Some owners of old buildings and houses often wonder if restoring their properties is worth it. In Virginia, the state encourages the preservation of historic structures as it enriches our lives in different ways. It keeps the connection between our heritage and us intact. Furthermore, it offers many economic benefits.
Historical restorations help preserve the heritage of the community, allowing future generations to understand and appreciate our roots. When structures are successfully restored, they can even boost the pride of the community. Additionally, if you’re property qualified for the state’s Historic Rehabilitation Tax Credit program, you may receive a 20% income tax credit. Some local government agencies also offer reduced property taxes to encourage property owners to restore their historic homes or buildings.
According to a study conducted by Virginia Commonwealth University in early 2014, restoring old buildings contributed about $3.9 billion to the state’s economy. The information used, which was between 1997 and 2013, also showed that rehabilitation projects generated about 31,000 part-time and full-time jobs and about $133 million in local and state tax revenues.
When planning to restore historical residential or commercial properties, make sure you’re working with licensed and trained contractors. Historical restorations, whether you’re dealing with the entire structure or just the roofing in Norfolk VA, require a specialized skill. Not all construction and remodeling companies are qualified to work on this type of project. You need to make sure that your contractors know the right materials to use and the historic methods to follow to maintain your property’s historical structure.
Fortunately, you don’t have to look too far to find a crew you can trust. We at The Roofing and Remodeling Company aren’t just trained to repair and replace your Norfolk roofing. We also specialize in preserving historical slate roofing and buildings. Our company has been in the industry since 1998. We have helped numerous homeowners and entrepreneurs maintain their homes and commercial buildings. Furthermore, we have restored many historical properties in Chesapeake, Hampton Roads, Newport News, Norfolk, and Virginia Beach.
Are you ready to bring your historical property back to life? Contact us to learn more about historical restorations. You may also fill out our contact form to get a free estimate.