The charm of living in a historical neighborhood appeals to many. The houses are unique with interesting architecture, not like the cookie cutter homes in most new subdivisions. Most homes are also located in desirable mature areas with tree-lined streets and wide sidewalks.
The design opportunities for these homes are endless, and a buyer is often so focused on their vision of what this house will be, they neglect to see what they are really buying. There are considerations with historical homes that don't exist with a conventional modern houses. Many of these are located in protected neighborhoods that have a historical designation in order to preserve the character of the area.
These designations have rules that may prevent a homeowner from making the changes they'd like. Most of these are restricted to structural changes, but they can affect other areas of the houses as well. For instance, you may have to sacrifice adding a luxury bathroom to the master bedroom if one doesn't already exist. Upon purchase of the home, the seller should disclose whether it's located in a historic district, you should double check at the local municipal offices and research any restrictions for the property.
The parking in these older neighborhoods is usually sparse and more often than not, residents can't even park in front of their own homes.
Roof replacement can be a costly consideration. In many areas, asphalt shingles aren't acceptable and must be replaced with wood shingles, standing-seam metal or slate.
Window replacement and window coverings can also be limited as they have a direct effect on the look of the home. Another added expense is the energy costs, often times these larger old homes are drafty and difficult to heat. If a particular renovation is denied by the historical board, the homeowner can usually appeal a decision, but it takes time and paperwork.
One ray of sunlight exists in the grants that are often available to homeowners to help ease the financial burden of the renovations, but keep in mind that the upgrades must fall within the guidelines.
