The US is full of historic buildings that currently sit empty. The thought of renovating one of these buildings can be exciting and daunting at the same time. There are a few steps that you can take to set yourself up for a successful project.
1. Hire a professional team with experience in historic renovations. Having a team on your side with experience in this type of renovation can be a huge help. Hiring an architect should be one of your first steps. An architect, like us here at Designform can help you to assemble a team of engineers and contractors with experience in historic renovations.
2. An experienced Geotech engineer will need to inspect and test for hazardous materials such as lead paint and asbestos. A Structural engineer will also need to assess the structure to ensure the stability of the building.
3. Research the building’s history and the historical regulations and guidelines put in place by the government and state. Certain building features may be required to remain the same or be restored to the original design.
4. Have a contingency in your budget. When working to renovate an existing building you may encounter more pre-existing problems than expected.
5. Seek tax credits for your historic renovation. Preservation projects can often qualify for various tax credits and incentives aimed at encouraging the restoration and maintenance of historic buildings. These tax credits can significantly offset the costs associated with renovating a historic property, making it more financially feasible for property owners. By taking advantage of these tax credits, not only can you save money on your renovation project, but you can also contribute to the preservation of your community's architectural heritage. It's important to research and understand the specific tax credits available in your area and ensure that your renovation project meets all the necessary criteria to qualify for these incentives.
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