This Old House… A Look at Historic Homes

 

While antique homes are classic here in New England, lending charm and a sense of history to our towns, many buyers have concerns about the resale value and liquidity of older homes.  With demand down and interest in new construction up, you’d think buying an antique could be risky business.

But consider this…  While the antique properties market may be limited in terms of buyers, the inventory is also limited, and always will be.  And that keeps the market in balance…

The buyers who are drawn to antiques are drawn to them because they love them.  It’s an emotional connection… and an emotional purchase… and there will always be a market.  There will always be those who are fascinated by the prospect of restoration and of contributing to the fabric of the community.  And there are those who believe that the past should remain a part of the present picture.

The good news is, over the past two years, we’ve seen thirty sales of antique homes…  and none at what would be considered distressed prices.  While market dynamics have changed and prices overall have declined, antique homes are holding their own.

I wouldn’t say they command a premium… they don’t… but if they are purchased at market value, taking into consideration any deferred maintenance required to bring them into good repair, a buyer need not worry about the future value.

Decades down the road the vintage home will still be an original… an antique with character… and not just “this old house”.  And decades down the road there will still most likely be the buyer who loves the sense of history…  ready, willing and able to carry on the tradition.