Looking . . .

I love older homes but they do bring some unique issues to homeowning. Ours is about 80 years old -- how cool to live in a house that is over 100 years old!
I would suggest finding a really good, knowledgable realtor or a building contractor who works mostly or exclusively with older homes. Or at least least an inspector familiar with older homes. (You used to work in real estate, right? Maybe this isn't helpful....). I'm sure that if this guy is a good businessman he is seeing the opportunity to avoid these types of fees....maybe you could work out using the same broker for a reduced fee or something like that.

[SueC]

We live in a historical home (its only 82 years old, so not as historical as the one that you're talking about). Actually, we live in a historic district, which has its own set of issues, though it hasn't really been a problem for us. In our neighborhood, you cannot do anything to the exterior of your home (other than maintenance) without first getting approval from the landmarks commission. We have to fill out some paperwork describing what our plans are, then attend a hearing where a panel decides whether or not what we are doing is appropriate. I personally don't mind going through this process, because it ensures that my neighbor isn't going to do something obnoxious to their house that could affect my property value.
We live in an arts and crafts style home that has some very unique features that we love--beautiful crown molding, built-in bookshelves on either side of the fireplace, unique light fixtures, old-fashioned tub, etc. The cons are that this house will always have imperfections. Our windows are drafty, there are cracks in the ceilings and walls, and there is always another project that we need to work on. The walls are plaster and lathe, and although we have replaced most of it, our house still has some knob and tube wiring running through it. We have had fun restoring it, and luckily my husband is very handy so we have saved money that otherwise would have been paid to contractors. It's been a labor of love, though, and I have to admit we have spent a fortune restoring this house. When we sell, we hope to break even. We think this has been a good experience for us, but I'm not sure whether or next house will be historic. Some days we can't imagine living in a "cookie cutter" home, other days we just want everything to be new and level. Good luck with whatever you decide.

[BonBon]

Ours isn't really historical, but it was built in 1930 and added onto many times. The original part of the house drives me nuts because no matter how much care and effort you put into everything...nothing is ever perfect. I like 90 degree angled corners and walls that are completely flat. There is also the issue with lead-based paint which is a real pain in the butt. Hmm...this probably wasn't helpful at all. Make sure you LOVE the house before you decide to buy.

Owning this house has made us decide to build our next one.

[Cumberland]

What are your thoughts on resale values of old houses versus the new 'cookie cutter' kind? we have always lived in older homes and loved the uniqueness, but DH is saying when we buy in residency, he wants us to have a new home bc they have a better resale value. I cant imagine moving into a house that doesnt need any TLC and that look just like my neighbor and that has no trees since they were all mowed down. This is kind of a subject of debate for us as you can proabably tell............

Consider my bias in this...but I think that older homes have better resale value. I'm sure there is some regional variation here to consider.

What we have seen happen in our area is that newer homes do not sell as quickly or for as much $$ because someone can just buy a brand new home. Why buy a home that is 3 years old when you can buy one for about the same price with everything new? That seems to be the logic any way. If I had to guess, the rate of appreciation in older homes has been faster than newer homes but I'm not sure.

As a comparison, our neighborhood is sought after and the only new (10 years old or newer) homes to the east, west, and south are upward of $800K. So, if someone wants to live around here in a house and not a townhouse, an older home is usually the only option. And there will always be a limited supply of older homes. I feel like we are in a better position to sell and get the price and terms we want being in our location and an older home.

But like I said, I am coming from a rather biased position!

[SueC]

I think it does depend on where you live. We live in the city, and nice, fixed-up homes in safe neighborhoods go for a pretty good price here. If my house were plunked down in other locations (out in the burbs), it would probably not go for as high as it could right here. A lot of it depends on what is happening in your area--for instance, we are expecting a big development to happen in our downtown in the next few years, and as one of the closest neighborhoods to that area, I expect our property value to go up pretty high if/when that happens. If no downtown development was happening and crime was going up, nobody would want to live here and our house would sell for peanuts.

I don't know but I would think that either the house would have that distinction through a local or national organization or it would be in an historic district, similar to Sue's situation.
If he is selling it as having some sort of certification -- I agree that you should see it and find out about the certifying organization/agency and any requirements.
Maybe check out the website for that PBS show -- This Old House -- maybe they define historic or have links that would be helpful.
That's a good point about the access road too. I would want to know where he is in the process of obtaining building and access permits from the city/county. That would stink to buy the house, then have his zoning or plans change.....

Sounds like it could be a wonderful house if all the conditions are good. Let us know what you find out!

I would love to speak to you about historical houses in the Philly area. We are renting a huge historical house that was built in 1865, just 3 blocks from Philadelphia's City Line. WE HATE IT!!!!!!!!!!! Oh sure, it looks big and there are pretty aspects on the inside with the high ceilings, original wood floors, giant windows, fancy architecture, etc. BUT-------there are MAJOR PROBLEMS with very poor insulation (ridiculous heating bills), plumbing issues throughout the place that has resulted in sewage flooding the entire basement requiring heavy duty cleaning crews to come in (regular flooding in the basement with every major rainfall/snowmelt) Also, we have had difficulty with electrical outlets and phone lines---having to get lots of stuff replaced (and still only being able to use a limited number of plugs due to the circuit breakers frequently going out). Let's see------the plaster on the walls is cracking everywhere!!!!!!!!! What else??? Hmmmm, the neighborhood is infested with poison ivy, I painfully discovered a few weeks after we moved in. We hate it.

