Historic homes, with their original hardwood floors, intricate millwork, and vintage fireplaces, exude a charm and character that newer ones simply can't replicate.
At Flat Branch Home Loans, we recognize that each old house has
a unique story, often decades in the making. If you're thinking about buying an
historic home, it's crucial to understand the beauty and responsibilities that
accompany it. Here's what every homeowner should know before making an older
property their own.
What Defines a Historic Home?
A property might qualify as historic if it is over 50 years old
and retains architectural integrity or cultural significance. Some older homes
are listed on the United States National Register of Historic Places or are
located within designated historic districts.
Not all older homes carry this official designation. However,
for those that do, renovations, financing considerations, and long-term
planning can be affected.
We can assist you in understanding
how a home's historic designation may influence your loan options.
Local Preservation Rules May Apply
Properties in historic districts may be subject to local
preservation ordinances that limit certain exterior—and occasionally
interior—changes.
This could affect:
- Window
or door replacements
- Exterior
paint color choices
- Additions
or structural changes requiring approval
These regulations aim to preserve the character of the
established neighborhood and may influence your renovation plans. Prior to
making an offer, consult your local municipality or preservation board to
understand permissible changes.
The Importance of Thorough Inspections
Historic homes often feature aging systems and materials
warranting careful evaluation. Common concerns include:
- Outdated
electrical systems
- Older
plumbing
- Insulation
gaps
- Foundation
settling and uneven floors
- Roofing
wear
- Presence
of lead paint or asbestos
- Water
damage
- Mold
- Structural
integrity and structural problems
Hiring an inspector with expertise in older homes can help
uncover potential issues and estimate future maintenance costs. Understanding
these factors upfront supports informed decision-making and helps avoid
surprises later.
Potential Financial Incentives
Historic homes may qualify for tax credits or incentives for
approved renovation work. These programs vary by state and locality and often
require adherence to specific renovation standards.
While these benefits can offset costs, understanding the
guidelines before starting major improvements is essential.
Budgeting for Ongoing Maintenance
Historic homes require thoughtful care. Replacement materials
may need to match original features, and repairs might cost more than in a
newer home. Establishing a dedicated maintenance budget can safeguard both your
investment and the character of the historic home over time.
The Reward: A Home with a Story
Owning a historic home means becoming a steward of its history.
You preserve craftsmanship, architectural style, and local history for future
generations.
With proper preparation—and the right lending team—you can
embrace the beauty and character of a historic home while feeling confident in
your investment.
Considering buying a historic home? Team Lasson is
here to guide you every step of the way to becoming a homeowner.
Team Lasson is here to assist with all of your home buying needs! If you’re considering taking the leap into home ownership in the near future, we’re here to help. Contact us today to explore which loan program aligns best with your financial goals.
The first step in preparing for your big purchase is to get
pre-approved for a mortgage at Lake of the Ozarks. Visit www.yourlakeloan.com or
call us at (573) 216-7258 to get started today!
Michael Lasson
Senior Mortgage Banker
NMLS #: 493712
Flat Branch Home Loans – Team Lasson
2882 Bagnell Dam Blvd
Lake Ozark, MO 65049
Cell: (573)
216-7258
Email: teamlasson@fbhl.com
Website: www.yourlakeloan.com
**The
postings on this site are my own and do not necessarily represent Flat Branch
Home Loans positions, strategies, or opinions.
Flat Branch Home Loans
NMLS 224149. A Division of Flat Branch Mortgage Inc.
For more licensing
information, visit NMLSConsumerAccess.org
