The prospect of homeownership is exciting as you review different home styles, amenities, and features in consideration of what you will want to own in your personal residence. But when you are shopping to buy a historical home, there are some extra details you should be aware of before you find the right home to purchase. Here are some recommendations to help you as you search for and buy a historic home.
Hire a Professional Inspection
Historical homes are naturally going to be older, and in many cases can be several centuries old. And as a result, the home's structure, systems, and interior are all going to be aging and can have more issues related to their age when they have not been updated. A historical home may have had some renovations and improvements over the decades, but this does not guarantee the home will be in the best condition. So, as a good recommendation, it is important for you to consider hiring a professional inspection.
With any home purchase, you will want to hire an inspection to check the home's structure and systems even if it is a new construction home. A professional home inspector will be able to go through the home's interior and check items from the insulation, attic, and roof, and look at the plumbing and electrical to make sure they are up to code and working properly. Your home inspection investment is going to give you a compilation of details of your inspector's findings along with photos and descriptions of what has possibly led to the damage. This is helpful in helping you be aware of the home's condition so you can plan for repairs and updating, which can be reflected in the home's purchase price.
Plan for a Maintenance and Repair Budget
Once you have completed a home inspection, you will have a better idea as to the condition of the home and what repairs will need to be completed sooner and later. You will be able to plan for a budget once you take ownership of the home as you plan out what projects you will complete first. If the home has been updated and maintained by the previous owners, you may not have any apparent problems or issues that you need to tackle right away, but with the home's age, there may always be the potential for issues popping up unexpectedly.
Plan to have some money set aside or access to financing to pay for problems and maintenance that comes up. Even appliances are going to age and need repair and replacement, such as the water heater, stove, or furnace, as they have a limited life. Just be sure with any updating you do to your historical home that you check on any preservation ordinances that regulate how you can update or alter the property to keep its historical characteristics.