If you’re selling your historic home, you want to sell it for a price worthy of its historic value, not to mention the investments you’ve made in preservation and maintenance. But you also want to attract buyers who appreciate the historic qualities of your property and will care for it. In this Redfin article, we’ll outline how to sell your historic home. Whether you’re selling a Victorian home in San Francisco, CA, or a row house in Boston, MA, here’s what to know about selling your historic property.
Know your home’s history
Selling a historical home means that you’ll likely attract a different type of buyer. They’re often knowledgeable investors or history buffs who take pride in restoring historic properties with careful attention to the original features of the home. Thus, potential buyers will likely come armed with a long list of questions that you must be prepared to answer.
If you’re unsure of the specific facts surrounding your home’s history, do your research before listing your home. These facts create a compelling backstory about your property that you can use to attract buyers. You can also use these details in your listing description and as a way to market your home.
8 questions potential buyers may ask
Buyers will likely have lots of questions about your property. Here are some frequently asked questions:
- What year was the home built?
- What substantial renovations or restorations have been made to your property?
- Are there any significant historical facts, such as famous or notable former owners or residents?
- Is the builder’s credit history satisfactory with no open liens or judgments?
- What features remain original?
- What are the average utility costs?
- What insurance company do you use?
- Are there any restrictions to updating the home?
Don’t leave money on the table
See what your home could sell for in today’s market.
Check your home's valueConsider selling the home as-is
The usual repairs and renovations that you might make before listing your home must be carefully handled when selling an old house. For instance, replacing drafty windows may not be advisable because this would detract from the original look and feel of the home and reduce its historic value.
While you should clean your home thoroughly, use caution on original finishes. Likewise, a fresh coat of paint can make your home more appealing, but you should avoid covering original finishes. Don’t use colors that aren’t appropriate for the time period in which your home was built.
If your property is distressed and you don’t have the time or the funds for restoration, you can still find a buyer. Be honest in the listing materials that your home needs work. Disclosing the distressed status of your home may appeal to some buyers who are looking for a creative home restoration project or a fixer-upper.
There are some federal tax breaks for renovating historic buildings, but these are limited to non-residential or income-producing properties. However, you should look into state-specific and local incentives for purchasing or restoring historic homes and make prospective buyers aware of these possible benefits.
Selling a historic home is about restoration, preservation, and education. Your home’s unique history and original fixtures and finishes may be the primary selling points that earn you the selling price you’re hoping for.
