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All Forum Posts by: Angelo Aguirre

Angelo Aguirre has started 10 posts and replied 46 times.

Post: Historic Restoration Questions - Pros/Cons

Angelo AguirrePosted
  • Madison, WI
  • Posts 51
  • Votes 11

@Jay Ingram,


Thank you for all of the information. After reading up on my property in question, there too were restrictions on the outside having to be maintained as original with minimal interior modifications. I agree, it does seem to be contain more steps and is more meticulous than a normal rehab. I think the idea is great, to restore a historic home, but only if resources allow. Thanks again! 

Post: Historic Restoration Questions - Pros/Cons

Angelo AguirrePosted
  • Madison, WI
  • Posts 51
  • Votes 11
Originally posted by @Jonathan Holmes:

I’ve never done one as a investment but the organization I work for did a partial rehab on a historical home. The short answer is it depends on the local government. I know we did all new electrical, new vinyl siding, new vinyl replacement windows plus some other items. However, I have read stories on BP about local governments stipulating what type of siding can be used and all sorts of stuff.

My advice is to call the municipality that the property resides in and ask them to direct you to the law on historical homes. It can be very restrictive. As far as things to look out for in the home, electrical, plumbing, lack of common amenities and everything possibly being past it’s useful lifespan.

Post: Historic Restoration Questions - Pros/Cons

Angelo AguirrePosted
  • Madison, WI
  • Posts 51
  • Votes 11
Originally posted by @Angelo Aguirre:

Jonathan, 

Thank you for the information. After walking through my property in question, I was also thinking about the main utilities such as electrical and plumbing. But it's great to hear that others are also doing this type of renovating. I really appreciate it!

Post: Historic Restoration Questions - Pros/Cons

Angelo AguirrePosted
  • Madison, WI
  • Posts 51
  • Votes 11

Jamane, 

Thank you for the reference! I will have to search our Michael to see if I can find that podcast. Thanks!

Angelo 

Post: Historic Restoration Questions - Pros/Cons

Angelo AguirrePosted
  • Madison, WI
  • Posts 51
  • Votes 11

Jonathan, 

Thank you for the information. After walking through my property in question, I was also thinking about the main utilities such as electrical and plumbing. But it's great to hear that others are also doing this type of renovating. I really appreciate it!

Post: Historic Restoration Questions - Pros/Cons

Angelo AguirrePosted
  • Madison, WI
  • Posts 51
  • Votes 11

Hello,

I am curious if anyone has done a rehab on a historic house. Being a registered historic structure, were you limited in any way? I do believe there are stricter rehab guidelines in regards to maintaining its original look. However, did the age of the house hinder the re-sale process at all? Where there major surprises while rehabbing such an old home?

I also see there is a tax incentive, the Investment Tax Credit, that allows for a percentage of rehab costs to be written off as a tax credit if the rehab was done to a registered historic structure. 

With so many angles, is a historic rehab worth it? 

Thank you for your input!

Angelo