For many people living in or moving to Virginia, the best real estate purchase is one that combines the comfort of home with a piece of history. Buying a historic piece real estate in Virginia, D.C. or Maryland, is fairly common in today’s market, thanks to an incredible Virginia real estate climate and one of the most dynamic historic districts in the U.S.
However, if you’re simply looking at the intricate architecture and are thinking how great it would be to own a piece of the area history, you might want to take a step back and consider all the work involved in becoming a historic home owner.
The most important consideration for purchasing a historic home in Virginia is the quality of the house. Whether you’re looking at a bungalow or a mansion, you have to remember that time is rarely kind to real estate.
In addition to outdated materials (like plaster instead of drywall or lead pipes) and difficult-to-work-with architectural styles, you have to consider the costs of restoring the house with authenticity in mind. Many materials are no longer available or can be costly if you want to maintain the historic integrity of your home. The same is true of the availability and cost of craftsman qualified to work with your particular home.
Many historic homes are overseen by governing bodies that regulate what you can and can’t do to your own home. If you’re in the market to purchase a historic home, make sure you know who you will have to go through to get the right permits for renovation, or if you’ll need to register and pay a fee to get your home listed as an authentic historic site. You might also want to note what kind of tourist interest you will get from having a historically-listed site.
Fortunately, not everything about owning a historic piece of Virginia real estate is hard work. Historic homes, when restored with authenticity, safety, and modern comfort in mind, are an incredible financial investment. Many people are willing to pay top dollar for homes that are in perfect shape or that have been renovated with a keen attention to detail.
Many local governments also offer tax credits and tax freezes for those who maintain a certain level of quality in their registered historic homes. This means that a historic home can be a great investment, as well as a beautiful piece of architecture, that is slated to save you money over the years.
When refurbished to contain all the modern amenities today’s families need and enjoy, a historic home can become a showpiece – both for your own visitors as well as those interested in the history of real estate in Virginia. As with all real estate purchases, however, this one should be made after much consideration and under the guidance of your trusted Virginia real estate agent.