Historic homes are beautiful, romantic and fun to own. However, if you're thinking about buying a historic home and you've never owned one before, preparing yourself can help make the experience a good one. Here's what you need to know about buying a home with historic value.
Budget for Maintenance
Historic homes may have a lot of deferred maintenance. Original features in particular tend to need extra love and care to ensure that they can continue to function. Homeowners are encouraged to budget at least 1% of their home's value for home maintenance every year. Homeowners with historic properties may need to set aside more to ensure they can keep their home functioning.
One of the factors that affects the cost of maintenance is whether…