I’m going to go ahead and make the assumption that the typical entry level home buyer should avoid buying a 110 year old house. The likelihood of a few gremlins covered by paint before the sale is ‘fairly’ likely in these deals. Are buyers rushing out and getting these under contract with an inspection condition, paying for a inspector to come and then getting a horrific report and backing out of the deal? If someone is buying a place like this and needs an inspection, they already are demonstrating that they aren’t equipped to own a 110 year old house. Anyone owning a house that old needs to be able to operate and maintain it on their own otherwise the cost of living there will be too great to justify the purchase price. These ancient homes may make sense if the price of entry is low enough that funds remain to pour ample major rehab and end of life replacement dollars into the structure. However they aren’t as the homes tend to trade well above land value right now. I guess my point is if the house is cheap enough that you get it free with the land, then maybe it is a cheap futures option on land speculation and a house hack that lets someone live for free. More likely the house is just a money pit and endless energy drain for a new buyer. A buyer who stretched to get a house wants to live trouble free for a few years and rebuild their savings. In a 110 year old house is that likely ?
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