Now that the Holidays have subsided I have had some time to sit, reflect, and compose some words to update you all on what has been happening and to review how far we’ve come.
It has been one year since I first saw my special little house in person…January 12, 2014 to be exact. It actually took Rome and I a few weeks to get the showing arranged, as the seller had delisted the house after it struggled to sell, but after several phone calls and rescheduled meetings, we got in. Looking back at some records, I had actually begun researching the house’s history right around New Years, so I guess I have known her for little over a year now.
After months of various set backs on both the seller’s and my side, I closed with keys in hand on May 9, 2014. The summer and fall were a blur of activity with painting walls and ceilings in the majority of the rooms (still have the master bedroom, bathroom, and kitchen left), landscaping, freaking out over and then repairing water damage, refinishing the hardwood floors, dumpster diving (picking up off the curb) for furniture, rewiring and cleaning light fixtures, and then moving in. Throughout all this activity I started to get to know my neighbors much better Continue reading
As I mentioned in the last post, I had some visitors over to see the house in the hopes of pursuing listing on the National Register of Historic Places. You might be asking why…so I’ll tell you.
The National Register of Historic Places is the federal list of districts, sites, buildings, and structures deemed worthy of preservation. Established in 1966 as part of the National Historic Preservation Act, the register is an honorary distinction that does NOT prohibit a property owner from altering their property in any way they see fit (including demolition). What it does protect is any listed property from being altered or adversely affected by any project that utilizes federal funds without due-process and oversight from the State Historic Preservation Office and National Park Service. Also, your property does not have to be a building of national significance, instead the whole goal of the register is to instill pride and spread knowledge of communities’ cultural heritage at a local level. Where it gets more enticing are the Rehabilitation Tax Credits offered at the State and Federal levels. The rehabilitation tax credits seek to incentivize the revitalization of historic properties and communities. In New York State the combined tax credits available for the rehabilitation of income producing properties that are listed on the National Register is a whopping 40% of the construction costs. This rehabilitation tax credit system is one of only a few government tax incentive programs that actually nets a significant return on investment, but don’t take my word for it, check out what others more knowledgeable than me have proven about it.