What do you think about when a listing is described as historic, stately, charming, or even antebellum. Some would say these words signal that the properties are old, problem-prone and potential money pits, while others dream of one day owning such an older home in a recognized historic district. What makes a home historic? According to the National Register of Historic Places, a property needs to be at least 50 years old to be included in their registry, and there are currently more than 90,000 properties on the list, from office buildings to hospitals, and of course, many private homes. While it is true that older homes come with their own set of special considerations, they are still wonderful options for many home buyers, and they come with certain advantages.
Prestige and Honor
Owning a historic home is a badge of honor for many, and a home listed on the National Register is a particular, upscale amenity that is very attractive to certain groups of homebuyers. This means that when you purchase a historic home, you can count on a positive resale experience, as long as you keep the home properly maintained. Owning a historic home makes you a steward of our nation’s history, and gives you the unique opportunity to interpret and share stories of your home’s past. You may be asked to participate in local home tours and history festivals, and you may also field requests for your home to be photographed and included in visitors’ guides.
Return on Investment
As mentioned above, as long as you have maintained your historic home, you should see the value of your home increase over time. A recent study of historic home sales found that properties in the historic district of Rome, GA, sold for 10% more than similarly appointed homes that did not have a historical designation. Another selling point for potential buyers later on is the stability of the neighborhood. There is very little turnover seen in neighborhoods with a historic district designation.
Financial Assistance
Did you know that historic houses listed on the National Register may be eligible for limited financial aid through grants, loans, or tax incentives? For example, the state of Georgia has provided an eight-year freeze on property-tax assessments on designated historic properties. After all, t’s in the best interest of everyone for historic homes to be well-maintained and preserved.
Beauty and Nostalgia
Anyone who would seriously consider owning a historic home has probably already fallen in love with the property’s aesthetic features. They are often more unique and distinctive than contemporary homes, and are examples of architecture that is now seldom seen. Whether it’s the ornate fireplace, gabled roof or stained glass windows, the features of historic homes remind us of simpler, idealized time periods.