Older homes can be full of charm and character, but they may also have worn out systems and components - anything from ancient water heaters to sagging floors. The specific issues that will affect your older residence will depend on how well the home has been maintained. If the home has been well cared for you should only expect to perform some minor repairs, but in the majority of cases at least one major system may need updating. Read on to get acquainted with some of the most common issues associated with older homes.

Electrical wiring  in older homes varies, depending on the year they were built. The installation of knob and tube wiring was phased out by 1950, but because of its age, its insulated covering is brittle, and this, and the fact that it is ungrounded is a safety concern for insurance companies. Newer ungrounded cloth-covered cable (Romex) wiring was in use until the late 50s, after which, grounded cable wiring was phased in - first cloth covered, then plastic by the early 70s. Ungrounded two-prong electrical outlets were the norm until 1962, and are still acceptable, but "ungrounded" three-prong receptacle replacements are not. Ungrounded electrical outlets imply that there is dated wiring hidden behind the walls and ceilings, which may need upgrading. It's not unusual for older homes to have several types of wiring installed, as a result of previous renovations.    Plumbing  in an older homes (pre 1960) is usually a mix of old and new materials, and the type you have determines how long it's good for. Cast iron pipe, used until the late 50s, can pit or crack as it corrodes from the inside out, and can leak at the joints.  Galvanized steel pipes can plug up with rust  and mineral deposits and leak at the threaded joints. After 1959 copper plumbing became the norm, and plastic ABS drainage pipes were phased in the mid 60s. These materials have different life spans and should be replaced as needed. Unless the home has had its plumbing gutted recently, you can count on updating at least some of the plumbing in the future.
Energy inefficiency  is common in older homes. Homes built prior to 1965 seldom had insulation in the walls. Because of government programs in the late 70s, most old homes have had additional insulation added in the attics. The best way to save energy is to cut down on convective heat loss, which occurs when warm household air flows through gaps like those around windows or the chimney of a fireplace. This means weather stripping doors and windows, and caulking gaps. If drafts become a serious issue, consider replacing windows and doors and checking fireplace dampers.
Wood Floors  can really show the signs of age - anything from cracks, to burn spots, to loose boards. Each home has to be evaluated on a case by case basis to determine the difference between a cosmetic problem and a significant repair. If there is enough wood thickness to sand the floors and refinish, it's a cosmetic issue. If you have a permanently sagging floor that has been spanned to far from one wall to the other, it may need to be structurally re enforced.  Roofing.  Many flat roofs in the older districts are a patch work of repairs and additions of different ages and materials. In those days, it was also common practice to add multiple layers of shingles over a sloped roof, but eventually this additional weight can cause the roof to sag and these layers should be removed. It is generally acceptable to have up to two layers of shingles on a sloped roof - no more! Make sure that your roof undergoes a careful inspection for remaining life expectancy or for the need of replacement.