is whatever you decide ‘make it look good’.
Original tile can be just as valuable as any ‘newly renovated’ however it must be properly restored which primarily means cleaning and maintaining the structural integrity (grout, mortar etc.). I realize it sounds simple but a bathroom that makes you go ‘eww’ vs. ‘oh.. ah...’ is generally just a good old fashioned scrubbing. Ensuring that the original components are in good working order is of course a must, but don’t be discouraged by the mint green tile in your 1940’s bathroom. It's gorgeous and structurally more sound than anything you could replace it with. And, of course, if you can’t see the vision there are professionals out there walking homeowners through these very things (I happen to know a gal ;-).
Inspections, inspections, inspections!!
Can we shout this from the rooftops one more time for the people in the back? INSPECTIONS INSPECTIONS INSPECTIONS!!! While critical in every purchase they will be invaluable if your focus is anything historical or period. HOWEVER, instead of running scared (because it is almost inevitable that you’ll want to go running) use this as a road map of where to start first and assess if this home is the right fit for you. It is much easier to walk away now rather than to get into a mess you aren’t prepared for. The truth is though, if you are working with a knowledgeable realtor who has a network of professionals who she can provide you these scary things become manageable, bite size pieces you can take on. In addition to your general inspection, remember to include termite and sewer inspections as well. These are big ticket items if they need to be remedied and something you don’t want to be caught off guard having to take on.
When it is all said and done it is important to remember that much like falling in love, growing a family, the home buying and owning experience is one that requires patience, trust and a whole lot of guts. A process that is a reflection of the tapestry of our communities and one that should be cherished.
“When I moved to South LA in 2008, I was moved by the stories of neighbors helping neighbors to restore their homes in the 80's and 90’s. I am genuinely excited by things like this. Eager and curious as hell. Willing to try, willing to fail, and problem solve. I can’t wait to see these kinds of before and afters and love sharing knowledge with others.
Restoring an old home is an intimate one. It’s a practice in patience, in slowing down, and at moments filled beautiful meditation.
In a world filled with perfect Instagrammable moments, this is my small contribution to keeping this spirit alive in a community I adore I adore with all my heart.”