4 Things to love about historic Homes in Rochester MN
THE BENEFITS
Are you thinking about moving to Rochester MN and buying a historic or older home in the Pill Hill Neighborhood? You could write an entire book about older homes and their pros and cons but I’m just going to focus on the benefits of them here. However, if you do plan on buying a historic home, I highly encourage you to do your research just so you’re fully informed before making your decision.
Benefit 1: The beauty is in the details
Love them or hate them, there is no denying that these older homes in Rochester’s Historic Southwest are filled with character. Older homes have a history and tell the story of the way life used to be, when ‘Med City’ was once just a small town. If you live in one of these homes or plan to buy one, you know what we’re talking about. Some of these homes have the most beautiful hardwood floors (sometimes covered with the ugliest carpeting - if you need help figuring out what’s underneath your carpets, please let us know). Hardwood floors are not the only gems waiting to be discovered. Many have marble entryways, beautifully designed built-ins, architectural details on the façade and intricate crown molding throughout the home. The level of skill and craftsmanship can be breathtaking. Our first home, located at the bottom of Pill Hill was built in the 1940s with lots of built-in bookshelves to house our travel treasures and beloved books. When we eventually moved to our current home (built in 2001), we were absolutely stunned to find that in our new home there was only one small bookshelf in the entire house!
Benefit 2: Individuality
Older homes were built with individuals in mind. Rarely do you find two that are alike which can often happen in new construction developments (They have their own benefits - See link below to discover those). There used to be a commitment to architectural individuality, which is what gives older homes their true charm. By simply visiting a few of these Historic Pill hill homes together you will quickly get a feel for the style and needs of the families that ones lived there.
Benefit 3: Location, Location, Location
Those that love old homes are often drawn to more than just the house and its character. Rochester Minnesota’s Historic Pill Hill neighborhood is located close to downtown cutting down significantly on commute time for both work and play. The streets typically have gorgeous, mature trees, established parks, and community green spaces. Often these older neighborhoods have a strong sense of community and are easy to walk and explore.
Benefit 4: Return on your Investment
Let’s talk about investments for a minute. Buying an older home may require you to upgrade the electrical, plumbing, roof, and windows over time. With these upgrades and proximity to downtown, your spruced up older home will potentially have great resale value, which is another benefit worth considering! Another consideration is that in some cases, older homes can be less expensive than new builds initially. This lower upfront cost may suit your current financial situation, allowing you to space out your renovations, upgrades, and personal touches throughout your ownership.
Historic homes take on another level of care and responsibility. These are part of the history of the town and as such there are covenants and rules regarding what can and cannot be done to the house. Preserving the history and style of the home is important. Here is a link to an article written by RE/MAX that specifically talks about Historic Homes.
Have you heard About Physician Assisted Loans?
Many young families moving to the Mayo Clinic for residency or fellowship can avail of special types of physical loans to get them into these historic homes early in their careers. Some of these loans are also reserved for Mayo Clinic staff who are not directly in the medical field so please reach out to learn more about these special loan programs to see if you qualify!
Benefits of New construction!
Sandra’s Minor Wiring Issue…
Owning an old home comes with more responsibilities than your typical new build. What you gain in convenience of being close to Rochester MN major employers like the Mayo Clinic and downtown you can lose on having to do more frequent maintenance and upkeep on an older home. There is always something to do and it is rarely an easy fix. When I needed to replace a fan in our bedroom, the instructions in the new box made it seem so simple. There was going to be a red wire, a white wire, and a black wire. However, when I took our old fan off, I discovered not three but eight wires including a purple one!
If you run into similar issues, just drop us a line - We’re happy to connect you with experts who can pop by to help out!
