As a once young bushy tailed and bright eyed architect (read - idealistic and inexperienced), I was asked to participate on a panel by the Mayor of my town (Chatham, NJ) to scribe a Historic Preservation Ordinance which then led to a Commission, and years later the Chair... and several years later less bushy eyed (did you know you can trim eyebrows? I didn't)  I did the same in my new town called Westfield, NJ.  In both locations I bought "historic homes" which typically means it is at least 50 years old (the Westfield house was orginally built in 1790 - not a level floor in the place) and has some type of historical significance, be it an event (apparently Washington slept around in northern New Jersey) or a unique architectural style or qualities.   Anyway if the phrase "but is has such POTENTIAL" is ever part of the purchasing banter, and unless you have more money than the Pope and more time than Yoda, RUN do not walk to the newest subdivision you can find.  Yes restoring a historic home can be wonderfully rewarding, but it does take forever, and if you are of the "do it right or don't do it at all school" you will find more skeletons in the walls, floors, foundations, attics (actually found a cast iron claw foot tub - not sure how it made it to the attic, as it must have weighed 200 pounds!)   I'd have to agree with some of your friends above, and find a handsome, charming carpenter, and let him make you jewlery boxes and furniture for a newer home so he's not too busy or tired to keep you otherwise happy!