Although the history of Irvine dates back to the late 19th century, the residential development that transformed this former agricultural region into the first American planned city did not start in earnest until the late 1960s. As a result, historic real estate in Irvine, CA, is mostly limited to California ranch-style homes and other residential structures less than five decades old.
According to the criteria observed by the National Trust for Historic Preservation, a residential property can be considered historic if it has been around for at least 50 years without major renovations that have altered its original appearance. To this effect, the real estate in the earliest villages developed in Irvine will soon be considered historic.
If you are looking at Irvine homes for sale and are thinking about buying a historic property, here are seven considerations you should keep in mind.
1. Historic Properties Should Be Registered
If you are specifically looking for historic properties in Irvine, you’ll want to start your search at the National Register of Historic Places. You do not have to limit your queries to an exact property. Instead, look for places that have already been registered and get an idea of the historic value you should be looking for.
2. Former Homes of Celebrities Are Sometimes Considered Historic
A home where a celebrity was raised may also qualify as a historic property one day, which is known as historical significance in lieu of age. Examples in Irvine may include the homes of Ezra Klein, Washington Post political columnist, Zack de la Rocha, vocalist of Rage Against the Machine, and Dita von Teese, burlesque dancer and model.
3. Registered Historic Properties Tend to Sell for Higher
Properties that have been entered into the historic register may be listed at higher prices. The opposite will apply to properties that have historic value but have not yet been registered. Although the City of Irvine does not yet offer financial incentives to owners of historic homes, this could change in the future.
4. The Cost of Historic PreservationShould Be Considered
If you want your property to remain on the historic register, you must adhere to certain preservation guidelines, which may include hiring specialized contractors, restoration firms, and landscapers. You may even be required by municipal code to preserve the historic condition of your home, which could entail a higher cost.
5. Historic Homes Attract Public Attention
The historic significance of a home may attract architects, historians, and tourists who want to learn more about the life of a celebrity or about a period of Irvine’s history. If you want absolute privacy, a historic property may not be for you.
6. Historic Homes Are Typically Good Investments
In some cases, historic properties can be sold to preservation societies or museums for a nice profit. In general, historic homes are good investments, but only if adequately preserved and retrofitted to preserve their significance.
7. There May Be Limitations in Structural Changes
In some cases, a home in the historic register may be subject to municipal codes that prevent alterations or remodeling. This detail could be an issue for a homeowner who wants to make structural changes such as adding a new room or installing a modern roof.
Even if you’re not interested in historic properties, Irvine, CA, is an amazing place to live. From Great Park to University Town Center, Irvine real estate has become a hot commodity. If you want to find your ideal home, make sure you’re working with the trusted agents at OC Residential. Give us a call today at 6714-454-6304 to schedule an appointment.