Old houses are great with lot's off character and all that stuff, but
materials REALLY degrade after 100 yrs!! Don't buy a money pit, you
will hate it. Make sure the electrical is good, with new wiring, goood
plumbing, and if the foundation is bad or crumbly beware. Especially
look at the wood for termites. I was in Eureka Ca a few years back
where they have many Victorian homes, and saw a crew ppulling out all
the huge floor joist's from under the house, and replacing them due to
termites and rot. VERY expensive job. If you don't have 100K to put
into the house, be sure and do all your homework.

You have NEVER experienced buyer's remorse the way you will if you buy
a house full of nasty surprises. It happened to me once, bought a house
in San Diego in '89 for 220K. Gorgeous house on .5 acre, 2400+ sq. ft.
with pool. But it turned out to be a money pit, water problems, poorly
maintained, etc. On top of that the housing market turned south in '89
in southern cal and didn't recover until '98. I had to sell for a loss
in '97.

DO YOUR HOMEWORK!!