Real Estate

Experiences with buying 15-25 year old townhouses?

  • Last Updated:
  • May 1st, 2021 5:39 pm
[OP]
Newbie
Jun 23, 2017
30 posts
9 upvotes

Experiences with buying 15-25 year old townhouses?

Hi,

Just wanted to hear what RFD's experiences, knowledge and advice here is on buying old townhouse (15-25 years)? I'm based in Vancouver.

What I've gathered from my research is that if major repairs like roofing has been done and it passes inspection, it should be OK.

Some specific questions I had:

1. Is a 15-25 year old townhouse a bad idea in general? In terms of appreciation, repairs? What should I consider and be aware of?

2. If a townhouse has done a major update like roofing, would you be more inclined to buy the townhouse?

3. What things should I consider/be aware of when purchasing an old townhouse?

Any advice and experiences would help me a lot.

Thank you!
1 reply
Deal Addict
Oct 13, 2006
2437 posts
904 upvotes
Burnaby
No different then any other real estate purchase. If its a strata building, read the minutes; keep in mind you are in the leaky condo era. Wood frame(?), is it stacked? Look over the financials to see what type of balance it has for future repairs. I'm guess it has in suite water heater , electric (?), if so be prepared for higher hydro bills. Pest control, look for any issues pertaining to carpenter ants if wood frame.

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