How`s your house pricing doing?..

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Friend in Oakville finally sold her house . Sat on market for a year at 2.2 million, its an intersting "historic" Bronte house , but the town whacked historical designation on it 3 yrs ago and nobody would touch it. Lovely place on Lakeshore , but you cant do anything with it. Sold at 1.2M , but its gone.

I like the designation but there needs to be something in it for the owner - free property taxes or heavily discounted for a cities right to tell me what I can do with my legally owned property

 

[GreyGhost]

Friend in Oakville finally sold her house . Sat on market for a year at 2.2 million, its an intersting "historic" Bronte house , but the town whacked historical designation on it 3 yrs ago and nobody would touch it. Lovely place on Lakeshore , but you cant do anything with it. Sold at 1.2M , but its gone.

If the town/historical society truly believes they are worth saving, the property owners should be responsible for paying current market prices for modern repairs (eg shingles or standard casement windows) and the town/historical society should foot the bill for the historical portion of the work (5-10x the modern bill). If the consequences of their decisions laid at their feet instead of kicking a 90 yo woman, the number of designations would plummet. There is little downside. As it is, their policies lead to demolition through neglect as repair is not financially viable and demolition will not be approved but nobody can stop abandonment.

 

[Mad Mike]

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