Historic homes have a certain charm that causes many home buyers to fall in love with them. However, these homes come with certain challenges not present with regular homes that not everyone is prepared or willing to face. Here are a couple of things you should be aware of about historic homes to help you decide if this type of house is right for you.
Renovations are Often Restricted
When you purchase a home, most likely you'll want to make renovations so that it fits your needs and preferences. With a historic home, however, the goal is to preserve the house as it is and/or ensures it continues to fit in with the other buildings on the block if the house is located in a historic district.
This means you will be restricted in the type of changes you can make and, oftentimes, you'll have to get approval from the city or homeowner's association for anything you want to do. For instance, the HOA bylaws may restrict the exterior paint colors you use on the home or require you to use a certain type of paint that won't damage the home's integrity. Not only does this mean you may not be able to incorporate modern conveniences, but it may cost more to maintain the home because you'll be limited to certain materials or contractors.
Thus, it's important to review any bylaws to determine if you can live with them. You should also set aside additional money into your home maintenance fund to ensure you can afford to make any necessary repairs.
Easements Must Be Maintained
Another issue you'll have to contend with is historic homes often come with easements attached. Easements allow people to use your property in certain ways without your permissions. For instance, a walkway that sits between your home and your neighbor's may be on your land, but an easement allows the general public to traverse it whenever they need to.
There are a few different types of easements, but a common one you'll see attached to a historic home is a preservation easement. The goal of preservation easements is to prevent damage to land and any structures on it, so often times they will restrict the type of activities historic homeowners can do on their properties. For instance, you may be barred from cutting down trees or be required to allow the public to access certain parts of the grounds.
When shopping for historic homes for sale, be certain to ask the real estate agent about any easements attached to the property so you know what you're getting into.
For more information about purchasing a historic home, contact a real estate agent.
Hi, my name is Jessica Williams. Thanks for stopping by my website. I have moved a number of times and in three cases I have had to sell a house. The first time I sold a house I listed it with a real estate agent. The second time I did it myself. The third time I listed with a realtor. You can probably ascertain from this information that I found listing with an agent the better route. I managed to sell my house by owner that one time, but never again. There is too much involved and too great a risk for errors. There’s a bunch of paperwork and preparation that goes into selling a house, more then I imagined. My goal here is to share my experiences with you. My hope is to make your experience as pleasant as possible.