Historic District Homes as Rentals

[Cassandra Brown]

We just wend under contract for a duplex in a historic district. How difficult is it to own a property that has to meet historic guidelines, and what are the biggest parameters that must be met when making updates to the property? Do these apply to both indoor and outdoor remodels? Paint color? 

Not looking to change much on this property, as the previous owners did a lot of renovations recently. Just wondering how tricky it is to work with historic districts. Also, any things to watch for on homes 100+ years old? This property was built in 1915: beautiful, but definitely aged. Thanks!

[Jason Turgeon]

I love old properties, and I am a preservationist at heart. My own house is an 1845 Greek Revival. But man, historic renovations are expensive and having a HARB or similar body will add a lot of time and expense to your property. You can make money on old houses, but you need to be prepared for a different level of expense than you are used to with cheap 50's and later construction.

These boards do serve a purpose but be prepared to have every single thing you do to the exterior of the house reviewed, questioned, and approved. No cheap vinyl replacement windows, no vinyl siding, no cost-effective pressure treated exterior decks, no hanging a ductless mini split off the front of the house, etc., etc. As mentioned above, get to know your local board and their rules and make sure you know what you are in for before you close the deal.

In general, they only have jurisdiction over the exteriors but they definitely can get involved in paint color, trim, siding, doors, windows, etc., etc.  And if you are buying an old gem in a historic district, you are crazy if you want to rip out or change any of the historic interior details even if you are allowed to. Those details are what makes the place more valuable to sell in the future, and many tenants also are willing to pay a premium to live in a nicely restored place with period details.

I wouldn't advise anyone to own a historic property if they don't love and treasure these old gems, inside and out. If your goal is to do a cheap renovation with big box materials, don't buy this place.