Discover the Secret to Owning a Piece of History! New Bern’s historic homes offer charm and stories modern homes can’t match. But beware, it’s not all easy! This guide reveals the allure, challenges, and ultimate rewards of buying a historic home. Don’t miss out on making history yours!
Finding Your New Bern Historic Gem
Popular Historic Neighborhoods
New Bern is dotted with neighborhoods rich in history and character. Some of the most sought-after areas include the Downtown Historic District, Riverside, and Ghent. Each neighborhood offers a distinct architectural charm and a glimpse into the city’s vibrant past.
Working with a Realtor
The key to finding your dream historic home lies in partnering with a real estate agent who specializes in such properties. These agents possess the knowledge and expertise to guide you through the unique challenges of buying a historic home, from identifying potential issues to understanding the value of preserved features.
Online Resources
Leveraging online resources can significantly aid your search. The New Bern Historical Society offers tours and extensive information on historic homes, while the National Register of Historic Places provides a list of properties recognized for their historical significance.
Financing Your Historic Home
Traditional vs. Specialized Mortgages
Financing a historic home can differ from acquiring a modern property. Specialized mortgages, such as those tailored for historic properties, may offer benefits that traditional loans do not, including renovation funding.
Historic Home Renovation Loans
For buyers looking to restore a historic home, FHA 203(k) loans and other renovation-focused mortgages can provide the necessary funds for both purchase and renovation, making them an attractive option.
Grants and Tax Credits
Investigate local and state incentives for historic home preservation. Many areas offer grants and tax credits to encourage the restoration and preservation of historic properties, which can alleviate some financial burdens.
Inspections – Beyond the Standard
Qualified Historic Home Inspector
Hiring an inspector with experience in historic homes is crucial. They can identify issues common in older properties, such as structural, electrical, or plumbing systems that do not meet current standards, and hazardous materials like lead paint or asbestos.
Key Areas of Focus
- Structural Integrity: Foundation, beams, and overall structural soundness are critical.
- Outdated Systems: Electrical and plumbing systems may need significant updates.
- Lead Paint or Asbestos Hazards: Common in older homes, these require professional attention.
Preserving History: Rules and Resources
Local Historic District Regulations
Understanding the regulations of your local historic district is vital. Many renovations need approval to ensure they preserve the home’s historical integrity. Familiarize yourself with these rules to avoid legal issues and to maintain the historical value of your property.
Trusted Restoration Contractors
Identifying contractors skilled in historic preservation is essential for maintaining the authenticity and value of your home. They can navigate the intricacies of restoration, ensuring modern updates do not detract from the historic character.
Potential Tax Benefits
Owning a historic home may qualify you for tax benefits aimed at preserving historical structures. These incentives can offset some costs associated with maintenance and restoration.
Embracing the ‘Renovation’ Lifestyle
Realistic Budgeting
Anticipate higher renovation costs than a typical home. Historic homes often require specialized materials and skilled labor, which can add to the overall expense.
The DIY Factor
While some tasks can be handled by the homeowner, it’s important to know when to call in professionals. Certain renovations require expert knowledge to preserve the home’s historical integrity.
Historic Home Renovation Community
Local resources and online groups dedicated to historic home renovation can provide invaluable support and advice. Engaging with this community can help navigate the challenges and share in the joys of historic home ownership.
Conclusion
Buying a historic home in New Bern is a journey filled with discovery, challenges, and ultimately, the reward of preserving a piece of history. Remember, it’s not just about acquiring property but also about becoming a steward of the past. With careful planning, expert advice, and a respect for the home’s historical significance, you can enjoy the unique beauty and character of a historic home for years to come.
