A heritage property is a building that resides in a heritage district or has been deemed a heritage structure by the local province or municipality. These structures tend to have some kind of deep historical or cultural ties to the area. These homes and buildings are called heritage properties so that they can be preserved as much as possible. This ensures that future generations can enjoy the architecture that would have otherwise been demolished and lost to time.
Why Is This Important to Me?
If you’re in the market to buy your future home, you should make sure the properties you’re eyeing are heritage or not. Remember that even though this will be your home, this is still a protected site. You can’t simply renovate it as you please.
This is also true for any repairs that need to be done down the line. You won’t be allowed to give your house a new paint job. If your whole street is a heritage district, you’ll stick out like a sore thumb if you do! If you’re looking for a place that you can mould into your dream home, you’re better off with a non-heritage home.
On the other hand, if you enjoy the thought of living in a home with a long-standing history, then owning a heritage property is a huge bonus. You will have to research how to properly restore your property, but it’ll be worth it. There is something to be said about the use of exposed terracotta brick in Victorian-style architecture. Repairing damages, especially to the exterior of your home, will be more of a restoration job. You’ll have to match the new brick, wood, or grout to the rest of the house as best as you can.
How Can I Tell If Certain Properties are Heritage?
Your realtor should inform you of the status of the home you’re interested in buying. The keyword here is “should,” as more often than not, they don’t. This is likely due to their lack of research rather than an intent to deceive you. Heritage properties aren’t always obvious to the naked eye. Luckily, Sold With Presta is knowledgeable in things like this, so rest assured that you’ll be informed whether a property is heritage or not right away.
You can also do your own research. Government websites such as toronto.ca have databases you can search to see if your property is considered heritage. Just type in your address in their search engine to find out. You can also look through this Heritage Register map for the property you’re interested in. There are plenty of ways to find out the heritage status of a piece of property or district.
What If I Already Bought a Heritage Property?
When you’ve already bought a heritage property without knowing that it is, then you can’t do anything about it. If that’s your ideal aesthetic, congratulations! If not, you can sue on the basis that this information was withheld from you, but that is a time-consuming and costly process. Your other option is to find another home.
It’s important to do as much research about a house before buying it as it is a huge commitment. Otherwise, you could experience extreme buyer’s regret. Make sure you know if the house you’re buying is considered a heritage property so you know exactly what you’re getting into. Make use of the tools listed above and deal with knowledgeable real estate agents.
Intending to work with the top real estate agents in Toronto? Contact Sold With Presta today! We specialize in real estate in both the residential and commercial sense. Rest assured that we’ll disclose all the information you need before buying a property.