Nothing says living history quite like the experience of purchasing an old Victorian mansion or a farmhouse dating back to the 1800s. The walls and floor almost tell the stories of an age gone by, but your wallet might be telling a different story as you fall deep into the process of a historic renovation. There is a lot to consider as you work to bring an older home to its glory days without losing the authenticity and value as a historic landmark.
Historic Districts Might Cramp Your Style
If your new purchase is within the boundaries of an established historical district, any work to the exterior might be restricted by the local association. To keep things uniform and true to time-period trends, your paint colors, roof textures and window type might be restricted. Don’t take it personally. These rules are across the board to preserve the value of the district as a whole.
Preserving History Might Be Costly
Moving forward with a historic renovation can end up being costly, as you work to restore structural components in accordance with the original design. It may also take a small fortune to refurbish the home with accessories that are true to the time period of the home. Fortunately, some states offer historic preservation grants and funding options to help alleviate the burden.
Quality and Comprehensive Insurance Is a Must
From a historical perspective, you can’t really put a price tag on the value of your home. However, for insurance purposes, someone is going to try. It can be difficult to find quality insurance coverage because of the unique situation a historical renovation might put you in. Check with several agents or ask the local historical society for referrals on providers who understand the nature of your purchase.
Living in a historic home is a unique experience that can only truly be appreciated by those with an interest in the past. As you consider your purchase and the necessary repairs, work with a contractor who specializes in preserving the value and authenticity of your home.