Points to remember before buying a heritage home

By: akanksha

A heritage or a historic house is such a property which carries a long history with it. A house only a few years old cannot be considered as a heritage house, but a house which has already celebrated its 50th or 60th anniversary can be considered as a historical establishment. There are a very few houses which come under this category, which also provide adequate living conditions.

These houses may be palaces, farm-houses, Victorian houses or any sort of castle, which reflects the aristocracy and glamorous lifestyle of the people. The properties might be too much expensive, but the historic aroma that they carry is much more than its price. However, the buyer should remember some points before buying a heritage real estate:

• History of the heritage house: The very first job of the buyer is to know the exact the history of the heritage house. The history includes the age of the property, as well as information about the creator of the property. If the exact date is not possible to know, then at least know the time of its establishment.

• Government’s recognition: It is essential to know whether any Government or National association that deals in Historic Places has granted permission for the sale of the heritage property. Taxation rules and amount is essential to know. If there are local or area regulations or laws applicable on the historical real estate, then the buyer should be aware of those.

• Price of Heritage house: Price of the historic house is always a matter of concern for the buyers. The charming and aristocratic appearance of the property always increases its value. Buyer should consult a reputed real estate agent or the owner of such property and then decide what can be the appropriate estimated price. If required, then negotiation should be done to fix the actual price.

• Check pest damage: Old properties mostly experience pest attack. It is the buyer’s responsibility to verify whether the property is under attack by termite or any other pests.
• Roof inspection: Roof of the property reflects the condition of the property. Even though all the other areas are in good condition, it is necessary to check the roof. Most of the time roof of an old property suffers from leakages, cracks, damps and pest attack. It should be taken care at the earliest to protect the property. If necessary, then replacement or repair work must be done.
• Mechanical fittings: The electrical fittings like light, fan and other systems, such as plumbing and heating facility, should be checked before buying the property. If there is any sort of dissatisfaction regarding the electrical or mechanical fittings, then get it repaired.
• Insulation: Insulation of the property should be verified. If it is not satisfactory, then try to search for other properties. Without insulation, it is advisable not to buy any property.
• Damaged condition: Buyer can appoint professionals to verify the structural defects or any damages in the historical property. If it needs repair work, then the buyer should know the cost of such renovation work.
• Present of toxic elements: Does the property contain anti eco-friendly materials, like lead or asbestos? If yes, then take firm steps to control it.

These are a few factors that can have a huge impact on your property buying decision. If you think that you are not much aware of such factors, then you can hire a knowledgeable professional home inspector to evaluate the entire historic property.

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