Profile picture for wdh2

how do historical protection restrictions on a deed affect the market value of a property?

these historical protection restrictions are on a property in a neighborhood where there are no such restrictions on the other proberties in the area.
  • February 28 2014 - Chatham
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Answers (3)

Profile picture for sunnyview
It really depends on the restrictions and if there are any benefits to the historical district. In my are, we have several historical districts that vary quite a bit.

One of them is relatively flexible where you can do anything you like inside the house and most things outside as long as they aren't contrary to overall historical character of the neighborhood. That district also has grants available for zero interest repairs or restorations for 10 years and they also have a property tax district when taxes are frozen for 10 years. It is popular among buyers.

The other historical district is a bit more uptight. All additions must be approved by the neighborhood historical committee. Everything from paint colors to porch pots must be approved. They also have a low interest loan program, but the committee must recommend your house for it. That neighborhood is less popular with buyers because it is perceived to be too restrictive and not really family friendly.

Historical districts can be great in keeping old neighborhoods with character as long as they are well managed and buyers can appreciate the benefits of the neighborhood.
  • February 28 2014
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Depending not the type of restriction you have will determine how this will impact the market value.  In general, these restrictions will turn off some buyers and at the same time will turn on some other buyers.  If you are looking to sell, you are best to talk about how this helps to preserve the beauty and historical value of the home.  

John Kenney
  • February 28 2014
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Profile picture for RafaelAPRG
It all depends on the buyer and what they are looking to do with the property.  There are many historic homes out there that are protected by the community and city laws and zoning and as a result can definitely affect the price.  With the right marketing and exposure you can definitely still get a good price for the home as there is still not much inventory out there and buyer's do fall in love with a homes character and features.  Let me know if you want to discuss further in details.
  • February 28 2014
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