There are many advantages to buying an historic home. The architechture, design and construction of historic homes can certainly complement a modern lifestyle. In many neighborhoods in central Tucson, your historic home may qualify for a tax-reduction if you maintain the property according to the Arizona State Historic Preservation Office 's standards. There are many features of historic homes, like certain hardwood floors, that are nearly impossible to find and definitely out of the price range of an average buyer. Neighborhoods of historic homes are generally closer to amenities and more established, often creating a strong sense of community.
There are also disadvantages. Many historic homes are much smaller than today's standards, and the concept of a greatroom is virtually unknown. Some were built without closets, cooling, and many other amenities, like dishwashers. Heating, cooling, plumbing and electrical systems may not meet safety standards or be adequate for modern demands.
However, being an educated buyer will help you avoid buyer's remorse
When shopping for a house:
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Be realistic about your needs and abilities. Can you live in 1000 square feet? Or do you need space to sprawl out? Are you handy enough to do the little "fix-its" that inevitably come up in historic homes (or you are willing to learn)? If you don't know the difference between a phillips and a flathead, you may be biting off more than you can chew.
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The older a house is, the more out-of-date the building technology is likely be. It is not uncommon to find wiring, plumbing, and sometimes even heating systems that are as old as the house. However, just because a system is old, does not necessarily mean it is "bad." Hire a home inspector familiar with historic homes. If the inspector identifies problems with the systems of your home, call a licensed contractor who specializes in that system to evaluate it for safety. They may recommend a necessary repair, or they may recommend replacing the system. If you find the latter, don't despair. Many historic homes are easier to update than modern ones, because they have access through attics, basements and crawlspaces. If a repair is all that's needed, great! But bear in mind that saving for future replacement may be wise, and for items like knob-and-tube wiring , safety may be an issue, so have your system evaluated at least annually. A home warranty plan can also be a great budget-saving tool, as many of them cover repair or replacement if major systems in the home suddenly fail.
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Be realistic about your price range. Surprising to some, historic homes are generally more expensive than their newer counterparts. There are several reason for this, the most important is supply and demand. You can build as many new houses as you want, but your can't build them "old." Often they are located in more desirable parts of town, closer to downtown, shopping, education and transportation. On top of that, many people find the features of an historic home highly desirable, and will often pay a premium for these homes.
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An often-overlooked aspect of purchasing an historic home is insurance costs. If the major systems of the home (generally heating, cooling, plumbing, electrical and the roof) have not been replaced, your insurance may be difficult to obtain and more expensive. Shop around to make sure you have adequate coverage at a fair rate.
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Start searching for your piece of history now! |
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