Government incentives to restore old homes?

gamecock43May 24, 2008

Ok guys, I have decided that I will be buying an old victorian that will need renovation and restore work. I am interested in collecting information about government grants or special loans that would be available to me. Some websits talk about government incentives, tax breaks or special mortgages available to get $$ to do the work if I abide by historical standard rules, but then everything gets vauge as to where/what/how to get these incentives. If it helps, I will be a first time homebuyer in the city of Savannah, GA. Can anyone point me in any directions?

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Carol_from_ny

Think long and hard AND talk to historic home owners in your area....folks who own old homes love to talk about them to anyone including strangers.......before you decide to go down this route.
Historical Standards is a loose term. Sometimes when you get into exactly what it means where you live you find it's just something you can not live with.
It can decide for you everything from the color of the house to what kind of windows you can use to whether or not you can add on to your home or even if a patio is proper.

I'd start with the phone book, historical societies.

    Bookmark   May 24, 2008 at 9:39PM
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sombreuil_mongrel

People to talk to:
First, if your house is already on a local, state or national register of historic places, you already have a good start at finding out if help is available. Then, talk to the State Historic Preservation Office, they will be able to direct you to federal and state incentives, as that office has the duty of administering those programs. Then, talk to your local organization to find out if there is a low-interest revolving loan program, grants, or even just a list of vetted craftspeople who work on old buildings with understanding and sensitivity.
Get to know your neighbors who have similar goals, and if there is no local grass-roots preservation group, start one!
Casey

    Bookmark   May 25, 2008 at 9:06AM
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gamecock43

Thank you guys!
I have been doing research and found a tax break available that sounds somewhat beurocratic but worthwhile, and a construction loan that does not seem like a good deal. I plan to camp out at the historic society also, and walk around to meet neighbors who have already started restoration projects. All very good ideas. I'm anxious to get started.

    Bookmark   May 25, 2008 at 10:33AM
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