Buying Properties in The City Historic District ... Pro's & Con's

[Cassandra Sifford]

Good day BP!  I am interested in buy and hold's of multiple MF vacant properties located in the Historic District of Wilmington, DE (West Center City, Trinity Vicinity and Quaker Hill).  Most of them are also owned by the city.  I've been in contact with the city planner and he wants to connect me with the zoning administrator to further discuss my interests.  I've got about 15 questions to ask between the two of them, but was wondering if you happen to have any general questions or renovation lessons ... successful and not so successful in working on properties within a historic district.  I've read about local building permit applications and approvals and still wanted some additional insight.

** NOTE: RESPONSES NEED NOT BE SPECIFIC TO WILMINGTON, DE AS ANY MAY STILL APPLY TO MY AREA **

Thanks in advance ... Cassandra :)

[James Masotti]

Originally posted by @Rumen Mladenov:

Beer sounds good! When and where?

@Cassandra Sifford, one thing you may need to consider is vacant property fees. I bought a house for myself that had been vacant for 6-7 years, and it took me a while to make it livable; New Castle County made me register it as a vacant property while I worked on it, and said that I have to pay a fee of $500 a year after that, going up to $1,000 on year two and so on each year. Make sure that is not the case in Wilmington, and/or make sure you can fix up whatever you buy before you get hit with those fees.

 City of Wilmington has this program as well. Link below.

City of Wilmington Vacant Property Registration Program