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© 2017 by Frederick Gordon DBA Famous Fred All Rights Reserved BRE 01503278 Windermere Tower Properties

Things to consider when thinking of buying or selling a Historic Home

March 8, 2018

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.

 

Preservation Pays

 

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

 

951-801-0924 Crystal@TeamFamous.com 

 

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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