Do You Want a Vintage Home in New Hampshire
Posted 10-27-2008 at 01:13 PM by cbraxton
Would you like a vintage colonial era home here in New Hampshire? Here are a few things to keep in mind as you shop. Antique homes are especially tricky since the average time on the market is two and half years or more. So, do not penalize a seller just because the home has not sold.
As with other real estate location is an important factor. Generally, older homes are built close to the road and any acreage is “out back” so you will likely have neighbors close by on either side and plenty of private behind the home. When you find a vintage home with a lot of road frontage, say over 200 feet, that adds to value. However, do not discount the home without a lot of acreage as there may be arrangements for pasture, etc. with the abutters.
The other factors for vintage homes are the appropriateness of any renovations and the overall condition of the home relative to other vintage homes. Do not come to a vintage home expecting construction features of a 1990s building. Most vintage homes in the rural areas are post and beam structures. This type of construction offers a lot of flexibility for renovation as the walls are not load bearing.
You will typically find the house connected to the barn by a so-called shed. This part of the structure may be modernized or rustic. Do not expect the shed to be a modern structure. Barns can be terrific spaces if they have a solid foundation, good timbers and tight roof. So a barn that has a good roof and is standing square is a pretty big plus.
When the market turned, fixer uppers were hurt the most. Folks do not foresee appreciation in the near term so they are cautious about spending renovation cash today on top of their purchase.
Recognize that vintage homes are experiencing a triple whammy today: (1) less market demand in general, fewer buyers, (2) less willingness to spend cash on real estate renovations due to uncertainty about total project cost and future return, and (3) energy cost concerns of the older home. The market has not sorted out what it means all in all, but longer time on the market and lower prices are probably the outlook for the future.
As with other real estate location is an important factor. Generally, older homes are built close to the road and any acreage is “out back” so you will likely have neighbors close by on either side and plenty of private behind the home. When you find a vintage home with a lot of road frontage, say over 200 feet, that adds to value. However, do not discount the home without a lot of acreage as there may be arrangements for pasture, etc. with the abutters.
The other factors for vintage homes are the appropriateness of any renovations and the overall condition of the home relative to other vintage homes. Do not come to a vintage home expecting construction features of a 1990s building. Most vintage homes in the rural areas are post and beam structures. This type of construction offers a lot of flexibility for renovation as the walls are not load bearing.
You will typically find the house connected to the barn by a so-called shed. This part of the structure may be modernized or rustic. Do not expect the shed to be a modern structure. Barns can be terrific spaces if they have a solid foundation, good timbers and tight roof. So a barn that has a good roof and is standing square is a pretty big plus.
When the market turned, fixer uppers were hurt the most. Folks do not foresee appreciation in the near term so they are cautious about spending renovation cash today on top of their purchase.
Recognize that vintage homes are experiencing a triple whammy today: (1) less market demand in general, fewer buyers, (2) less willingness to spend cash on real estate renovations due to uncertainty about total project cost and future return, and (3) energy cost concerns of the older home. The market has not sorted out what it means all in all, but longer time on the market and lower prices are probably the outlook for the future.
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