Buying a historic property in an area like Back Bay or Beacon Hill can be an ideal way to get a charming Boston luxury condo in a great neighborhood. However, there are some unique challenges that come with buying and owning a property in a historic building in Beacon Hill.. Here are a few things to keep in mind if you’re a potential homebuyer looking at condos in Beacon Hill or another Boston historic district.
1. You May Be Subject to Extra Regulations
Check both the city and state laws for your area to see what sort of regulations are imposed on those with historic homes. These regulations ensure the integrity and historicity of the building is maintained. Depending on where you live, you may not be able to make all the renovations and changes you desire to your home.
2. An Experienced Inspector Is a Must
There are some structural issues that can occur in older homes, so you need to be on the lookout. The average home inspector may not know what to look for. Make sure to hire someone with a background in Beacon Hill historical home inspection.
3. You Might Have an Easement
Some Beacon Hill homes and other properties in historic districts may have an easement in place that regulates what the future owner can do with the property. Check if there is an easement, and make sure it will not oppose any of your plans before you settle on a historic property.
4. Repairs May Cost More
Keep in mind many contractors charge extra for repairs in a historic districts like Beacon Hill because older homes are trickier to work with. Budget wisely to make sure you can afford any surprising costs.
5. There Will Likely Be a Lot of Foot Traffic
Historic districts are generally in the middle of downtown areas, and they attract a lot of attention and crowds. They are often bustling neighborhoods filled with great restaurants, bars, and shops. However, homeowners who like their privacy should be warned that they may end up with tourists snapping pictures of their historical home.
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