I must've gotten lucky. I bought a house that was built in the 40's and had very few things to do to it.

Brick fascades are great in the game of not having to paint the place, and they help add a bit to keeping the cold outside. They can actually hide foundation problems in their early stages. As with anything that old, a home inspection can save much grief. Old homes are awesome. They carry an atmosphere that cannot be matched by any modern home. Like with anything, the care of the previous owner will dictate directly into the amount of money you're going to spend to get it up to your specs.