Buying a Historic Home: Is it Worth It?

I think it's something close to the American dream. I think somewhere in us all is the desire to get that home and make it ours. Our dream home. For some it's a new and modern home. For others it's that old dinosaur that's sat alone for years. The older the home the more historical value it has. Historical homes are old, large, and just so beautiful. Is it worth it though?

Is it worth it to buy a very old home? The historical aspect certainly does add to the appeal. However, if the home itself is not in a restorable condition then the answer is no, it is not worth it. You can not buy a home based on historical value. If the home is too far into a state of disrepair there is no value.

A home is a home. A historical home is very old. There are many things to check into before deciding to purchase a historical home. Firstly, the beams. One to two hundred year old homes or older are already very well used. They are old. How long do you think one can last? Not forever. If an old house sits alone for too long it can reach the point to where there is no point in restoring it. You always have to ask yourself in any type of business deal if it is worth it.

The main things to look at are the beams, the roof, and how solid the floors are. The wiring is also something that needs to be checked out before considering the home purchase. In many cases all of the above will need to be replaced or renovated. If you are lucky you can find an old home that someone has already began to restore. If that is the case then likely the old aluminum electric wiring has already been replaced with new copper and a breaker box. Beware of fuse boxes. The beams of a home must be strong. If they are infested with termites, rotten, or cracked then it is likely not in your best interest to make the purchase. Weak floors are a sign of trouble as is a house that has an obvious shift to it. You'll want your home to be square and upright, not tipsy. A roof with problems means water damage inside walls and on ceilings. Who knows for how long it has leaked and ran on the wires and soaked all the wood in it's path. Excessive water damage is bad. The wood is likely rotten and in that case it is not worth it.

It is worth it though to buy an older home in a sorry state of disrepair if the disrepair is repairable. One or two weak beams can be repaired. Minor water damage can fixed. Roofs can be shingled or have new steel put on them. Floor boards can be replaced so long as the beams are good beneath them. If the house is solid it has value but if it is not then no matter how great the history is it does not. The more solid the house the more likely you are to be able to bring it to the state of a functional home. You will also be more able to restore it back to it's original. That just is not possible when a home is so damaged that everything needs to be replaced.

It's not the look of the home that determines it's value. It's not the history either, although it helps. What determines if any home purchase is worth it or not is the condition of the house. In any old home that is old enough to be considered historic there is going to be work that needs to be done. So long as the house is solid and steady the purchase is definitely worth it. Thanks for reading and take care!