A lot of people know the State of Virginia for different reasons, but did you know that it is one of the best places to buy historic homes? This is, however, not as surprising given that there are a lot of historic sites as well as landmarks in the state, all open to the public. Now, the state has a long and rich history, as many of these homes date back to the late 1700s, and they are open for home investors. In addition to owning a historic home, you will be able to learn quite a lot about the history of the home and the area in general. Now, with regards to the homes, we did find 27 of the finest Virginia historic homes for sale, all varying in terms of home styles, from Georgian mansions to even antebellum plantations, with some being fixed-upper homes and others turn-key historic homes. So, if you are looking for a historic home, the state of Virginia is the place to be, and in this article, we are going to tell you why in detail.
Before we get to tell why you should buy a historic home in Virginia, we would like to first give you a slight history of the state. Since colonialists first arrived back in 1607, Virginia was always at the centre of American history, as historic structures were being constructed all over. And even after the colonizers left, among the presidents that were later elected in the U.S, 6 of them resided in Virginia, where they did put up impressive homes. And the truth is, the majority of these structures are still standing even today, thereby offering a unique glimpse into the country’s past. The concentration of all these historic structures and places in Virginia has attracted many property investors, particularly those who appreciate history and would want to experience it first-hand. We also have to mention that the state government does offer a wide variety of incentives and tax breaks to those who own historic homes. All these make Virginia the perfect place to buy a historic home.
Why are historic homes so appealing to home investors?
Historic homes tell a story – when you buy a historic home, you not only buy the specific house with all the charming characteristics, but also its interesting history. To investors who appreciate history, this is everything. The homeowner is able to connect with the state’s past as well as all the people who had lived there. Also, remember that these homes do play an integral role in the state’s heritage.
Exudes alluring beauty and charm – have you ever wanted to experience what it is like to go back in time? A historic home will most certainly make you feel like you are living through a certain period or era, given their stunning architectural styles as well as their outstanding charm and beauty, regardless of the style. For instance, whether it is the ornate stone fireplaces, bay windows, arched doorways, balustrades, sturdy gables, turrets, or even towers, you will simply love everything. This is because you can’t find any of these intricate details in a modern contemporary home. In fact, it may take a while before you are able to discover all the features, which simply tells you how spectacular their architectural style really is. And the thing is, historic homes are durable as they tend to maintain their uniqueness and charm for years, which is why they still exist even today.
Tax incentives and benefits – as we mentioned earlier, owners of historic homes do enjoy certain tax incentives or deductions. For instance, under the Federal Historic Preservation Tax Incentives Program, a 20 percent federal tax credit is given on any historic property listed in the national register. Also, aside from the federal tax credit, you will get other tax incentives, which might include credits for anyone who buys a historic home intending to preserve it. Homeowners will also get loans with lower interest for the purpose of preserving the home. Remember, all these benefits aren’t available to other homeowners.
You play a role in protecting the state’s rich history – when you buy a historic home in Virginia, you become a proud owner of a piece of history, which means that you are helping in keeping it alive. Even when you renovate its interiors, and probably make some necessary repairs once in a while, you are helping to preserve it, thereby giving it a new life. The historic nature of these homes is something that many home investors buying them believe can’t be measured by money, and therefore, many want to retain them the way they are. Doing these helps to retain the connection to its history and heritage, which is an exemplary contribution to the preservation of a crucial aspect of the state’s history.
The home maintains value even in economic downturns – in Virginia, you will find historic homes located in historic areas where all the homeowners in the neighbourhood aren’t allowed by law to alter the exterior of their respective historic homes, and any kind of renovations or additions should follow specific standards. This maintains the value of all the homes in that neighbourhood, even during the worst economic downturns. Because homeowners know that there are no homes such as those being built anymore, historic homes are always expected to maintain, and in many cases, increase in value, as they always will be desirable, making it an amazing investment.
If you want to buy a historic home in Virginia, make sure that you get a real estate agent experienced in such homes in the area. This way, other than the house hunting itself, he/she will also inform you, in advance, what it takes to own a historic home in the area. Also through him/her, you will learn your duties and responsibilities with regards to the home, more so, all the history there is to tell about it. With all this information, you will certainly know what you will be getting yourself into right from the get-go.