Buying A Heritage Home
Heritage homes are charming and full of character. They are generally very popular as people love the idea of owning a piece of history. However, being a custodian to an historic heritage house has its pros as well as cons. Here are somethings you should consider when buying a heritage home.
Is The Home Truly A Heritage Home?
Just because a home looks old and beautiful does not necessarily make it one that was built in the 19th century. Working with a seasoned real estate agent, they will be able to check the local municipal register and determine if that home, or any homes in your targeted neighbourhood are culturally valuable. The register may also provide a statement that explains the cultural heritage value of the property – such as describing which parts of the home are genuine historical attributes.
What Condition Is The Heritage Home?
Buying a heritage home means buying a lifetime of history – including any shoddy repairs that have occurred along the way. Unfortunately, the high building and safety standards that we use today in building new homes did not exist a hundred years ago. Therefore, it is imperative that you reach out to a home inspector or specialist to ensure that your heating, electrical and plumbing are in good order. Also, due to the age of the home, you might want to also have the home’s structural integrity assessed.
What Am I Comfortable Paying For Home Insurance?
Due to the different safety and building standards, and extended wear and tear over the years, heritage homes tend to have more expensive insurance and maintenance costs. For some, this is absolutely fine as it is a labour of love. For others, they might want the look of an old home, without the financial responsibility that comes with it.
How Much Do I Want To Customize My Home?
Some people love the idea of buying a home, restoring it and renovating from scratch to make it their own. It’s one of the great advantages to buying a freehold house over a condo or leasehold townhouse. However, a heritage home will not afford you free reign to update every aspect of your home. There will likely be restrictions that govern when design or architectural changes you can make. Hiring a contractor who has experience with heritage homes is key here. They will be able to easily access the expertise and non-standard materials that you will likely need to customize your heritage home into the home of your dreams. Speaking with your contractor and your real estate agent are truly key here, as they will be able to tell you what is allowed under municipal bylaws, as well as what limitations you have when it comes to renovating.
Toronto Heritage Homes
Buying a heritage home in Toronto is buying a bit of Ontario’s history. Your home will be eye-catching, with a unique design and rich character. Yes, there are some costs attached to it that you might not have thought of. But if you would like to better learn if buying a heritage home is right for you, please reach out to me here. I would love to help you start the next chapter of your life on the right foot.
