If you are a lover of historic homes and have a passion for restoration projects, then this Indiana fixer-upper house is just the opportunity you’ve been waiting for. Bloomington Restorations, Inc., a nonprofit group dedicated to preserving historical properties, is seeking a rehabber to bring this charming home back to its original glory.
Located in a quaint neighborhood, this house boasts a rich history and is brimming with potential. However, it needs someone with a vision and the necessary resources to undertake a complete renovation. The exterior of the property is subject to historic preservation covenants and restrictions, ensuring that the architectural integrity of the home is maintained. This commitment to preservation is a testament to the organization’s dedication to preserving the character of the community.
Inside, the house is a blank canvas waiting for your creative touch. The property has been completely gutted, allowing for endless possibilities when it comes to reconfiguring the space. Whether you envision a spacious open floor plan or a more traditional layout, this house offers the flexibility to bring your dream home to life.
It’s important to note that cash or renovation financing is required for the purchase of this property. The extensive renovation required means that traditional mortgage options may not be available. However, this also presents an opportunity to tap into federal or state tax credits. Owner occupants or those planning to use the property for income-producing purposes may be eligible for tax credits of up to 20% of the rehabilitation costs. These incentives can significantly offset the financial investment required for the restoration.
While there are no restrictions on the resale of the property, the historic preservation covenants for the exterior will remain in place. This ensures that future owners will continue to honor the historical significance of the home, preserving its unique charm for generations to come.
Taking on a historic preservation rehab project is not for the faint of heart, but for those with a passion for history and a desire to breathe new life into an old gem, the rewards are immeasurable. This Indiana fixer-upper house offers the opportunity to not only create your dream home but also contribute to the preservation of a piece of local history.
If you are up for the challenge and have the resources to tackle this project, Bloomington Restorations, Inc. invites you to take a closer look at this historic property. With their support and your dedication, this house has the potential to once again become a beloved home in the community.
122 S Sale Street, Ellettsville, IN 47429