Many older homes have problems and antiquated floor plans. They might have old plumbing, electrical, and HVAC systems. Many don't have central air conditioning. Updating these systems is challenging and expensive. It can involve opening the walls. Understand what type of systems exist before buying a home.
Terrifying steep staircase
Historic homes often have floor plans suitable for a different era. They are carved up into small rooms. The staircases are often narrow and steep. In my house, I opened up the rooms to combine the kitchen, dining room, and living room into one space. Now it feels spacious. Although having an open floor plan comes with its own challenges.
If you hope to change your house this might be a challenge. In my area, it's possible to do an addition equal to 50% of the footprint that existed before 1945. Historical records are used to determine this footprint. Additionally, you might need to renovate instead of replace any windows. Certain types of siding might need to be used. Vinyl is often not allowed. Garages are also restricted. Sometimes historic garages cannot be torn down, even if it is unusable in its current format. Many times, an attached garage is not allowed.
Using a mixture of historic aerial photos and an examination of building materials I was able to prove that my dilapidated garage was built in the 1960s and received approval to tear it down. Otherwise, I would have been required to keep it intact.
Do research in your area and speak with current homeowners. Some new buyers are shocked to learn that they can't do whatever they'd like with their home.