How to Buy a Historic
Home
The Who's, the What's, the
Where's, the How's & the Why's of Buying a
Phoenix Historic Home
Read About Laura B.
Also
read: "What You Can Expect From Laura B."
4 Critical Factors In
Choosing A Phoenix Historic Homes Realtor
Top
10 things to know and to do when buying a home
More
articles below ...
One of the hottest trends in real
estate has become the restoration of
historic homes.
The Phoenix Historic
Districts, with its rich history, has
a wonderfully textured architectural past.
Phoenix is host to historic homes that demonstrate
the great and ever-changing architectural trends of
the past. If you are in the market to buy a historic
home,
here are 7 important things to know and to consider:
1. What is a Historic Home?
A historic home has some significant historic
relevance as reflected in its architecture. The
National Registry of Historic Homes has an extensive
list of homes that are “historic,” but each state,
town, or city has designated their own historic
districts and landmarks. Phoenix, AZ has 36 historic
districts alone, and more coming!
2. Why Buy? Historic
homes appeal to people for a variety of reasons.
Many homeowners like the idea of a historic home
because it had significant relevance in the past,
while others may just like “the look” of
architecture from years past. A large contingency of
buyers, while certainly admiring the property’s
aesthetic qualities, will buy a historic home
because of the benefits that come with restoring it.
There may also be tax benefits for those who qualify
based on their individual restoration project
3. Where to Buy? There
are historic homes in just about every city in
Phoenix. This website provides you with links to
Historic Phoenix homes, Historic Glendale homes, and
Historic Tempe homes. Click on the city of your
choice for more information on each historic
district and to search homes in that particular
district. A few of the more popular Phoenix historic
home districts are Willo, Roosevelt, Coronado and
Encanto-Palmcroft.
4. Do research on the home.
Once you are comfortable with any laws and
regulations regarding purchasing a historic home,
you should decide on a house. Do research on
your home. I will help you. See my “resources” link
to many historic homes resources available.
5. Making an Offer. The
offer should be contingent on your ability to obtain
financing, and most importantly, contingent on a
satisfactory inspection. These homes are very old,
so the inspection is an important element of the
buying process. You may find that your offer price
goes down significantly after discovering defects in
the building.
6. Inspection. Get a
great inspector. There are inspectors who
specialize in historic homes These people might be
more costly than a regular inspector, but they are
trained to evaluate properties such as the one you
are interested in. I will help you find the right
inspector who will look at important items such as:
a. The Roof. The roof is a
huge inspection item. A failing roof will cause
leaks and will incur much money for repairs in the
future. Find out what the condition the roof
is in and factor its possible decay/problems into
your decision.
b. The Heating/Cooling
System. The heating & cooling system in
the building will likely be old if the previous
owner has not installed a new one. Just because a
system is old, however, does not mean it is bad.
Have your inspector evaluate the method of heating &
cooling, and suggest ways to maintain/improve on it.
c. The Structure. Have
an inspector, or better yet, an engineer, evaluate
the structure of the building. If there is a big
problem with the foundation or the building itself,
you will want to know. Structural problems can cost
a significant amount of money to repair.
d. The Electrical. Have
a licensed electrician evaluate all the electrical
inside and outside the home. Is the wiring is up to
code? Is the panel original or has it been upgraded?
Are the outlets grounded with GFI plugs?
Such concerns don't necessarily mean
you must give up your dream of buying a piece of the
past. From your Real Estate Agent to your Home
Inspector, you do need to bring in the knowledge of
professionals into your purchase in order to detect
any possible hazards or costly repairs that may be
looming that are often common in older homes.
7. Finalize Offer/Purchase and
Sales. Take the information you received
from your inspector and decide if you need to adjust
your offer based on costs of repairs from items
missed at your initial introduction to the property.
Once you agree on the price and specifications of
the deal, have your Real Estate Agent draft the
Purchase and Sales Agreement.
As your Real Estate Agent, I
guarantee that I will not leave ONE stone
unturned and will be guiding & helping you through
the entire process. My team and I are dedicated to a
smooth, timely transaction helping you close escrow
on the home of your dreams!
Contact me now
so I can SHOW you what I mean!
Also read:
What You Can Expect From Laura B.
4 Critical Factors In
Choosing A Phoenix Historic Homes Realtor
Adjustable-Rate
Mortgages (ARMS)
10 Reasons Why You Should
Move to Phoenix, Arizona
For More
Articles, News & Stories, Go to My Historic Phoenix Blog
Search for Phoenix
Historical District Homes For Sale
