If you’re looking for a unique home, you may be considering buying a historic house.

Here are the pros and cons of purchasing a historic home.

Pros

A Home With a Story ” If living in a famous persons old property excites you, a historic home might be perfect.

Unique Architecture ” Many people are attracted to unique architecture and many historic homes offer that charm.

Tax Incentives ” Some areas offer tax incentives to people who purchase historic homes.

Cons

Repairs ” The biggest downside is that historic homes often require a lot of repairs.

Renovations ” Even if repairs arent required, you still may need to update the home with modern conveniences.

Insurance costs ” Historic homes can bring much higher insurance costs than rates for typical houses.

Published with permission from RISMedia.