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TODAY'S OTHER NEWS

Perils of owning a listed building

Owning a beautiful listing has some surprising restrictions which impending buyers and investors should be aware of, reveals The Listed Property Owners Club.

Whether it’s a chocolate box cottage or a historic house, there are several laws and regulations limiting what a buyer can change about a listed property.

One of the laws most buyers are unaware of is that if your property is located near a church, you may be liable to repairs, which refers to a law dating back to Henry VIII era.

If your abode has a thatched room, this could also be problematic, as the roof will need to be replaced or repaired every few years. Buyers must also be conscious of the type of thatch and the height of the roof, as both could come up against restrictions.

Even the smallest changes are likely to require permission from the local authorities, from double glazing your home to getting a satellite dish fitted.

Investing in a listed building can also be a more costly venture too. It has been revealed that owning a listed building can cost up to 50% more than a non-listed building, yet 50% of listed property owners fit into the lower socio-economic groups. If the owners are earning less, it will be increasingly difficult to ensure their listed building meets regulations.

The Listed Property Show, which provides buyers with the relevant information about listed buildings, is taking place in February and March 2016. 

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