The investment positives that can result from owning an historic home can outweigh the negatives. Securing such a property does have benefits. They can range from reductions in property taxes to adjustments to assessed value, and from state income tax credits to property tax freezes for qualified rehabilitation and restorations.
Often we have heard historic investment home buyers point to the rewarding sense of history as a deciding factor in their buying decision. Whether the meticulous detailing or the amazing craftsmanship found in historic homes attracts them, or possibly the satisfaction of restoration, buying an historic home as a second home investment in one of Asheville’s 12 National Districts can have positive effects on property values that pay off for our clients.
When investing in an historic home, we always recommend an appraisal. The National Trust for Historic Preservation offers a number of resources such as:
“The American Appraisal Institute is an international independent membership association of professional real estate appraisers. It directs residential and commercial real estate appraisal education, research, publishing and professional membership designation programs. Their website includes educational links and ways to locate a local appraiser.
The American Society of Appraisers is an international organization of appraisal professionals and others interested in the appraisal profession. Each member specializes in a specific field of appraisal. Among its resources are tips on "appraisal basics," various publications, and help finding an appraisal expert. “
The photo in this post shows a is a fine example of Asheville’s architectural past, a restored historical Asheville B&B . It is listed on the National Register of Historic Places, and located in Asheville’s Montford Historic District.
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