Historic homes provide a visible link to the history of a town and the nation, and also serve as a lesson on how people lived and the worked. Older and historical homes can be found in urban as well as in rural areas, but because of age and damage, some remain empty. Restoring these homes provides low-cost housing and is often a means for revitalizing urban areas. As such, they are often bargains, which a dedicated owner can then renovate and improve.
The U.S. Department of Housing and Urban Development sees a primary function for restoring older and/or historical homes as a mean of providing housing for single families and and means of restoring and revitalizing the neighborhood.
The National Trust for Historic Preservation offers grants that can defray the cost of renovation, and the U.S. Department of Housing and Urban Development offers several low-interest loans. Its 203K plan allows homeowners to borrow up to 110% of the appraised value of the home for renovation. The funds are released as the restoration work continues allowing work to start immediately; and the home is insured while the restoration work is carried out.
One misconception is that a house must be hundreds of years old to be considered “historical”. The National Registry of Historic Places requires that the home be at least 50 years old and look “nearly the same” as it did when built.
But the homeowner needs to consider the scale of restoration required. There may be local rules and regulations regarding materials, and/or limitations prohibiting the major changes in the design or structure. Historical homes are usually limited to preserving the original exterior and interior design and architecture.
Experienced renovators like Houseworks Unlimited can renovate a historical structure with modern utilities, thus making it both “historical” as well as “livable”.