To Preserve, Protect and Defend
For some homeowners, a home isn't a home unless it's historic
By Patricia V. Rivera CTW Features

CONTRIBUTED PHOTO Great taste, less modern: Numerous studies have shown that historic districts contribute to the economic and cultural revitalization of a town. Says one owners of a historic home: When you own a home in a historic district, there is a feeling that you own something precious.'

Sharon Hinson hears the misconceptions all the time. Some folks equate historic homes with old and assume that these properties are cheaper to buy. Others don't want anything to do with a structure listed on the National Register of Historic Places for fear they'd face too many restrictions as owners.

The reality in both cases is quite different, and more homeowners increasingly are figuring it out when they realize that the home that catches their fancy is part of a district that sits on the National Register.

"These homes are a great investment if you're into preservation," says Hinson, the owner of an 1812 two story-federal house in Savannah, Ga. She runs the Web site HistoricProperties.com,which lists around 1,400 buildings on the market throughout the na- tion.

Homeowners have been able to formally identify their properties as historical since the National Register of Historic Places was created in 1966. The list, which today comprises of 1.5 million properties, recognizes structures important in American history, archeology, architecture, engineering or culture.

But as time passes and owners of older homes adapt them to fit their needs, the National Park Services receives fewer individual applications. Paul Lusignan, a historian at the agency that administers the program, says that, instead, they receive applications to consider entire neighborhoods. Districts now make up 15 percent of the listings, he says.

"As properties mature, neighbors see the value of preserving their neighborhoods," he adds.

Numerous studies have shown that historic districts contribute to the economic and cultural revitalization of a town. Historic designation raises property values in the area by a much as 20 percent, and the homes also sell faster than those without the distinction.

The investment, however, requires true commitment. Those interested in the idea should consider hiring a specialist in historic properties to do the inspection. It's easier when you know in advance what kind of work the house may require. Some special loans are available for major restoration work. Shop around for mortgage companies that deal with older properties.

In addition, it's worth checking with your state or local historic preservation office to see if any grants are offered for restoration costs. Historic homes also require special insurance.

Historic homeowners dedicated to preserving their old house also can benefit from the state and federal tax incentive programs if they hand over control of their facade to a historic trust. The goal is to ensure that the architectural integrity of a historic property's exterior is maintained. The incentives vary by state.

Income-producing homes are eligible for a tax credit of up to 20 percent of renovation costs, says Lusignan.

The potential for financial gains compensates for limitations that homeowners must adhere to once their home is within a historic district. For instance, changes to the facade must often receive approval by a local committee that may consider such issues as architectural compatibility and disturbance of historical characteristics.

"It's all done to help all homeowners in the district protect the value of their investment," Hinson says. The historic designation, however, does not protect or guarantee future preservations of structures.

Owners have no obligation to restore or even to maintain them. Lusignan says if a property is destroyed or altered without authorization, it loses its historic designation.

Districts are formed through consent, he says. If the majority of private property owners within a district object to the nomination, the application would not be approved.

Elizabeth Rosen, an architectural preservation consultant in Kansas City, Mo., says that most people who buy a home placed on the National Register know what they're getting into. They appreciate the characteristics of older homes. They like to live in town centers surrounded by mature greenery and reminders of days gone by. Historic districts also reflect the culture of a community.

Rosen knows it first hand. She owns a quaint 1912 Arts and Craft cottage in her hometown's historic district. Over the years, she's replaced the roof and parts of the exterior. She doesn't mind the extra work.

"When you own a home in a historic district, there is a feeling that you own something precious," she says.