How to Spackle Trim for Sanding (video)

I have just moved into a hundred year old home that is sagging on one side. I want to know what kind of options I have before I purchase this house. Is there a cost effective way of fixing this problem????

I noticed on the outside of my home there are cracks alongside the cement on the bottom of the house. I noticed it a while ago, but it seems like the crack has gotten lmuch longer. Is this something I should be worried about? This is a failry old house. Someone told me the house is “settling” What does that mean? And I thought only new houses can settle.
What can I used to patch up these cracks? Cause I believe ants are coming into my home as well. I am looking for a affordable solution and cannot afford a professional to do it, unless this is really a hugh project.
Thanks!

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