According to the data, the average age of a home purchased by an American in 2024 reached 36 years. This raised the question of whether historic homes are becoming more popular with buyers. To find the answer, we talked to Chris Murphy, a real estate expert specializing in waterfront, second homes, and short-term rentals. He shared that interest in historic homes has been steady and is more visible in certain markets compared to a decade ago. This is not a universal trend, but buyers in established cities and older neighborhoods are clearly paying attention.
The main reason for this, according to Murphy, is the limited inventory of newer homes, which is frustrating many buyers. As a result, they’re broadening their search to include older properties with character and history. Additionally, there’s a shift in buyer mindset, as people are thinking more about long-term ownership and emotional value rather than just square footage. Historic homes offer a sense of place that newer construction often can’t replicate, making them a popular option. Plus, they can be about 15% cheaper than newer builds in some markets, further adding to their appeal.
The most attractive features of historic homes
According to our expert, one of the biggest draws of historic homes is their craftsmanship. Buyers consistently respond to original details like solid wood floors, handcrafted moldings, plaster walls, and built-ins, which reflect a level of labor and material quality that’s expensive to reproduce today. Many buyers see this as lasting value rather than just cosmetic appeal.
Another feature that resonates is architectural character. Things like high ceilings, large windows, and distinctive floor plans give historic homes a personality that feels unique. This especially appeals to people who like unique properties and want their house to stand out. Historic homes often deliver that authentic feel rather than a staged look. Neighborhood and location also play a key role, as historic homes are often found in walkable neighborhoods close to city centers, waterfronts, or long-established communities. Buyers appreciate the mature landscaping, proximity to local businesses, and the sense that the neighborhood has evolved naturally over time.
Things homebuyers should look for in historic homes
Although you might want to finalize the deal as soon as you find a historic home with beautiful details, our expert recommends taking the time to conduct your due diligence. Structural integrity should be at the top of the list, as a solid foundation, sound framing, and a roof in good condition matter far more than cosmetic upgrades. These elements are expensive to fix and directly affect long-term value. To ensure you get a decent return on investment, buyers should prioritize homes where major structural components have been maintained or responsibly repaired.
Updated systems are also important, as electrical, plumbing, and heating systems that have been modernized can reduce risk and future costs. Buyers should prioritize properties that blend historic charm with practical updates that meet current safety standards. Thoughtful renovations that respect the original character of the home can also add to the investment potential, especially when it comes to kitchens and bathrooms.
Pitfalls you should avoid when shopping for a historic home
Even though historic homes are often more beautiful and have more character than new constructions, it’s important to be realistic about your expectations. One common pitfall is underestimating maintenance and repair costs, as older homes can come with aging systems, hidden issues, or materials that require specialized care. Buyers should work with inspectors who have experience with historic properties to understand what’s original, what’s been updated, and what may need attention soon to prevent surprises.
Another issue is overlooking local regulations or historic designation rules, as some homes fall under preservation guidelines that restrict exterior changes or renovations. Buyers should research local ordinances early and confirm what is permitted before committing to a purchase. Financing can also be a challenge, as certain lenders may require additional documentation or repairs before closing. It’s important to work with professionals who specialize in older homes and to budget for regular maintenance, set aside reserves for future work, and learn about the home’s materials and systems.
