I personally can’t see any downside. You will have to maintain the property in original condition, from what I understand. Mostly from the outside, from what I gather. You can’t alter the home. But I think that is from the exterior. I could be mistaken. I haven’t thoroughly investigated. I personally think it’s great, especially since I love older homes. But the tax savings sometimes can easily be eaten in maintaining the place. For example, most older homes have wooden windows. You will never be able to put vinyl windows in. Little things like that.
I think the only downside in reselling, for example, is that not everyone likes older homes. Most people like new and modern. You know, like cars. There’s a group that likes classic cars and a group that enjoys the new, modern conveniences. Some people might find maintaining an older home a hassle. It does require someone to have an appreciation for it. Most people don’t want to be bothered. This would be a good poll question. I’m on it 🙂
Edit: I tried to start a poll and it’s not showing up in active topics.
