Buying a historic home is not for everyone. But if you’re intrigued by the idea of living in a home with character, with original architecture and craftsmanship that simply can’t be found in modern houses, a historic home might be for you.
Tyler, Texas has a historic district like many other towns in the U.S. Some of the most well-known streets in historic Tyler include Charnwood, Azalea, and Brick Streets. Here you’ll find homes that date back to the 1860s with architectural styles that include Queen Anne, Tudor Revival, Classical Revival, Colonial Revival, Craftsman, and Ranch style.
But before you start seriously considering a historic home, there are some things you should know. Here’s a guide to buying historic homes in Tyler, Texas.
Benefits of Buying a Historic Home
There are many benefits of historic homes, including:
- A sound investment. When you are careful and take your time to evaluate the condition of a historic home, it can be a wise investment. Purchasing a historic home that needs some repairs and renovations, as long as you have the budget, is a sound decision. But be careful if the home has significant foundation issues or the structural integrity has been compromised in any way.
- Quality craftsmanship. If you’ve heard the phrase “they don’t build them like they used to”, it certainly applies to homes. While all homes are built to last, adhering to structural requirements to be safe and secure, new homes are built differently than homes that are more than a hundred years old. The fact that it is still standing is proof enough of the quality craftsmanship that went into the home.
- No toxic materials. You’ve heard of asbestos, an old type of housing material that was used for its flame resistant properties. It is now known to be a carcinogenic material, meaning exposure can cause cancer. Asbestos was used primarily between the 1940s and 1970s, so you can rest assured that a historic home from before that time will not contain it.
- Unique style. A historic home will have a unique style that stands out from other homes. Even other historic homes on the same street that were built about the same time will not look the same. These homes were built before the concept of spec homes, the cookie cutter houses that all look the same in a neighborhood.
- A home with a story. When you purchase a historic home, you also inherit the history of the home. It may even be named after the original owner of the home who first built it and lived there with their family. And each owner after, including you and your family, become part of the home’s story.
Drawbacks to Owning a Historic Home
Owning a historic home does have some drawbacks that you should be sure to consider:
- Must be well maintained to hold value. A historic home that falls into disrepair will not hold its value over time, meaning that you will have to maintain it well to keep your investment sound.
- Subject to restrictions. Historic homes are typically subject to restrictions when it comes to the architecture, design, and even colors that can be used on the home. The historic integrity must be kept intact, so you’ll need to check with the agency or governing body that controls the historic district where your home is located before making any changes to your home.
- May need repairs or upgrades. An older home may need more frequent repairs than a newer home. You may also find that significant upgrades are needed, such as plumbing or electrical systems. Be sure to have a thorough home inspection conducted before you purchase a historic home.
- Materials can be difficult to find or expensive. When you need a specific type of shingle or siding to repair a historic home, it can be difficult to find and more expensive. But you may not have a choice due to the restrictions of the historic district, as mentioned above.
Find Historic Homes in Tyler With Help From The Pamela Walters Group
The key to finding the right historic home for you is to work with an experienced REALTOR®. The Pamela Walters Group has extensive knowledge of the historic areas of Tyler and can advise you on your purchase, making sure you know everything you need to know about the historic home buying process. It can be a wise investment when you have all the facts. Become the proud owner of a historic home and add your name to the home’s unique story.
Call (903) 962-0075 or contact us to start touring historic homes today.