Photo: Kenneth Keifer (Shutterstock)
Spending so much time at home during the pandemic has caused many people to rethink how and where they live. It can be hard to justify the high cost of renting a small apartment in a city when most of the attractive parts of city life (bars, restaurants, museums, drag shows, socializing in general, etc.) are off the table.
Unfortunately, not everyone has the money – or the ability to muster the time and effort – to pack, move to the country, then buy an old house and lovingly restore it. However, if you have the opportunity to invest the time and effort into restoring an older home to its original splendor, you might be interested in becoming a home curator.
In one Contribution to The Escape Home newsletter, Danielle Hyams explains what this arrangement entails, including the cost of living on a property that is often advertised as “rent free”.
What are Resident Curator Programs?
Offered primarily in eastern states like Massachusetts, Connecticut, Vermont, Delaware, Virginia, and Maryland, resident curator programs are public-private partnerships that aim to preserve historic homes and buildings that are unlikely to be eligible for restoration would receive the necessary funds and would otherwise be left empty.
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“The programs work in such a way that local curators – who can be individuals or commercial and non-profit organizations – receive a long-term lease on a publicly owned historic building in exchange for the restoration of the property and ongoing maintenance.” Hyams writes.
Is it really “rent-free” living?
Although many people are drawn to the idea of rent-free living (or low rent payments), Hymans emphasizes that there is a cost to participating in resident curator programs. This is also something that varies depending on the location of the property.
For example, Massachusetts homes have leases between 10 and 50 years, during which time resident single-family home curators typically spend between about $ 500,000 and $ 1 million on restoration and upkeep. In Virginia, where leases range from 10 to 20 years, resident curators spend an estimated $ 150,000 to $ 400,000. Hyman reports.
While the on-site curator programs may not be feasible for many people, they provide once-in-a-lifetime opportunities for those interested in preserving historic buildings for future generations.
