It looks like homeowners in Old Allentown did more than buy attractive homes: they made smart investments.Some good news for people who own historic buildings, be it a home or a commercial property. I've stumbled across economic impact studies focusing on how historic districts improve property values and sales prices in South Carolina, Texas, Georgia and New York City. Some of the impact is small, with increases coming in around 10%. Others are dramatic, with increases that exceeded 50%.
According to a study of South Carolina historic districts, "Local historic districts create a win-win situation for homeowners and the community:
--Current owners can sell their houses for higher prices or make use of their increased equity
--New homeowners can protect their investments in their houses and enjoy greaer prices gains, and
--The community strengthens its tax base
For more information on the economic impact of historic districts and property values, visit the http://www.achp.gov/economic-propertyvalues.html Advisory Council on Historic Preservation
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