Is Historic Home Right Investment For You?

It’s very hard to determine what is right and what is not because different home buyers have different taste and preference. For me, I am more of a historic home kind of person, and if you’re just like me you may want to take these factors into consideration as you shop.


Beware of restrictions

As you know different states have different regulations when it comes to historic homes and neighborhoods. From what I know, many towns throughout the U.S. have zoning and planning commissions that, among other things, set out to preserve and protect historic homes and neighborhoods. So, if you’re looking to change or renovate a historic home you may require a separate layer of approval in order to proceed.


As a result, renovations and planning can take longer and cost more if your intention is to renovate it. Before you start making any decisions, it would be much better if you consult both an architect and town officials to further understand the regulations and policies for historic homes. Many people fail to look at this matter, as a result, it costs them much more than they expected.


Recreating architecture from the past

Be prepared to spend a huge sum of money and roadblocks ahead if you’re planning to recreate the structure. Let’s just consider the example of Victorian-era homes. Contractors and home builders constructed Victorian homes through the mid to late 19th century, often with materials that are no longer in use today which can be really hard to find and even if you’re able to find them it will definitely burn a hole in your wallet. If you do not have much capital on hand I would suggest you to not do it.


Repair and maintenance needs could be extensive

I would say that most buyers today want a home that is ready to move in because they don’t have the time, money or energy to renovate the entire home from scratch. It not only wastes time but also additional costs. So if you want a historic home, you need to have a backup strategy in mind because maintaining a historic home can be difficult and costly. Unless you plan to do major renovations or updates (subject to any landmark or historic area regulations), you have to be ready to address issues that arise. Broken systems, leaks or flaws mean time and money.


With all that being said, I know that for a person that truly appreciates the architecture knows that intensive maintenance is unavoidable but if you don’t share that appreciation, a historic home may not be the right choice for you. If you’re new I would recommend you consult professional first and make a list of comparison before you dive in. Good luck!

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