Historic Renovation: Pitfalls and Strategies

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@Colette Major I can speak to points 1 and 2 a bit. I would strongly recommend working with a contractor familiar with the area (and ideally, the city rep you'll be dealing with). And even if they're familiar, I'd recommend double / triple checking and prices or delivery times on materials that need to be replaced.

We purchased and renovated a 3 family in a historic area. It turned out the windows we needed to replace were required to be both historically accurate to the area and fire rated. There were only 2 manufacturers in the country that could deliver what we were looking for. We ended up a couple of months over on the project and quite a few thousand over budget just waiting for those windows to arrive. 

It ended up being a great purchase overall and has performed very well, but it could have easily gone the other direction if our budgeting was tight.