Bargain Fixer-Upper or Money Pit? Houses Built 1920s to 1940s

Homes built after the turn of the century (1920s to 1940s) have withstood time but many need to upgrade to current code.

Most common problems in older homes:

  • Water damage including rot, mildew and mold
  • Undermined foundations
  • Faulty electrical systems
  • Rusty, clogged steel water-supply pipes
  • Hazardous balloon framing
  • Uninsulated walls and ductwork
  • Cracking plaster
  • Asbestos and lead

Knob-and-tube wiring strung along wooden framing on ceramic knobs and run through lumber via ceramic tubes was prevalent until the 1940s, but it needs replacing.  They will not support the multiple electronics we use today;  overloaded circuits can cause fires.

Approximate cost of repairs:

  • Foundation – $30,000
  • Complete electrical – $8,000 to $20,000
  • Replacing pipes – $2000 and up.

Contact the appraisers at www.socalappraisalserv.com for your cost to value issues.

Also you may find tax rebates/incentives to make the property efficient.

Disclaimer: For Information and Entertainment Purposes Only

 

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