- Joined
- Dec 5, 2007
- Messages
- 2,880
Hello Everyone,
I wanted to ask if the zoning "Heritage Residential (HR)" affects your purchasing decision? If yes, do you see it as an advantage or disadvantage compared to a regular non-heritage residential zoning?
The property is a 100 years old but please disregard the property age or condition, the question is regarding the zoning itself and any issue you see as an owner with a property defined as "Heritage Residential (HR)" compared to non-HR properties.
What confuses me a little is that on one hand there are some researches showing HR properties appreciate more/faster. On the other hand, if I understand the definition correctly, rebuilding such a property by a developer in the future (whether required due to condition or initiated by owner) might cost much more due to the city requirements to comply with HR zoning requirements - unique architecture, etc..(?)
Thanks,
Neil
I wanted to ask if the zoning "Heritage Residential (HR)" affects your purchasing decision? If yes, do you see it as an advantage or disadvantage compared to a regular non-heritage residential zoning?
The property is a 100 years old but please disregard the property age or condition, the question is regarding the zoning itself and any issue you see as an owner with a property defined as "Heritage Residential (HR)" compared to non-HR properties.
What confuses me a little is that on one hand there are some researches showing HR properties appreciate more/faster. On the other hand, if I understand the definition correctly, rebuilding such a property by a developer in the future (whether required due to condition or initiated by owner) might cost much more due to the city requirements to comply with HR zoning requirements - unique architecture, etc..(?)
Thanks,
Neil