For many buyers, owning a piece of history is a dream come true. Historic homes over unmatched character with unique touches you simply won't find anywhere else. However, be sure that you are prepared with all of the information you need before you decide to invest in a historic home.
First, you should verify and research the history of the home. Was it the home of someone who was historically important? If the seller makes claims about the history of the home, be sure to verify them with your own research so you always know exactly what you are buying.
Some buyers may feel uneasy about buying a property that is on the National Register. However, a home on the National Register simply acknowledges the historical role and importance of the property. It does not obligate the owner to restore the property or to make it open to the pubic. However, there may be local codes in place that can prevent certain changes to the home in order to maintain the historic integrity of a neighborhood or historic district. For instance, some strict codes require even minor additions like awnings to be approved by a planning office or review board. Make sure you are familiar with what changes you will be able to make to the home to avoid any unpleasant surprises down the road.
Like with all property purchases, be sure to thoroughly view the home. Look at structural details like walls and roofing. Check the condition of the attack and floors. Make sure there are no cracks in the windows. Be sure to ask with aspects of the home are original and which ones have been restored or replaced.
If you plan on renovating or restoring the home, make sure you factor in that cost into your budget. Get estimates from local contractors to help you get a realistic idea of how much these renovations could cost.
When hiring a home inspector, be sure to find one who has experience in inspecting historic homes. An experienced inspector will know exactly where to look for any possible problems.
Many homeowners find that living in a piece of history is a unique opportunity that provides a number of benefits, and experienced professionals like real estate agents, inspectors and contractors can help make sure it is a sound investment.