A Beautiful Historic Home – Is It for You?

A large custom built luxury house in a residential neighborhood. This high end home is a very nicely landscaped property.

They don’t make houses the way they used to. We’ve heard this more than a few times before and we agree. From carved moldings that are exquisitely intricate to stone fireplaces that are hand-carved to perfection, historic homes do offer a distinct charm that simply isn’t that common in modern homes.
There are historic homes that even in a not-so-great state can still prove to be worthy investments – that is if you’re up to the challenge of handling the required time, effort, and money to repair and restore them. Note that fixes and renovations for older homes are often more costly. Also, you might be in for some surprises as generations and generations of homeowners have already made repairs and additions (and in varying levels of expertise).
Most of the time, owners of historic homes are required to follow some home rehabilitation guidelines implemented by the government or a special committee. Most of these guidelines allow you to fix but not to replace or rebuild.
To make sure you’ll make the right decision, we have here for you some information and expert advice that you should consider before you buy a historic home.
What constitutes a historic or heritage home?
Basically, a historic home will be listed in the Canadian Register of Historic Places either on a municipal, provincial, or federal level. It can be deemed historic because of its architectural significance or representation of a specific time period. It may also be associated with prominent people from the past. Those that belong in historic districts may also be considered historic properties.
Why buy a historic home?
Needless to say, it is the unique aesthetic of historic homes that often catches the eye and captivates the hearts of home buyers. Like we said, very few can compare to the charm of a property that is from an entirely different era that you wouldn’t find easily in any other corner or street. In some cases, homebuyers receive tax credits or lower interest loans as they are preserving and/or restoring historic properties.
If you are really set on purchasing a historic home, make sure you do consider these before you sign a contract:
* Have a proper home inspection performed by a qualified professional who specializes in older or historic properties.
* Contact a reliable contractor and get estimates for all the repair work needed.
* Ensure that the property meets all the health and safety standards, especially the tests regarding lead paint and asbestos.
* If the inspector tells you there are major structural problems, look elsewhere. The aesthetics may not be worth all the trouble and costly repairs in the future.
If after careful consideration, the pros outweigh the cons, then perhaps a historic home is for you.
Whether it’s a historic home you’re looking for or just a property with a distinct character, Tammy Samuels can help you find the one that’s perfect for you. Call today!