If you want to add a character home to your real estate holdings, Vancouver’s premier real estate agency, B & L Real Estate Group (604-307-9448), has the inside scoop on the heritage homes restoration market.
Character and heritage homes have immense intangible value, adding to the feeling and aesthetic of a neighborhood and community. However, as B & L Real Estate Group’s new market report advises you, they also have a very tangible, and growing, real estate worth.
Contributed by the agency’s head realtor, Kevin Lynch, the article details the recent measures that have been undertaken by the City of Vancouver in order to encourage the preservation and restoration of both heritage and character homes in famed historical sectors of the city like Kitsilano.
Go to https://www.bnlrealestate.com/blog/63643/city-of-vancouver-loves-heritage-and-character-homes to find out more.
The timing of the report coincides with the latest figures from Heritage British Columbia. According to their joint research with BC Assessment, over a six-year period, the value of designated heritage homes jumped by 78%, while the value of non-heritage homes increased by 48%.
Although both stark increases, reflecting one of the hottest eras in Vancouver real estate, B & L Real Estate Group believes that the writing is on the wall when it comes to the inherent value of heritage homes.
Adding to the character and charm of the city, the City of Vancouver is now mandating that, if you own a home completed before 1940, you must do a Character Merit Assessment before you conduct any renovation, construction or demolition projects.
This assessment evaluates the features of your property such as the iconic Vancouver pre-1940 cladding style, original open front entries, and other period details like decorative shingling and leaded glass bay windows.
Rather than being a limitation, Lynch suggests that attaining a designated heritage label or a character home status is highly beneficial for the real estate worth and enduring value of your property.
In particular, the report directs you to the city council’s Character Home Retention Incentives Program, which is of interest to any heritage homeowner or interested buyer, such as yourself.
Kevin Lynch is one half of the managing team at B & L Real Estate Group. Alongside co-founder Steve Birkic, the duo have over 55 years of combined real estate experience. The agency is proud to be a leading market voice in the competitive and fast-moving Vancouver real estate scene.
As Lynch was quoted in the new report, “Vancouver is now helping to keep its character homes from pending destruction by offering builders and buyers incentives to keep and restore them. Get in touch with our team today to see how we can advise you on the acquisition of a character or heritage home.”
B & L Real Estate Group is here to help you capitalize on the booming market for heritage and character homes.
Visit https://www.bnlrealestate.com/blog/63643/city-of-vancouver-loves-heritage-and-character-homes if you want to learn more about heritage incentives and requirements in Vancouver.
