With its gorgeous architecture (largely untouched by the Civil War), shaded cobblestone streets, and unique layout around 24 squares, Historic Savannah is a neighborhood unlike any other in America. Admittedly, it’s also one of Savannah’s most coveted neighborhoods for these and other reasons. That said, given the age of so many of the buildings here and the property values, if you’re thinking of buying a home here, you want to go into the process well informed and with your eyes open. Here are some common-sense tips for buying a home in Historic Savannah.
Determine your budget
Historic homes are rich in charm, but they can also be costly to maintain—and with property values spiking in this neighborhood, you can expect to pay a healthy investment for most properties here, anywhere from the mid-$300s for a “fixer-upper” to upwards of $3 million for a larger restored home on the more popular streets.
You’ll need to evaluate not just how much home you can afford now, but how much you are willing to invest going forward. Restored homes cost more upfront but may require fewer maintenance costs for at least a few years. Homes in need of repair are more affordable but will likely require an ongoing financial commitment. Prepare yourself financially so you won’t be caught off guard.
Don’t forget the property inspection
No matter how a particular home wows you, always get a thorough home inspection done before signing on the dotted line. Older homes can be full of unexpected and unwanted surprises. Not all are deal-breakers, of course, but you want to go into the deal with your eyes open. Remember, if a home has problems, they become your problems as soon as you close on it. Make sure you hire a reliable inspector, and make sure you’re okay with what he/she finds. If not, negotiate a solution with the owner or keep looking.
These cautions aside, Historic Savannah is a neighborhood filled with beauty, charm and history — all great reasons why so many people are clamoring to live here. Once you’ve counted the cost and are satisfied with the home inspection, you’ll be well on your way to enjoying all that this amazing neighborhood has to offer. To learn more, call Lufburrow Realty at (912) 355-6562.