How to Buy and Sell Historic Luxury Homes

There is a growing demand among affluent home buyers for historic homes and properties. These properties tend to retain their value well, due to their historical value, and they also offer a unique opportunity to own a one-of-a-kind piece of history.

Not just anyone has knowledge or experience with historical homes, as buying and selling historical properties is not the same as a normal home. So, before you do anything else, make sure that you familiarize yourself with the eight points discussed in this article.

What Constitutes a Property as Being Historic?

First things first – just because a property is old does not mean that it has any historical value. Properties have a number of criteria that must be met in order for it to be deemed historic by the National Register of Historic Places. The three main aspects that make a home historic are the integrity of the home, the significance of the property, and of course, its age.

In terms of integrity, the property must be largely unchanged from its original design. Then, the property must hold some sort of historical significance, including being involved with a historical event or being owned by a significant individual. Finally, the property must be more than 50 years old. Some historic homes are newer, but those are rare exceptions.

8 Tips for Buying and Selling Historic Homes

If you are seeking to purchase a historical home or to sell one, the eight points below must first be taken into consideration.

1. Know the Historical Significance

The first thing you should do is take the time to research the property to find out what actually makes it historically significant. Make sure to check the National Register of Historic Places, as it must have met the criteria in order to be listed in that database. If it is listed, then be sure to find out as much as you can about any noteworthy events or people associated with the property.

2. Emphasize the Allure of the Piece of History

Whether you are the buyer or the seller of the property, you have to properly convey to the right parties why this property is so significant. Be prepared to discuss the nitty-gritty details, ranging from the resale value to the specific historical aspects of the property. The more knowledgeable you are, the better your conversations will go.

3. Determine What is Original vs Modern

Part of the requirements of a historical home is that the property must remain similar to the original home. However, that doesn’t mean that you are required to use ancient bathrooms or kitchen appliances. While an original kitchen or bathroom is interesting to look at, it also must be functional. Take the time to decide what should be modernized and what can remain original so the home can keep as much of its charm as possible.

4. Showcase Ornate Details and Craftsmanship

The best part of a historic home is the custom and unique features that can’t be found anywhere else. Original handcrafted doors, ornate staircases, impeccable woodwork, unique chandeliers, and even beautiful stained glass are all details that should be heavily showcased.

5. Leverage Digital Marketing

Showcasing a historic home requires more marketing placing the property on Zillow. For a property as unique and special as a historical home, the marketing needs to reflect that. Consider building a dedicated website for the property where you can show-off its unique features and important details and information. If done right, your site will encourage shares and expand your audience.

6. Find Your Target Market

Asides from your marketing strategy, there are other means to finding your right audience. For instance, consider offering unique home tours that highlight the properties ornate details and rich history. Another idea is to host a special event at the home to attract history-lovers.

7. Build the Right Relationships

Take the time to research local historical societies, preservation groups, or similar organizations in your area that are interested in your property. Not only can these organizations possibly help spread the word about your home, they may also know secrets about your home that you may not know about.

8. Highlight Tax Benefits and Other Incentives

Make sure that your potential buyers or sellers are aware of the various tax credits and incentives available to those that own historic properties. For instance, the Federal Housing Rehabilitation Tax Credit can help those who plan on renovating or making other improvements on a historic property. The more familiarized you are with the benefits and requirements for these incentives, the better you can speak to buyers and sellers about the property.

Work With the Best in Southwest Florida

No matter what your goals are with your property, make sure you work with the best real estate professional around to help you in your journey. Contact Dianne Anderson today to get started!

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