The Pros and Cons of Owning an Historic Home

There is nothing quite like seeing a beautifully update historic home. It marries both the modern and history. When in an historic home, there is a sense of richness because if the walls could talk, they would tell tales of great joy and sorrow that comes into all our lives. But what does it mean to own one? Now an historic home is different than simply buying an old or vintage home.

Several factors can play into whether or not a home is considered an historic home. Age, the architect or builder, who lived in the home, who visited the home, etc. And it needs to be identified as historic by a certain body, and there are local to federal levels, depending on the historical significance.

If you are considering buying an historical home, you can look at both the National Register of Historic Places and the National Trust for Historic Preservation. Your real estate agent can also be an excellent resource in helping you find the home you’re dreaming of. Because there are a limited number of historic homes, you need to be prepared to wait until a home comes on the market, and when it does, you need to be able to move fast to make an offer.

Historic homes offer rich architectural details a modern home will likely not have. If you choose to renovate, you need to follow guidelines set out for historically registered homes, but it also offers you the unique opportunity to preserve a part of your city’s history, while living in a home rich with stories and lives lived.

It is important to consider two factors in owning an historic home: cost and features.

1. Cost

Usually old homes can be more expensive to renovate and can hide old, hidden problems. This can occur both in renovation and upkeep costs. So, you need to decide if this is something you’re willing to do.

2. Features

Secondly, an historic home can be renovated, but unlike an older home not deemed historic, you have a set of regulations and guidelines to follow and you may not be able to tear down that wall for a walk-in closet to maintain the integrity of the history and architecture of the home.

Again, list out the pros and cons for what you want in a home and go from there as you decide to dive into the world of historic homes.