Should You Buy A Historic House?

While some home buyers prefer the modern lines and conveniences of new construction homes, others crave the charisma and character of an older home. With grandiose woodwork and large, sprawling rooms, these homes demand appreciation.

Unfortunately, as beautiful as historic homes can be, they often come with flaws that many homebuyers fail to realize until its too late. It takes the right type of person to own and appreciate an older home, so if you’re thinking you might be that type of person, be sure to consider the following as you shop historic neighborhoods for your next humble abode.

You Could be Restricted if You Buy a Historic Home

Many historic neighborhoods have housing authorities whose job it is to protect and preserve the historic properties in the community. As a result, if you purchase one of these homes, you may not be able to renovate as you’d like unless you get approval from the proper zoning and planning commissions.

Before purchasing a historic house that you plan to make changes to, it’s best to contact an architect and town officials as these changes could take a long time and be very expensive.

Recreating Old Styles Can be Challenging and Expensive

If you purchase an old Victorian home in need of work, it can be challenging finding the right materials to bring it back to its former glory. Furthermore, if you do find the crown molding, wainscoting, and other ornate features found in Victorian homes, it will likely come at a steep price.

Repair and Maintenance Needs Could be Extensive

Move-in ready homes are attractive to a majority of homebuyers because they don’t want to be bothered with outdated technology and worn-out systems that could go out at any moment. A lot of buyers simply don’t have the time or money it takes to make repairs to bring a home up to speed. For these homebuyers, it comes down to quality vs. character.

If you still dream of owning a historic home, you have to have a maintenance and repair plan in place. If you don’t plan to make major upgrades right away, you have to be prepared, both in time and money, to address issues as they arise. Leaks, broken down systems, and other flaws require attention immediately, which equates to major time and/or money commitment.

If you’re a history buff, you appreciate the charm of an older home and no amount of time or monetary commitment is too much to keep you from having your one-of-a-kind house. Just keep the above-mentioned points in mind as you search for your dream historic home.