DEPEW, NY, May 20, 2013—If you have a historic house and care about maintaining authenticity, then you may be facing unique challenge when attempting to renovate. Renovation of an older house can be very rewarding, yet comes with its own unique challenges. “It's natural for an owner to want modern conveniences,” says Peter F. Hunt, Chairman & Chief Executive Officer of HUNT Real Estate ERA .
“To maintain the character of your property, you may have to do a little extra work—or at least provide extra forethought—so that both goals can be accomplished.” And if you aren't sure whether or not you want to keep the authenticity of your home intact, remember: Many states offer tax incentives, reductions and abatement programs for owners of residential historic homes. Historic structures offer a 20 percent investment tax credit for qualified rehabilitation expenses, if they are income producing properties.
A historic structure is one listed in the National Register of Historic Places or so designated by an appropriate state or local historic district that is certified by the government. The tax code does not allow deductions for the demolition or significant alteration of a historic structure.
“Understand the architectural history of your building before starting a construction project,” recommends Hunt. “Look for reoccurring building patterns and construct accordingly. For instance, if you're planning an addition, use the same patterns in the new portion of the house.”
Repair over Replace
Another thing to keep in mind is repairing—rather than replacing--historic materials. “Masonry, wood and architectural metals can often be easily repaired if you find the right specialist,” Hunt comments. “Remember that historic preservation is often based on the retention of historic materials.”
Maintain, Maintain, Maintain
One of the best ways to keep your old home in prime condition is to maintain it regularly. Clean your gutters, refresh paint, keep up with your roof and siding and make sure to check for and manage all leaks. “Before starting a project, be sure to find a specialist who deals with older homes and talk about what you have in mind. Stress the importance of keeping your home authentic,” Hunt recommends.
For more information, please contact HUNT Real Estate ERA at PHunt@HuntRealEstate.com, 800 688 1170, or HUNT Real Estate ERA.
About HUNT Real Estate Corp.
HUNT Real Estate Corp. is the parent company of HUNT Real Estate ERA. With 33 branches strategically located throughout western, central, and upstate New York and Phoenix, Arizona, HUNT Real Estate ERA is the largest family-owned and operated real estate company in the area. A leader in the residential real estate industry with over 100 years of experience, HUNT also operates a commercial brokerage as HUNT Commercial Real Estate, a mortgage banking firm HUNT Mortgage, two insurance agencies HUNT-Vanner Associates and HUNT Insurance Agency, a title agency Network Title Agency of New York, an award-winning Relocation division, a residential building company and a fee-for-service brokerage. HUNTs mission is to build its sales presence through successful sales associates, to grow profitably, and to provide the highest quality of real estate and homeownership services in the markets in which it operates. For more information regarding real estate listings in your local market and HUNTs homeownership services visit www.huntrealestate.com or become our fan on Facebook at www.facebook/huntrealestate.com.