Is Buying a Historic Southern Plantation a Good Move?

    Written by Family Video Coupon on March 17, 2016. Posted in Farm real estate

    , Luxury ranches, Ranch land

    Farm property

    Are you looking for southern plantations for sale? Having the opportunity to purchase one of the few southern plantations for sale puts you in an incredible position. It is not unusual to find southern plantations for sale that also have luxury ranch and farmland included with them

    , giving you workable land or a great opportunity to make income as an event venue. Many southern plantations for sale hold significant historic value, which comes with its own set of responsibilities. As such, it is a good idea to know what you’re getting yourself into before looking at southern plantations for sale.

    Do Your Research
    Purchasing a southern plantation that is historically significant impacts the price, and determines what you can do with it after you’ve taken ownership. Understanding historical significance of the property and area is important before you make the leap into ownership.

    Sometimes a southern plantation has historic value because of the original owner of the property, or an event that took place at it. Sometimes, a southern plantation has historic value because of the area it sits on, the architecture, and year it was built. A few good resources for learning that historic significance and background of the southern plantations for sale that you are looking at include:

    • Contact your municipal records agency to get a full account of the property’s deed trust, which will tell you about the original ownership and the date the home was built.
    • Look up the property on the National Register of Historic Places(NRHP). Keep in mind, just because a historic southern plantation is on the NRHP’s list, it does not mean that there a particular restrictions on what you can do with the property. You would need to check with the county that you live in to get a full understanding.
    • Research the address with the National Trust of Historic Preservation (NTHP).
    • Contact historical trust organizations or historic societies in your area.
    • Contact the appropriate municipal department responsible for historic districts in your area.

    The Benefits of Purchasing a Historic Southern Plantation
    There are several great reasons to own a historic southern plantation:

    • Many historic southern plantations for sale possess incredible character, beauty, and charm that you don’t find anywhere else.
    • Owning a home that has historic significance can be rewarding. The chance to contribute to keeping the a piece of American history preserved and assisting historians in the documentation of it is a neat opportunity.
    • Depending on the zoning ordinances in the area, you may be able to use it as an event venue for weddings or other occasions, especially if it sits on extensive land. Keep in mind that even if you are allowed to host special events at your historic southern plantation, restrictions because of his its historic status may ban you from retrofitting the property with the commercial kitchen for catering.
    • Depending on your home’s historic value and the area you live in, you may find significant tax benefits to owning and preserving a historic property.

    Drawbacks to Owning a Historic Southern Plantation
    There are a lot of incredible opportunities that come with purchasing a historic southern plantation, but you should also be fully aware of the disadvantages before you make the purchase:

    • Depending on the historic value of your property, you may be limited from making even minor cosmetic changes, such as painting the exterior. Major changes (even ones that are beneficial, like energy-efficient upgrades) to these home are often out of the question.
    • In some cases, the historic trust that manages the area you live in will require certain care-giving services be performed on your property, at your cost. For example, you might be required to use a specific landscaper to maintain historic look and feel of the area.
    • Older homes tend to require more upkeep. You would need to consider these higher ongoing costs when making the purchase, as well as the additional effort that goes into a high-maintenance property.
    • Sometimes historic southern plantations require expensive repairs and updates. This might include lead paint, asbestos, mold, or outdated plumbing that may need to be replaced altogether. For this reason, it is critical to get an extensive inspection before making the purchase.

    Do you have anything to add to our subject of buying a historic plantation? Please contribute in the comment section below.

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