American Real Estate Market Essay

American Real Estate Market Essay

Length: 1068 words (3.1 double-spaced pages)

Rating: Strong Essays

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The current state of the housing market has changed the nature of $150,000; fifteen years ago it was not enough, while today the sum huddles in some form of realty limbo. The American real estate market has gone from a period of ostentatious acquisition to quiet overly prudent waiting. Yet despite market uncertainty, property remains the long investment, continually proving its worth through the centuries. Achieving the maximum return on such a limited investment will require ingenuity, diligence and civic-minded creativity.

The purchase must provide the most opportunities for return possible, which is why the restoration of a historic home/building is the best option. Within every city there are many historic properties waiting restoration. Because of this the city and federal governments offer tax breaks, restoration grants and a host of other assistance programs designed to restore landmarks to their original splendor. The preservation of these buildings lends gravitas to the city, bolstering civic pride and in some cases new revenue generating tourist attractions. Historic site restoration is a lucrative, albeit changeling process that can offer satisfaction personally, monetarily and publicly. But it is not simple.

Historic restoration requires a detail-oriented mind possessing a vast reserve of patience and organizing ability. It is important to remember that you are not just renovating a building; you are returning it to its original condition, the state by which its historic significance is predicated upon. It is an archaeological enterprise and ideally you are returning the building to that purpose, either continuing its original work plan or demonstrating that purpose for the people of the city and tourists alik...


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5 Apply for historic restoration grant
6 Apply for an easement with the help of the State Historic Preservation Office
7 Determine the best contractor for the job
8 With the contractor plan every step of the construction as well as the timeline/deadline for completion.
9 Procure the necessary supplies and tools specific to the project
10 Patience, patience and patience
11 Upon completion place the historical marker

The first seven steps are expensive only in time but they are equally important. Failure to plan properly is the doom of a restoration project. Attention to due diligence and detail are of more value than money, yet money is important. The potential for monetary gain is high, but not certain. What is certain is that this is more than a simple land buy, it is the fulfillment of the American dream: achieving success and then sharing it.

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