subject: Tax Benefits Of Buying A Fq Story Historic Home [print this page] Buying an FQ story historic home has a number of advantages. Living in a piece of history can be very inspiring for the creative mindset. Often times, these homes come much cheaper than newer homes of the same square footage. You also get the knowledge that you are living in something that is truly bigger than yourself - a heritage perhaps. And even though it is the good ol' U. S. of A., there is still something pretty cool about feeling linked to nobility. But the best benefit for living in a FQ story historic home may be the tax benefits. See, the City of Phoenix provides tax relief to those, who move in to a home and seek out renovations.
The catch to doing renovations on a historic home is that you must maintain the same architectural styling and standards of the original. While you can add improvements, such as energy efficient windows and more insulation, cosmetic changes will have to reflect the old style. But if you buy a historic home to begin with, then you probably don't have any issues with this. After all, there are many homes out there that you would not have to do any upfront work on. But if you buy historic, then it stands to reason that there is something about it, which has captivated you, and Phoenix has made it possible for you to make that home the best it can be without emptying your wallet.
The great thing about renovating a historic home is that you are essentially preserving heritage without paying the same amount of money that you would if you were renovating a standard house. In addition to this, you are making it a more comfortable living environment than it was before and ensuring that it will remain functional for a number of years ahead. The memories that you can make in a historic home are unique and unforgettable and will likely lead to a greater appreciation for the past.
Through the Mills Act, select quality FQ historic homes have been set aside as large tax benefits for the interested buyer. Getting considered for one of these homes will require you to be actively supportive of the initiative on which the act was written. You cannot be sure of what tax loopholes will be available tomorrow, but today, the Mills Act is in effect, and it is there to help you and guide you. To assist, you need a quality real estate agent, who can spell out the details for you, so no obligation is missed and the home of yesterday that you purchase today will be the best that it can be tomorrow. That is the purpose of historic preservation.
