Some people find Heritage-listed properties fascinating; others are of the opinion that a Heritage listing is a real headache with development restrictions.

“By being so unique and precious, it is important for us to protect and preserve heritage properties for future generations. There are a lot of benefits to owning a heritage property, they very often occupy prime locations, have more space, and have well-proportioned rooms, feature elegant and expensive finishes, and come with a wonderful sense of style and charm.”  Says, Shaun Rademeyer, CEO of MultiNET Home Loans.

Rademeyer says “However there are challenges involved with buying a Heritage home, but the benefits far outweigh the cons.”

In South Africa, all structures over an age of 60 years – including fixtures and fittings – are protected by the National Heritage Resources Act, 25 of 1999.  Whether bought fully renovated or still in need of some love and care, the romance and emotional pull of an older home holds enormous appeal for many.

1. Heritage properties frequently attract higher resale values because they and the surrounding areas are protected.
2. People may assume this means a heritage property cannot be changed at all. Actually, sympathetic changes are encouraged so as to ensure that the property is properly maintained and modernised. Owners must be aware what aspects of the original building are protected and especially important in maintaining its character. 
3. If you have a heritage home, there are opportunities to apply for grants or loans to help fund upkeep or maintenance. For example, there are Cities that, offer a 20% rebate for properties declared as heritage sites.
4. It is unlikely that the area surrounding a heritage home will be re-zoned or developed.
5. If a heritage property is well looked after, it will retain its appeal and will only grow in value over time.

1. There are arduous and strict restrictions around the development of a heritage property, including how they may be renovated, including the design and what building materials may be used.
2. The cost of renovating a heritage property can also be higher. New owners will have to look out for surprise costs for corrective electrical work or replacing roof trusses etc.
3. The approval period for renovation or development could take significantly longer. Not only do you need to deal with your local council, Heritage bodies will also need to approve your plans. Buyers wanting to buy and/or renovate a Heritage property should work with Heritage authorities and Council from the start, it would make the process flow smoother.
4. Complete demolition of a property isn’t usually allowed.
5. Take a look at neighbouring properties to see if any of them have been renovated or extended, that would indicate whether your local Council/Heritage Authority is receptive and perhaps you will find good Contractors that are experienced in dealing with Heritage homes.

Before taking on an historical property, make sure that it is fit for your requirements in terms of size and plan. Too often people buy buildings for their historical charm, only to completely alter them or to remove all patina or sense of past history,

Rademeyer says in closing; “Find a house you fall in love with, and consider its pros and cons objectively, as well as emotionally. The more logically you approach buying the house, the more you’re going to love living in it.”

If you are looking at buying property MultiNET Home loans can assist you in finding you the best home loan with favourable interest rates, for more information contact us 0861 54 54 44,  Whatsapp 061 537 8778 or visit www.multinet.co.za