Tips For Buying A Historic Home

Tips For Buying A Historic Home

Historic homes are beautiful pieces of history that are filled with gorgeous craftsmanship. However, because historic homes have had many lives since they were built, there are some special considerations that buyers need to keep in mind when they are buying a historic home. These tips from a real estate lawyer CT can help buyers interested in buying a historic home make sure they find a historic home that is in good shape and don't end up buying a money pit:

Look Past The Cosmetics

Everyone loves the bright colors of a Victorian Painted Lady or the stunning woodwork in a real Craftsman home, but those details are not indicative of the health of the house. In order to make sure that you're getting a home that is in good condition a real estate lawyer CT recommends that you get a thorough inspection of the home that includes the foundation, the wiring, and the plumbing. Often the wiring and plumbing in historic houses are original to the house and needs to be redone and upgraded in order to handle the demands of modern living.

Plan On Spending Money To Modernize It

Buying a historic home comes with some challenges, including the need to modernize the home for comfort but keep the historic elements that make it so charming. According to a real estate lawyer CT you will need to set aside some money to take on projects around the house. You will also probably need to spend more than you think maintaining that home so you should keep a contingency fund on hand that can be used to fix any problems that come up.

Find Out If There Are Restrictions On The Home

In many areas, there are restrictions on what homeowners can do to historic homes. Ask a real estate lawyer CT if there is a homeowner's association or a town board in the area where you are looking for a home to find out if there is an association that you will need to consult before making changes to your home. In some places, you cannot change any of the exterior details of the home, including the color of the door or the colors of the home, in order to preserve the historic integrity of the home. If you are going to buy a historic home, you should know in advance that restrictions there are on the home.

Be Prepared To Make Trade-Offs

If you don't have an unlimited budget to purchase a modernized historic home, be prepared to make some trade-offs to live in a historic home. Any real estate lawyer CT will warn you that you may have to put up with chilly rooms, no air conditioning, or other discomforts that come along with living in a historic home. Some people don't mind making those trade-offs and love the idea of using a roaring fire for heat or spending warm summer days on the wrap around porch with some fresh lemonade, but other people aren't willing to put up with those discomforts. If you're going to buy a historic home, be sure you know what that means for your lifestyle before you put in an offer.

Law Office of Chris Albanese
June 12, 2019