If you've been searching the Ridgewood real estate market for a single-family home to live in, you've likely noticed the many historical homes on the market. While it seems like a historical home in Ridgewood may be accompanied by an endless cycle of updates, that's not always the case, and there are many positive aspects to owning a historic property.
Learn more about why you should buy a historic home in Ridgewood.
Become A Part of The Town's History
Ridgewood was established on November 20, 1894, and belongs to Bergen County which is one of the first four counties in the state. As such, you'll find that many of the historical homes in Ridgewood date back to the turn of the twentieth century and feature their own personal history rife with interesting residents and town figures who once lived there. If history is a passion of yours, living in your own slice of history can be very appealing. Visit the town records and see if you can learn more about your old home.
Beautiful, elegant, and visually striking, heritage homes can be some of the most expensive properties on the Ridgewood real estate market. After all, they are one-of-a-kind properties that often boast an interesting history. As such, the financial implications of owning a historic home in Ridgewood can be daunting. However, the government is aware of the fact that purchasing an older home generally means more costly repairs, updates, and complications, so to help offset these expenses, homeowners of historic homes will find a number of tax breaks are available to them. Given the historic property you want to purchase breaks a million dollars, this is especially appealing because in that case, you'll have to pay mansion tax as well, which constitutes 1% of the home sale value.
Modern day builders specialize in the cookie-cutter home. They buy expansive sheets of land and they populate them with variations of the same design. Houses that belong in these developments share similarities in building materials, design, and layout. For some home buyers, this is perfectly desirable.
However, there are others who have a strong desire to own a home unlike any other. It's hard to beat a historic home when it comes to the uniqueness of the property. Old homes were built to last, which is why many of them are still standing today. They were also built in a very different climate. For this reason, you'll often find numerous detailing touches that take more time to create than the average home builder invests today. In old homes stained glass feature windows, exceptional wood work, and custom designs were more common. In that regard, historic homes are unlike anything you'll find built today.
While a historic home can be more expensive than a typical home in Ridgewood, historic homes tend to hold their value much better than the average house. In fact, in most historic neighborhoods, the value of the entire neighborhood will continue to rise as the location becomes more and more desirable as city limits expand and your old house becomes more centrally located. As such, even though you'll invest more in a historic home, you'll often make much more on the sale of a historic home.
There's nothing like time to help trees reach taller and shrubs grow thicker. In this case, historic neighborhoods can't be beat. Mature landscaping lends to an unparalleled curb appeal. Deciduous trees can reach thirty or forty feet into the sky and shield your front porch from strong sunlight. They attract fleets of twittering birds and local wildlife. Wind rustles their leaves, and come fall they'll coat your yard in a myriad of yellow, orange, and red leaves.
Dense shrubs can give you a level of privacy when strategically placed along your fenceline or by the curb. If you love to garden or enjoy time on your porch sipping coffee and taking in the view, mature landscaping is a must.
While purchasing a historic home in Ridgewood is accompanied by a number of appealing and wonderful perks, it's also fair to say that buying an old home is not without risk and you'll want to get a home inspection. For more information on things to watch for when purchasing a historic home, read this blog post.
To browse historic Ridgewood real estate listings, contact Tarvin REALTORS®. With years of experience and an intimate knowledge of the local community, they can help you explore the market with confidence.