Contributed by CEO of B & L Real Estate Group, and Realtor, Kevin Lynch, the report 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.
More details can be found at https://www.bnlrealestate.com/blog/63643/city-of-vancouver-loves-heritage-and-character-homes
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 owners of all homes completed before 1940 must do a Character Merit Assessment before any renovation, construction, or demolition projects are conducted.
This assessment evaluates the features of a 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 a property.
In particular, the report directs readers to the city council’s Character Home Retention Incentives Program, which is of interest to any heritage homeowner or interested buyer.
Kevin Lynch is one half of the managing team at B & L Real Estate Group. Alongside co-founder Steve Birkic, the duo has 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.”
More information is available at https://www.bnlrealestate.com/blog/63643/city-of-vancouver-loves-heritage-and-character-homes
B & L Real Estate Group
B & L Real Estate Group
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