In buying a house, built over 100 years ago, there can be two types of risks – Risk of living in such an old home, and Reselling.
Risk in Living: Main things to look at in such an old home will be foundation, electrical and plumbing. Electrical and Plumbing must be updated from older systems. For foundation check for settling, water or cracks. These things can be observed during the inspection. If all is good, then there are not much different from buying a newer home.
Resale Risk: There is no additional upside in the property as compared to what it is now. Structurally house has stayed for over 100 years, and it will be of same strength in next 5-10 years and even longer. It will be the market that will determine the additional value of the property, as the house is not expected to change much in this timeframe if maintained well.
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