Things to consider when thinking of buying or selling a Historic Home
What to know before you buy
You never know what you’ll find behind the walls of a Historic home. Could be a hidden treasure! But you will more likely find: termites and jimmy- rigged plumbing. Even with a thorough home inspection be prepared emotionally and financially that you may uncover something you weren’t expecting.
Historic homes are more Valuable
There certainly is something about restoring a Historic Home that you can’t measure in dollars cents, taking on some renovations can create a lot of equity. Buyers today love Vintage homes, but what they love most is a turn-key home, and they are willing to pay for it.
Restoring vs Remodeling
The 70s and 80s were not kind to our Historic homes. Many owners during these years gutted the beautiful vintage tile for linoleum and covered hand textured plaster for spray on stucco. Let’s learn from our past and insure that any remodeling is period correct and in good taste.
Energy efficiency wasn’t a thing a 100 years ago
Sash windows and wavy glass are part of the charm of a vintage home but beware of the hidden utility cost. And replacing the windows could destroy the character and may not be allowed in a Historic district. Check out GreenRiverside.com for weatherization tips and available city rebates.
Being the steward and protector of a historic home has more benefits than just the sense of accomplishment and pride. There are many tax incentives that could save you thousands of dollars. The Mills Act can save you on average 50% each year on your taxes. Check out the city website to see how to qualify. https://riversideca.gov/historic/mills
What to know before you sell
You never get a 2nd Chance to Make a First Impression.
Making your home as attractive as possible is key, and Vintage Home shoppers are looking for charm and nostalgia. Make sure your paint colors are period correct, and every space is de cluttered, so buyers can see your homes character.
Never Judge a book by its cover- Or a Home
After you’ve made a great first impression, buyers will start looking at, the electrical panel, plumbing upgrades, termite evidence, and roof age. This is the trap most Vintage Home sellers fall into, when they get contractually tied up with a buyer who expects the upgrade
It’s not Personal It’s Business
More than any other Home Seller, Historical Home owners are the most emotionally attached to their property. And for good reason, you’ve probably spent years restoring, upgrading and raising a family in your one-of-a-kind home. But your home is also most likely your biggest financial asset, being overly attached and negotiating from an emotional state can hurt your bottom line in the long run. Focus on the big picture and the goals that selling your home will lead to. Make sure your ready for the change and embrace it, let your Realtor handle the stress and enjoy the next chapter of your life.
Want more tips on buying and selling a Vintage home?
Contact Crystal at
Crystal and Fred are Vintage Home Realtors at Windermere Tower Properties. They have bought, sold and Restored their own Vintage homes and love helping their clients do the same.
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