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Step 1
Learn about the opportunities available for historic home buyers. There are some tax benefits available for those who qualify on restoration projects.
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Step 2
Determine the extent of restorations that might be necessary to live in the home or just keep it up to date. The amount of restorations necessary and the costs of the restorations should be taken into consideration before buying the home.
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Step 3
Learn what to look for in a historic home. A historic home has significance as far as its architecture and location. Each state, town or city has rules that pertain to the ownership and sales of historic properties.
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Step 4
Research the home that you are interested in buying. Information on historic properties is available on historic preservation state websites, and you can also visit the local Register of Deeds office. The websites may also have links to other helpful historic home buying information.
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Step 5
Make an offer on the home that you would like to buy. Knowing what needs to be done to the house before buying it should be a consideration in the amount of the purchase offer.
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Step 6
Have the home inspected. There are inspectors that specialize in historic homes. The inspection will tell you what kind of and the amount of work that needs to be done on the home. It will also tell you if the home is worth purchasing and the amount of effort it will take to complete any restorations.
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Step 7
Learn about historic homeowner's insurance and decide if it is something that you need. Standard insurance policies don't always cover the features of historic homes.
Comments
Ladybugblue said
on 1/16/2009 Great article! Thanks for the needed information!