The Northeast is full of history and historic properties. A rich history and charming period details can make a Montclair NJ real estate property worth more than the sum of its features and location. Restoring a historic home is a dream for many history buffs and architecture aficionados. Fully restored homes offer a buyer a more stable value and a good story to boot. Here are a few things to think about before buying a historic home.
Check with the Register
A truly historic home must have more than just age on its side. It should have some significance in the story of our community, state or country. Check with the National Register of Historic Places to verify that a Glen Ridge NJ real estate property is genuinely deserving of the title historic or if it is merely old. The Registry lists a great deal of information on its website, http://www.nationalregisterofhistoricplaces.com/, including a list of places that are vacant or not currently in use.
Know the Limitations
In many historic districts, there are strict limitations on what can and cannot be done to a home. You may have to gain permission before painting the exterior or installing a new outdoor light fixture. Maintaining the integrity of a historic West Orange NJ real estate may have to take precedence over your personal preferences.
Old homes, no matter how historically significant, can often be money pits. Buyers often fall in love with the charm and lure of owning a bit of history without thoroughly researching the property. Even if you are dead set on owning a historical piece of South Orange NJ real estate, be practical in our search. You may want to employ the assistance of a good contractor to help you inspect the foundation, wiring, plumbing, roof and overall structure of the home you intend to purchase, particularly if you intend to restore it. Be aware of the costs involved before you make an offer.
If you are looking at an older property, use a little judiciously-applied suspicion when it comes to the renovations. Again, you will want an expert to help you seek out the details that tell a good reno from a poor one. For instance, you should make sure all the illegal wiring has been removed, not just cut off a few inches from the outlet and spliced to appear proper. Verify that all work was performed by licensed contractors. Check with the local government authorities to be certain the proper permits were in place and all work passed inspection.
Owning a historic home can make you an important link in a long chain of its caretakers. Just be sure that you are still buying wisely and not getting in over your head.
ReMax Village Square
9 Sloan Street
South Orange, NJ 07079