Remodeling an Older Home

What to know before you buy:

• Older homes may not meet modern building codes. For example, bathrooms now require outside venting, and fireplaces and furnaces need separate flues. Renovations must meet any and all current codes.
• Insurance companies may insist you update electrical, plumbing, and heating systems before issuing a homeowner's policy.
• Walls hide a multitude of surprises, such as deteriorated wood and crumbling plumbing. Budget 10—15 percent extra to cover hidden costs.
• Previous remodeling can create problems. Hiring a structural engineer to assess a house before buying can save money later.