When it comes to buying a house, you have plenty of options. Between location, architectural style, floor plans, and amenities, you can get as specific as you’d like. But, without a doubt, nothing beats the charm of a historic home. The question is, what do you look for when buying a historic home?
Historic houses have a unique allure that new constructions often lack. They’re more than just buildings; they are portals to the past that offer a tangible connection to the architectural trends, craftsmanship, and ways of life that prevailed when they were built.
Historic properties often exude a charm and character that’s hard to replicate in a newly built property. They carry distinctive features like original woodwork, crown molding, stained glass windows, ornate fireplaces, and antique fixtures that are rarely found in modern constructions. These details contribute to a unique aesthetic appeal, often reflecting an artisanal level of craftsmanship that’s unheard of in today’s market.
Owning a historic house or historic building involves preserving a piece of architectural history. It’s about honoring the past and ensuring that the structure continues to tell its story to future generations. This sense of stewardship can be deeply rewarding.
But for all of the allure, there are challenges associated with historic homes, too. When you own a piece of architectural history, it’s not always easy to maintain and keep up to code. There might even be local preservation codes by the historic districts in your town that say what you can and can’t do with the property.
Having a plan for what to look for when buying a historic home goes a long way toward setting you up for successful home ownership.
You have to be conscientious and detail-oriented when buying any house – but especially a historic home that was built 50-100 years ago. Here are some key aspects to consider and evaluate as you go through this process:
Owning a slice of history is exciting, but it can bring some financial challenges and unique complexities into the equation. For one, historic homes usually require more expensive maintenance and renovations. If you’re planning on making changes, you may have to use very specific materials and contractors to get the job done.
Next, there’s insurance to think about. Because of the higher overall risk associated with historic homes, you may face more expensive premiums and policies. Just be aware of this and always shop around for multiple different quotes.
One positive associated with historic homes is the potential tax benefits. In many historic places, there are actually tax credits and incentives for people who buy and preserve historic homes. Research whether this is true in your area.
When it comes down to the appraisal of the house, things can be a lot more complex than a newly built home that has lots of comparable sales. An appraiser has to understand and value the unique features and historical significance of the home. This requires extremely specialized knowledge and experience. If you have any say in the matter, find an appraiser who specializes in historic homes. They’ll be better equipped to accurately value the property.
Financial aspects are a significant part of the decision to buy a historic home. The acquisition and renovation costs can be higher than those of a newer property, but the potential rewards – both tangible and intangible – can make the investment worthwhile for those who value the unique charm and character of a historic property.
At Green Residential, we work with Houston area homebuyers who are looking for their next dream home. With decades of experience in the local market, we understand the ins and outs of every neighborhood and property type – including historic neighborhoods and homes. We would love to help you find the perfect place for you and your family. Contact us today and we’ll put you in touch with your very own Houston home-buying expert!
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