Originally, my husband thought it would be fun to live in an old house, but he has agreed that as soon as we find a job, we are going to find us a nice NEW or almost new house.

[DCJenn]

Not to be a buzz kill here folks but believe me, new homes are no guarantee of no work or no maintenance.

My ex and I bought a brand-new gorgeous townhouse (after completing redoing his 1940's house and swearing we would never do it again!) Well, we spent the first year repainting everything the painters missed, he had to put in a French Drain (at the builder's expense but it was a huge pain) because the basement leaked, we had to completely landscape the barren yard (we got 1 tree and 3 bushes that immediately died), and the siding blew off after a really bad windstorm. We paid over $250,000 for that house, too.

Nope- my money is going to be in an older house where at least I can't hear my next door neighbors arguing and then having sex.

Jenn

[mommax3]

I do not claim to be any kind of an expert on old homes, but the one we live in is 50 years old, and although it is basically solid, there are things that annoy me, being that I live in a completely different century than the people who planned and built this home. The floor plan really does not work for us at all since entertaining has changed so much since this house was built, but we just should have been better judges of that when we were looking. The biggest thing is wiring for cable, internet, etc.......we don't have enough outlets and they are not in the right places. I don't even know how expensive this would be to alter, but since we are out of here in a year and a half, I am not looking to put much money into this place.

Just something for you to think about......I hear you about established trees, etc. I do have that!

Sally

[Rapunzel]

Well, living where I do now I had to say something on the subject.

We live in an old Irish Boston neighborhood called "West Roxbury". It is a unique neighborhood in that it feels like a suburb although I am in the city only a short drive away from the "inner city" and downtown. The neighborhood itself has houses from varying periods but mostly Victorians, Craftsman, and a kind of hybrid Victorian-Craftsman look as well as a few Cape Cods, brick Federals, and French Mansards thrown in. It is a super-cool place to go for a walk! My house is approx. 85-90 years old if I remember correctly. In this town a "historic" house is generally something over, say, 200 years old - (But considering that Boston was settled around 400 years ago a 100 year old house out here is "young"). So, the pros and cons of living in an old house in an old neighborhood from my perspective:

Pros:
-Architectural authenticity
-Rock-solid contruction (USUALLY - and I'm mostly talking about the fact that the house isn't going to fall over on you...)
-Generally built for large families (ie lots of bedrooms)
-Unique
-Cool details
-Generally the property will have wonderful older foliage - the huge old trees really add character and value to a property (we have some around here that are unbelievably enormous and old).
-If you end up in a neighborhood with tons of old houses you will often find neighbors that are very intent on keeping the neighborhood a "community" (ie often, but not always, you'll have good neighbors who have lived there quite a while).

Cons:
-Old plumbing, old circuitry, old EVERYTHING - there are a billion things to bring up to "code" if the house is very old and with good reason - the old electrical wiring cannot handle the load placed on it by modern appliances. We have our circuit breaker flipping constantly.
-Often not enough bathrooms (remember, these houses are usually built in a time when one bathroom would suffice just as one kitchen would suffice - same mentality, who needs more than one? )
-Sometimes you have to "fix" the work done on the house by previous owners.
-POOOOOOR insulation - and usually not enough room to place central air and heating in the home. (btw Did you know that if you replace the original windows with new, easily cleanable, well-insulated ones then that single act will dramatically drop your heating bill HOWEVER you will actually also REDUCE the value of the home!!! ).
-CHECK FOR TERMITE DAMAGE (up here, though, it's carpenter ants) In warmer environments I would be sooo surprised if a truly old home didn't have some damage from these pests.
-Wood shingles look nice, but they are a major fire hazard. Slate roofs are beautiful (we have one) but the slates FALL OFF over time and can land on someone (not to mention you have to pay to have someone bolt down the rest of the loose ones).
-Overall, expect to have large maintainance (and sometimes remodeling) costs with an old home.

Personally, after much thought on the matter (and, this is something I've been thinking about for years) I have decided I want a new home built using an 'old' floorplan and with older construction techniques. So, I want a home with the quality construction of yester-year and the beauty and style of an old home BUT with modern plumbing, electricity, ethernet, kitchen layout, and a decent number of bathrooms.
So, I have shopped around on the net quite a bit and finally found a site I really, really love: http://www.historicaldesigns.com/collections.html

The house I want to build is this one (Although I would add two more bedrooms and another bathroom on the second floor above the laundry room and master bathroom/closet as well as a mud room off the kitchen entry and a large porch in back - yeah, I've got plans! 8) ):
http://www.historicaldesigns.com/victor ... p4472.html

Jennifer

[mommax3]

Thanks for posting that link....I love looking at house plans that are designed to mimic older styles. Although our finances will probably keep us from ever building one, it is still fun to look!

Sally