What should buyers budget for when buying an older home in Markham?Older Markham homes can be great value, but some features affect insurance and budgets. Many insurers will not cover knob-and-tube wiring or require it to be replaced, and some require an ESA inspection for aluminum wiring from the mid-1960s to late 1970s. Kitec plumbing, installed from 1995 to 2007, can lead to declined coverage or higher deductibles. Insurers also ask about roof age and oil tanks. Get an insurance quote during your condition period, price the fixes with contractors, and use those numbers to negotiate.
Markham’s older homes often sit on larger lots in established neighbourhoods, which is a big part of their appeal. The trade-off is that original systems may be near the end of their life, and insurers look at them closely.
Michael John Lau, a REALTOR® with the Kaizen Real Estate Team, one of the most active real estate teams in Markham and York Region, helps buyers of older homes turn inspection findings into a clear budget and a fair offer.
The insurance question comes first
Before you firm up, get a home insurance quote on the specific property. Insurers commonly ask about:
| Feature | Why insurers care |
|---|---|
| Knob-and-tube wiring | Many will not cover it or require replacement |
| Aluminum wiring | Some require an ESA inspection and certificate |
| Kitec plumbing | Fittings can corrode; coverage may be declined or deductibles raised |
| Poly-B plumbing | Can affect insurability |
| Roof age | Older roofs raise the risk of water claims |
| Oil tank, current or past | Spill risk; some insurers refuse tanks of unknown age |
| Wood stove | Insurers often require a WETT inspection |
If an insurer requires repairs, ask for the requirement in writing and how long you have to complete it.
Wiring by era
- Knob-and-tube (early 1900s to 1940s): rare in Markham’s subdivisions, but possible in heritage homes in the village cores.
- Aluminum branch wiring (mid-1960s to late 1970s): more common in Markham homes from that era. The Electrical Safety Authority recommends having it assessed; repairs by a licensed electrical contractor with an ESA certificate can satisfy many insurers.
- Older panels: small or outdated panels may limit air conditioning, EV charging or renovations.
Plumbing and sewer lines
- Kitec (1995 to 2007): common in some Markham homes built in that period; look for orange or blue pipe and brass fittings.
- Poly-B (mid-1970s to 1990s): grey plastic pipe.
- Clay sewer laterals: in older homes with mature trees, a sewer camera inspection can find roots or cracks.
Considering an older Markham home?
Michael John Lau can help you plan the inspection, insurance quote and repair budget before you firm up.
Book a buyer consultationSearch Markham homesPrefer to talk? Call the Kaizen Real Estate Team at (647) 370-8885.
Roofs, windows and insulation
Architectural asphalt shingles typically last about 22 to 30 years and three-tab shingles about 15 to 20, according to BuildersOntario, with installed costs of about $5.50 to $8.50 per square foot for architectural shingles in 2026. Ask the roof’s age and look for receipts. Older windows and thin attic insulation raise heating costs; Ontario’s Home Renovation Savings Program lists a $1,250 rebate for attic insulation.
Turning findings into a budget
- List each issue from the inspection, with its urgency.
- Get written contractor quotes during your condition period where possible.
- Separate insurer-required fixes from nice-to-haves.
- Add a contingency of 10% to 20% for older homes.
- Check rebates that apply to upgrades.
Negotiating on an older home
With quotes in hand, you can ask for a price adjustment, a credit on closing or repairs before closing. Sellers often prefer a price adjustment to managing contractors. Be clear about what is required by an insurer versus normal wear. For the full inspection list, see the Markham home inspection checklist.
Questions to ask the seller
- When were the roof, furnace, air conditioner and water heater last replaced?
- Has the wiring or plumbing been updated, and are there ESA certificates or permits?
- Has there ever been an oil tank on the property?
- Has the basement had water, and was it repaired?
- Are there any open permits or insurance claims?
Written answers and receipts help your insurer, your lender and your own budget.
Is an older home right for you?
An older home can offer more land, mature trees and a better location for the money, if you are ready for some upgrades. A newer home may cost more but carry fewer near-term surprises. Ultimately, the decision is yours. The goal is to make sure you have all the information before you offer.
Older homes reward buyers who budget for them. Call the Kaizen Real Estate Team at (647) 370-8885 or book a consultation.
Frequently asked questions
Can I get insurance on a house with knob-and-tube wiring in Ontario?
Many insurers will not cover it or will require it to be replaced. Get a quote before you firm up.
Is aluminum wiring a problem for insurance?
Some insurers require an ESA inspection or repairs. A licensed electrical contractor and an ESA certificate can help.
What is Kitec plumbing and why does it matter?
Plumbing installed from about 1995 to 2007 with brass fittings that can corrode. Insurers may decline coverage or raise deductibles.
How long does an asphalt roof last?
About 22 to 30 years for architectural shingles and 15 to 20 years for three-tab shingles, according to BuildersOntario.
Should I get an insurance quote before firming up?
Yes. It is the best way to find out whether any feature of the home affects coverage or cost.
How much contingency should I budget for an older home?
Many buyers set aside 10% to 20% of the planned repair budget for surprises.
Michael John Lau and Neeraj Moolchandani are licensed REALTORS® with the Kaizen Real Estate Team, eXp Realty, Brokerage, 9763 Markham Rd, Markham, ON L6E 1A4. Licence #4784577. Call (647) 370-8885. Wiring guidance is from the Electrical Safety Authority. Kitec and Poly-B details are from Square One (September 14, 2026) and MyChoice (September 24, 2026). Roof costs and lifespans are from BuildersOntario (October 2026). Oil tank and insurance details are from Economical Insurance and Bob Aaron. Rebates are from Save on Energy. The contingency range is a general planning guide. This article is general information only and is not financial, legal or tax advice. Not intended to solicit buyers or sellers currently under contract with another brokerage.
