Date Archives: March 18th, 2020

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Buying a Historic Home

If you want a home filled with charm and lush with history, Maine has plenty of options for you. Historic homes do have a few needs that you may not face a more modern home. Before you start looking at Augusta homes for sale, here are a few things to consider when looking at antique homes in the area. 

  1. The Condition of the Home
    Since these homes are on the older side, they often require repairs to modernize the basic components (like the roof, septic tank, electrical wiring, plumbing, and heating system). These repairs can add up! Make sure to have a home inspection so that you understand the true, current condition of the home and know what items will require replacement in the future. 
  2. Your Ability to Obtain Financing
    If you need to finance your purchase of a historical home, know that it's harder to secure a loan for a property that requires a lot of repairs. Check out home loans that are specifically designed for properties that need a lot of renovations. These loan programs allow you to roll some of the costs of the home's renovation into your mortgage.

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