Before writing your offer on that historic home, consider these factors…
Many home buyers want a move-in ready home, but a large amount of people prefer older homes. Character and charm just isn’t found as often in newer homes. If older, historic homes are on your wishlist, take these factors into consideration:
1. Some Historic Areas Have Restrictions
Many towns throughout the United States have commissions that protect historical districts and neighborhoods. Depending on the town, historic homes will sometimes required an entirely separate layer of approval, not to mention the bureaucracy around it. For example, if you were to buy a 100-year-old home, you may not be able to renovate it the way you want. Many historic districts have a large amount of control surrounding historical properties and, as a result, renovations can take much longer and cost more. If you want to buy a historic home with the intent to renovate it, consider consulting an architect and town officials before you start.
2. Recreating Architecture Can Be Expensive
Homes from different time periods all have distinct styles unique to that time period. For example, Victorian-era homes constructed in the mid to late 19th century often were constructed with materials not in use today. If you buy a Victorian home with the intention of fixing it up, you may find trouble reconstructing the wainscoting, picture rails, crown moldings, or other decorative features that would’ve been common in Victorian architecture.
3. Repair And Maintenance Can Be Expensive
If you’re thinking about purchasing a historical home, you need to have a maintenance strategy in place. Major renovations such as broken systems, leaks, or other important structural flaws always cost time and money, especially with these homes. You should be ready to address any and all issues that arise from a historical property.
If you’re a history buff, there’s no amount of time or money that will stand in your way to have a one-of-a-kind home. Appreciating the architecture, having an understanding of the intensive maintenance and repairs your new home might need are the first steps of this great journey. If this doesn’t sound like you, then maybe a historical property isn’t the right fit for you.
Whatever type of home you’re considering, contact me. I’ll be happy to help you find the home of your dreams!