Video: Is a Historic Home Right for You?

It’s a given, that home ownership of any kind comes with a steady diet of upkeep and repairs. Even a newly built home is going to require some level of routine maintenance. However, if your dream home happens to fall into the ‘historic home’ category, or a location within in a historic district, be advised that these properties are going to present their own set of issues.

Nearly every town and city has some designation for historic properties, and each district can have a unique set of requirements. Most municipalities have strict policies regarding property located within the bounds of a historic district, preservation and compliance will be nonnegotiable. For instance, in Phoenix, AZ, all exterior modifications to a designated ‘historic’ building must be reviewed and approved by the Historic Preservation Officer. Some approvals may even require a public hearing. Approval can take time and in the case of demolition, up to a year. Interior remodeling is less controlled with the stipulation that your rehab inside does not alter outward appearance. As a side note, any unsanctioned alterations to historic properties, especially those visible to the rest of the neighborhood, are capable of affecting your property value.

There may be features of the home that you would like to change or even eliminate. To be best informed, many regions offer educational workshops, technical and design support, and under some circumstances financial assistance, with additional incentives available for homes on the National Register.

If you determine that a historic home is in your future, it’s important to check relevant policies BEFORE you purchase, to determine if local regulations are going to be a deal-breaker for you.

Video: Challenges of Owning a Historic Home

For your convenience we’ve provided a transcript directly below this video

Video Transcript: Challenges of Owning a Historic Home

Owning a historic home provides old-world charm, but it can also pose challenges.

Historic homes often need more maintenance, and outdated technology such as heating units, could mean higher bills.

If decorative features need repair or replacement, the materials may be costly or no longer available.

Painting the exterior and other renovations could require approval from officials.

If the home is on the National Register of Historic Places, the insurance premium will likely be higher.

Nonetheless, these extra costs and potential hassles may be a small price to pay for owning a piece of history.

Editors Note: An historic home, as is the case for any older home, is more likely to contain environmental hazards such as lead paint and asbestos. These are highly toxic substances best mitigated by a professional.

photo credit: Marine 69-71 at en.wikipedia

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Bill Salvatore / Arizona Elite Properties
Your Valley Property Team
Residential Sales, Marketing, and Property Management

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