“If you have an unconditional love for old building, then live in one. Historic homes, unlike normal houses, they will make you feel like living a unique life and gives you a royal experience. It has the beauty which cannot be matched at any cost by modern properties.” Says DC Fawcett Real Estate.
Inspect the historic houses before you buy!
Hire a real estate professional inspector to analyze the historic houses extensively. Not all old houses are historic and you have to thoroughly research on the community and state. Get to know the procedures, real estate trends and inspection methods first. Once you find the property, make sure that it has a sense of history.
Historic homes will have a unique architecture, look whether its features satisfies you. If you are looking for a home which has to be ready to accommodate, then make it clear to your agent. DC Fawcett complaints on some buyers purchasing the house with repairs and gets annoyed with the rehab process. Unlike normal homes, historic ones needs costly repairs and extensive renovation works, so plan accordingly.
Hire an experienced real estate agent!
A real estate agent who has years of experience in buying and selling historic properties is what you exactly need. It is highly impossible to find a right home if you are not searching with the help of a realtor. Do not hire one who deals with modern properties, search for a person who specializes in dealing with historic homes significantly.
You can easily find one by searching in the areas which has many historic homes. Once you find such place, enquire about the realtor or a listing agent of that area and contact him for further information. You can also consult with other house owners in that area and they will recommend you the right person.
State historic preservation office (SHPO)
SHPO can give you the right details about the historic properties. The multiple listing websites has only the basic information and details. For example they might have not used the exact terms to explain the architecture of the home. Hence it is safe to contact the SHPO, get the address of the homes and you can compare the features of the house in MLS websites.
Bottom line
If the historic home is in good condition and needs only fewer repairs, then it can act be a great investment option for you. But you have to spend your time, money and work hard to renovate them before selling it to someone. The repairs and renovations might get extensive if the house is too old whereas the new ones are easy to renovate.
DC Fawcett reviews states that historic homes last forever since they are structurally good when compared to modern homes. The historic home build in 1960s can be worse than those built in 1700s. Why? This may be due to the repeated usage of the home without proper maintenance. Never ever buy historic homes if you already have 2 or 3 mortgages and do not have proper income. The repair and replacement cost of historic homes are very high which you can afford if you are not financially stable.
Conclusion
These are some general real estate terms as reviewed by DC Fawcett which will be very useful for real estate investors.You need to keep in mind that recession gas not taken place due to the event which no one has expected.