With their original floor plans and fascinating histories, historical homes can make interesting places for your family to live. However, buying a historical home can be different from buying a traditional home. You have to consider more than just the neighborhood and home features. Before you buy a Chicago historical home, be sure to ask these four questions.

  1. What are the local historic district regulations? Historical homes are usually registered with a historical building organization, such as the National Registry of Historical Homes, that sets standards for what qualifies as a historical home. These organizations have rules that specify everything from what paint colors you can use to acceptable window upgrades. Make sure you can live with these rules. While the National Registry provides some excellent information, The Chicago Landmark Ordinances provides in-depth local information.

    Historic Old Town Triangle Row House

  2. Will the home need any renovations or restorations? Home repairs for a Chicago historical home can be costly. Not only will you have to find specific materials and follow specific guidelines, you will also have to find workers who are skilled enough to complete work on delicate properties. The costs for the renovation/restoration should be taken into consideration when preparing an offer to purchase a home of historical significance. For additional reading, check out Historic Chicago Greystone renovating
  3. Can the home be repaired or restored with appropriate materials? Historical homes are subject to standards that govern the home’s appearance, and this can limit the work you can do on the home. For example, if you want to paint your home’s exterior, you may be required to use certain colors to maintain the historical designation.
  4. Will the home retain its value? Your home is probably your most significant financial investment. Chicago is an old housing market and has an abundance of homes with historic or architectural significance. So when buying a Chicago historic home, while there are no guarantees of appreciation, the chances are better that they will maintain their value over some of their newer counterparts. It’s still prudent to look at the neighborhood and the values of other homes in the areas so you are making the best possible financial decision. Just because a home has a notable history doesn’t mean it will hold its value over time.

If you’re looking for a unique home for your family, a Chicago historical home may be right for you. No matter what type of home you’re looking for, I can help you find the perfect home to meet your needs.  Call 312.953.8685 or email me at Doug@LincolnParkLiving.com today to discuss how I can help you.