Why Homeowners Buy Older Homes

People buy older homes for a number of reasons. Many times, buyers choose an older home due to economics. An older home generally sells at a much lower price than a brand new home in a subdivision. Therefore, property taxes will likely be lower. Also, many older homes do not have the fees for schools, parks, or road and transportation improvements.

A buyer might choose an older home because of the neighborhood. Older neighborhoods generally feature larger lots, more and bigger trees, bushes, and flowers, well developed sidewalks, and walking areas. Additionally, schools are generally less crowded.

Other reasons buyers purchase older homes include an appreciation of history and a preference for traditional layouts, such as a formal living and dining room. Also, older historic homes usually possess architectural details that would cost a fortune to replicate in a brand new home. The home, still standing, offers living proof of its superior construction.

Homeowners who purchase an older home may be daunted by the many needed repairs and higher utility bills caused by inadequate insulation, leaky windows and drafty doors.

But, before replacing doors, windows, and old porches, homeowners need to remember that it is these architectural details that give a historic home its character. Owners of 1950s ranch houses may be surprised to learn that some of these homes, as well as entire districts of mid-century modern houses, are already listed by the National Historic Register. So a word to the wise--keep the aluminum windows and sliding glass doors as these are important features of the original design.

Why would a homeowner want to have their home listed on the National Historic Register? Even if uninterested in having a home recognized as a national historic treasure, there are other reasons why a homeowner might consider this. Preserving a historic home not only preserves a part of our history, it also keeps neighborhoods from losing their identity and helps remember those who went before us. Demolishing historic homes destroys cultural roots. When historic resources are preserved, a community maintains its unique identity. One of a kind architecture of generations past and artistic workmanship are preserved, and structures are recycled for other purposes.

Besides these noble reasons, Illinois home owners can also receive financial incentives, such as having property taxes frozen for eight years, and receiving grants and/or low interest loans to rehabilitate the property. To find more information on historic preservation, see your state's website.

In Central Illinois ci.peoria.il.us/resourcesmodule/download_resource/ id/777/src/@random475c4eb796f4a/ provides excellent information on this subject.

For help in repairing a historic home, homeowners should contact a local historic preservation organization. Members will be more than happy to offer advice on restoring a historic home to its original splendor. Check with the local Chamber of Commerce for assistance in locating a local historic preservation organization.