This is a great opportunity to have a Historic Home put on your own lot. I love to see this because far too often Historic Homes are simply torn down with no regard to its history. One thing I have learned from my real estate profession and having been in the antique business previously, is we need to preserve every aspect of our past in order to stay connected to our future.
What many people buying real estate don't realize is preserving a Historic Home is a solid investment long term.
1) The average person could never afford to build homes of the quality that most historic homes are,the materials and labor are simply too expensive today.
2) Typically these homes are located in prime locations like rural farming communities with lots of land or Historic Downtowns or Former Cottage Communities.
3) People like to have a connection to the past , they want to feel safe and know their neighbors. A mix of neighbors & housing styles creates this, it also can open up opportunities to work,live & socialize within a community which is very healthy for society. All of this gives way to an authentic lifestyle opportunity.
Although it can be expensive to maintain a Historic Home it is clearly a worthwhile investment if you are in the position to, as evidenced in this property on 155 Ferry Rd.,Bristol, RI , they obviously respect it enough to try to save it. It is not for everyone however, for those that do not want to preserve old homes with like materials they should not be considering buying one. Vinyl windows & siding are not preservation and it will be perceived as disrespectful of not only the home but the neighbors that are trying to do the right thing and preserve their homes. Best to know your suited to owning an older home than trying to turn it into a new house and finding out when you are too far into it. I will say another avenue that is worth pursuing to help with the burden of maintaining an old house is Historic Tax Credits which are available in RI. More on this later.
So if anyone is interested in this endeavor check out the following article.