I am in the process of buying a house that was built in 1908. The house has belonged to the same family since it was built, but we were told the seller was forced to sell due to unexpected illness. The cons of this house - it is knob and tube wiring on the second floor, and for some of the ceiling lights on the first floor. The breaker box is old. The house needs gutters and radon mitigation, and the original windows need restoration. I was able to have an electrician go in after the general inspector to give me an idea of what I am working with, but unfortunately the realtor/seller's family requested we hold off on further inspections until after closing because the seller, who is relatively young, has dementia and they are greatly stressing him on his good days.
The good things! It's really been kept in it's original condition so it is very charming, hardwood floors, it's relatively large, has a fenced in double lot yard, a 2 car garage, and it is located next to lots of walking trails/woods. The neighborhood is a close-knit community. Roof, water heater, boiler, and exterior siding are new. Sewer scope came back great. It has clearly been loved and the seller was intending to live in it and was in the middle of rehabbing the place.
I do have enough funds after closing to at least rewire the knob and tube, install gutters, and put in radon mitigation. I'm hoping the other expected and unexpected repairs can wait until I have had more time to save. For those with old houses - is there anything I should be considering before closing that I am missing? What unexpected repairs have you had to make? I know that first time home buyer anxiety is normal, but I am so afraid of making a bad decision.