Doing Your Homework Before Purchasing a Home at Historic Properties

Owning a home is a dream that comes true for many of us. It becomes even better when you have managed to get your dream home at a historic location. There might be a slight difference when it comes to completing the legal formalities for such properties.

Understanding the Meaning of Historic Districts

There is a thin line of difference between historic landmarks and city landmarks. You can easily get confused with the same. Historic buildings would be half a century old and will have a significant history or story to them. In the case of individual or city landmarks, buildings need to be 30 years old.

If you are looking for genuine historic estates in Hampton, then you can check out Linden Estate located in Southampton, NY. This is a beautiful 10-acre property surrounded by lush greenery. The house itself consists of 3 floors spread across 18000 sq. This property also comes with separate staff quarters.

You can even take a virtual video tour and inspect every single aspect of the property. The entire estate was designed in 1915 by Mr. Atterbury, an architect by profession. The entire property comes with both an indoor and outdoor pool along with a slide and waterfall.

If you plan to renovate a historic building, then you might need to abide by certain rules and regulations set by your State. If you live in a historic district and want to landmark the same, then you can avail a lot of benefits especially when it comes to selling properties:

  • Your property value will automatically go high as it is located in a historic location
  • Landmarking can also enhance the reputation of your entire neighborhood
  • Many federal and state agencies also offer economic incentive programs
  • Zoning regulations will be waived off so that you can preserve your building
  • In case of renovating, you can ask for financial assistance and also tax credit on the same
  • Registering your property as historic will also allow you to network with other property owners

Building or Renovating your Historic Property

You might have a picture in mind when it comes to your dream home. You might want to make it a reality by building the same in a historic neighborhood. Now the question that arises here is that with so many restrictions and guidelines imposed by the government, will you be able to construct a new home?

The answer is yes, provided you adhere to the regulations. Since you are building it in a historic location, you might need to pay heed to the materials used, the size of your home, and whether it is compatible with the neighborhood. The main intention here is to preserve the historic aura of the place and a modern house might not exactly fit the bill if you use modern materials.

If you live in a dilapidated home which is a historic property, then you might need to notify the concerned authorities before remodeling the same. You might need to wait for a year for the agency to take action on the same.

Conclusion

Do not jump the gun and make hasty decisions when it comes to buying or constructing a home in a historic location. Take time researching and setting your budget before you make the decision.