Harsh Realities for Those Who Buy Historic

¿ What do the guidelines cover? In many cases, only exterior changes are restricted. "You can't pop the roof," Metcalf said.

Windows are often a point of contention, said Nancy Metzger, who chairs the Capitol Hill Restoration Society's Historic Preservation Committee. "People don't see that as part of the historic fabric of the house because they look through them." Nonetheless, there are often rules covering windows.

Randolph said that very few of the restrictions for Old Town Alexandria apply to the interior, unless the specific property is under a historic easement.

Never assume that is the case, though. Always ask.

¿ What are the penalties for running afoul of the rules? In most cases, penalties are assessed because work was performed without the required permit. Homeowners can be fined or required to restore the property to its previous condition.

¿ What are the tax repercussions? Some historic districts are also special taxing districts. In other cases, historic district owners get tax benefits, especially for restoration work. If you're considering a fixer-upper, find out what tax breaks are available. Be aware that many of these programs come with associated easements, which limit future changes to the property.

¿ Can you afford the cost of ownership? Every house requires upkeep, but a home in a historic district has special challenges -- and expenses. Randolph, who has been selling real estate in Old Town Alexandria for 28 years, said these costs can be particularly difficult for retirees and others on fixed incomes.

Repairs and replacements are often custom jobs, and the materials required can be significantly more costly than current standards. Roof replacement is a big issue in Old Town, Randolph said. Asphalt shingles, even if they are on the house now, are not acceptable anymore. Instead, homeowners have to install wood shingles, standing-seam metal or slate. He has a client who is replacing the roof on one of his properties, a former single-family house now divided into five one-bedroom apartments. The estimated cost: $50,000 to $70,000.

But the cost of owning a historic home doesn't stop there. The age of these houses (and the fact that you're often restricted in upgrading the windows and doors) means they are often hard to heat and cool. Energy efficiency is an issue, Metcalf said. "If you looked at it with an infrared camera, it would be bright red."