Periodically, I like to skim the news via the Internet to see what is being said about Real Estate; the market, market preparation, buying homes, etc. A visit to another site introduced an article speaking about Heritage Homes and the misconception many have with the word 'heritage' - believing that it applies to anything older than 60 years of age. This simply isn't the case.
"If a house is more than about 60 years old, people will refer to it as ‘heritage,’ regardless of how well it has been preserved or how much it has been altered over the years," says one West Side REALTOR® who specializes in heritage homes. He cautions buyers, "Heritage is not just about age, it’s about authenticity. The real value is in a home that has retained its original character, inside and out."
Most Lower Mainland municipalities have an official Heritage Register, an inventory of homes created by a team of historians and city planners. The Register lists buildings of special historical importance, along with those that best represent certain architectural styles. Older municipalities such as Vancouver, New Westminster, and North Vancouver have established these inventories decades ago and update them every few years. Other areas, such as Maple Ridge and Delta, have only recently completed inventories are in the process of creating a formal Heritage Register.
Yes, a Heritage Home can be a home older than 60 years old. Equally, there are many locations older still that have not been granted Heritage status, and many are not included in the official Heritage Register of the municipality.
Recent local-area meetings discussing the Heritage Planning for the City of Vancouver are attempting to bridge the gaps in the Heritage Register, and to identify other important criteria aside from physical structures as determining factors for Heritage planning. Some of these other things pertain to Arts, Culture, and other historical intangibles shaped by the people that built and lived in the communities.
What does this mean to you as a home-buyer looking at older properties, or as a home-owner now living in an older home not listed in the official Heritage Register? In the City of Vancouver, this initiative - also intended to bring the Official Register up-to-date - will likely see many properties not previously heritage, now becoming heritage homes. Once a home becomes a heritage home, the home-owner has additional criteria and consideration to meet with the municipality regarding any home improvement projects. On the up-side, the distinctive nature and status adds value to your property value.
