6 Tips to

RECLAIM A VACANT HOUSE

1. Consider what

you would for a

typical purchase.Delve into the neighborhood

culture; proximity to work, school,

and shopping; and current and

future size of your household.

2. Know what will

need to be done

for a rehab

purchase.Ask questions: How much work will

need to be done to make it

habitable? How much cash will you

need upfront? Can you live in the

house while work is being done?

What will the schedule for design,

removals, approvals, and

construction look like?

3. Check out

financial

incentives.Owning a historic house qualifies

you for several financial incentives

that could significantly reduce your

financial burden. Consult your State

Historic Preservation Office, and

look into grants your city offers.

4. There will be a lot

of people involved.Your “team” could include architects,

engineers, contractors, real estate

agents, home inspectors, historic

preservation organizations, attorneys,

accountants, and estimators.

5. Attend a class.If this is the first property you’ve

owned, or you want to

reacquaint yourself with the

financial or maintenance side,

nonprofit housing organizations

or housing development

authorities offer classes in basic

home ownership skills.

6. Find a vacant

property that fits

your criteria.Look for Land Bank signs, For Sale

signs, foreclosure notices, or building

permits. Use the internet to find MLS

listings and scout real estate websites

like Zillow. Drive around

neighborhoods. Check out bank

foreclosure lists, and visit your City

Assessors Office as well as city or

county auctions.

The National Trust for Historic Preservation works to save America’s

historic places. Preservation Tips & Tools helps others do the same

in their own communities.

For more information, visit SavingPlaces.org.

Photo credits: Breathing Lights.