Buying a historic property in an area like the Beacon Hill or Back Bay can be an ideal way to get a charming home in a great neighborhood. However, there are some unique challenges that come with buying and owning a property in a historic building. Here are a few things to keep in mind if you’re a potential homebuyer looking at condos or townhouse in a 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 historical home inspection.
3. You Might Have an Easement
Some 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 district 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.
6. You Might End Up Using Extra Utilities
Many homes in historic districts are required to keep their original windows, roofs, and other exterior fixtures. These typically are not energy efficient, so your heating and cooling bills may be pricey. Plan for extra monthly costs when you live in a historic district.
7. There Are Often Great Tax Incentives
Though there are some added difficulties to owning a historic Boston condo, there are also some financial benefits that can make your purchase easier. You might be able to get lower interest loans or tax credits if you plan on preserving a historical property, so make sure to look into these ways of saving money before you finalize your purchase.
Boston condos for sale
Back Bay Boston condos
Beacon Hill Boston condos
Charlestown Boston condos
Navy Yard Charlestown Boston condos
Dorchester Boston condos
Fenway Boston condos
Jamaica Plain Boston condos
Leather District Boston condos
Midtown Boston condos
Seaport District Boston condos
South Boston new condos
South End new condos
Waterfront new condos
North End new condos
West End new condos
East Boston condos
Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs
In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.
For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.
Charles River Park
Surrounding Communities of Boston
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.
Ford Realty Inc
137 Charles Street
Boston, Ma 02114
- Boston condosHow to avoid Boston downtown real estate scams
- Boston condosBoston Downtown real estate: Cautious tale for Sellers using Redfin Now and other direct condo buying companies
- Boston condosBoston downtown real estate market: Expert predictions for second half of the year
- Boston condosHow to make your Boston Seaport condo your sanctuary – 5 Tips