The District of Columbia is full of history — and we’re not just talking about the dozens of landmarks and monuments dotting the landscape. Much of the area’s history is reflected in its real estate, attracting buyers with an eye for charming row houses and Victorians, and a yen for preservation. These types of buyers “look at themselves as stewards of history in some ways,” says Nate Guggenheim of Washington Fine Properties, LLC. They are likely to value character and unique architecture as well as authenticity in a home.
If you loosely define a “historic home” as a residence that predates 1920, you can find properties all over the District of Columbia region. The two most notable historic areas are Georgetown in the District, and Old Town in Alexandria, Virginia. Both were once important port towns. Georgetown’s port “was as far North as ships could go up the Potomac River from the sea,” Guggenheim explains. “These two areas developed around trade.”
Other places where buyers can find historic homes include Logan Circle and Capitol Hill. Meanwhile, Kalorama and Kalorama Triangle Historic District near Dupont Circle and Adams Morgan, “have beautiful Victorian row houses dating between 1910 and 1915,” says Carlos Garcia, a Realtor with Eng Garcia Properties, LLC at Keller Williams Capital Properties.
Once you find a potential home in a historic area, top District real estate agents identified by OpenHouse Realty, a real estate data company (and a U.S. News partner), advise taking the following steps to ensure the home is right for you — and vice versa.
[Read: A First-Time Buyer’s Guide to Washington, D.C.]
Do your research. Guggenheim, who owns a home in Georgetown originally built in the 1860s, says it’s helpful to know a home’s history before purchasing it. “That way you know what you’re getting,” he explains. “If you’re aware of what’s been done by each of the previous owners, you have a better idea of what the house was like, originally.”
Prospective buyers should ask how many owners the home has had, “if and when any known renovations were done and if there are any stories about the home that are of note,” Guggenheim adds.
Don’t try to change everything. You’re not dealing with McMansion-sized living rooms, open floor plans or a finished basement with historic homes. Instead, brace yourself for awkward layouts, smaller rooms and fewer bathrooms. “Houses built in the 1850s were not designed for today’s manner of living,” Guggenheim emphasizes.
For this reason, charm, character, authenticity, architectural details and pride in history need to outweigh all of the idiosyncrasies of living in a historic home. For example, you might have to settle for smaller windows and less light than what you’d typically find in more modern properties, because for those living in the Victorian era, a dark home made sense.
“Today, we have so many ways of correcting for the elements,” Guggenheim explains. “If it’s hot there’s air conditioning. A long time ago, you couldn’t have too many windows in a house because it would get too hot in the summertime and too cold in the wintertime.”
While some renovations are possible, Guggenheim advises that buyers shouldn’t expect to make huge modifications that conform to the way people live today. An adaptation of an historic home “can lead to an overrun in presumed cost and potential frustration,” he cautions.
“While there are those who strip older homes of their originality for something more contemporary, I feel that originality is something to be both cherished and preserved, such that the historic fabrics of these homes and neighborhoods remain genuine,” Guggenheim explains.
[Read: 10 Up-and-Coming Washington, D.C., Neighborhoods to Buy a Home.]
Approach renovations judiciously. If you do intend to make alterations to a historic home, “Find someone who already knows the neighborhood like the back of his or her hand” and is comfortable with and knowledgeable about doing renovations on historic homes, advises Keri Shull, founder of the Keri Shull Team at Optimé Realty in Arlington, Virginia.
Opportunities do exist to renovate in a manner that compliments the attributes of a historic home. But before you set your heart on making changes, get an estimate from the contractor, as the costs associated with renovating a historic home are likely to be more substantial than they would be for a more modern home.
Get familiar with the approvals process. The District area’s historic neighborhoods generally have an approval process for any type of exterior modification. Even a basic upgrade like replacing the siding would likely have to go through the approval process. Georgetown is one of the hardest places in the country to make these types of alterations, Guggenheim says. “You have to deal with the Old Georgetown Board, which is governed by the U.S. Commission of Fine Arts.”
You won’t just have to answer to local authorities, either. Even more vigilant are the neighbors living next to you. People who live in historic districts often serve as the local enforcement authority because they care so much about preserving these homes, Garcia says.
You can get a tax break. This is a major perk to owning a historic home. If you buy a property in a historic district, you can participate in a facade easement program developed by the Internal Revenue Service and U.S. Department of the Interior. This where you grant a private entity, such as a historic preservation trust, the right to enforce local historic preservation laws against your property. “The reason for doing this is you get a huge tax break, which can add up to tens of thousands of dollars,” Garcia says.
[Read: D.C., Maryland or Virginia — Where Should You Live?]
Prepare for high listing prices. Charm comes at a cost. Historic homes in the District of Columbia metro area are generally quite expensive, especially if the neighborhood is historically significant. In some places like Rockville, Maryland, or Fairfax, Virginia, prices may start around $750,000. Most historic homes in the District will be closer to $1 million, Garcia says.
“In Georgetown, homes are expensive because each house is a little piece of art,” Guggenheim says. The question you should ask yourself is: Is it worth spending $1 million-plus to invest in that piece of art?
Some believe it is. “What attracts me to Georgetown is my house is one piece of a greater fabric that makes it so beautiful,” Guggenheim says. “There are so few neighborhoods like it in the country.”
While it’s true that homeowners need to jump through some hoops to make any changes, “it is truly exceptional that there are so many people whose vocations are devoted to preservation of historic neighborhoods, and for that we should be grateful,” he adds.
It’s also a great opportunity to step back in time and own something with a high level of quality and craftsmanship, Garcia contends. These structures “will probably outlive us, so on some on level it’s a privilege to care for such a property.”
It underscores the old saying, “they don’t build them like they used to,” Garcia says.
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What to Consider Before Buying a Historic Home in Washington, D.C. originally appeared on usnews.com
