Owning a property regardless if it's residential or commercial can really be fulfilling. However, aside from owning a simple piece of property, you could actually choose to own one that has a strong connection with history. Yes, I am talking about owning a property located within a historic district.
What is a historic district in the first place? According to redfin, a historic district "is an area that has been deemed historically or architecturally significant, in this case by the county or city government, usually with approval from (or at the request of) local residents. The designation is intended to preserve the character of the area, and it prevents homeowners from making alterations to the front exterior of the homes."
The idea may sound enticing and more than fulfilling especially for individuals with strong inclination with history and heritage. However, before you call your real estate agent for any plans of purchase, you should first understand that buying a home or piece of property in a historic district may come with some limitations. A good example of it would be the rehab procedure. If ever you would be purchasing a home at the said area, then changes with the house would be very meticulous and limited. Changing a door or even a simple window would require some replacements to have some historical relevance. That is why should consult the rules and regulations before buying and most especially in changing anything on the said property.
Despite the said restrictions and regulations to be applied, owning a piece of history within a historic district would largely be beneficial for you. Redfin cited that owning one would actually take away the worry of a "home being torn down and new construction being built in it its place." Aside from that you could also expect a higher rate in terms of property appreciation. Underneath these practicalities, owning a property in a historic district would also allow you to experience a strong sense of community as redfin posited.
