Advice on Buying a Heritage Property

by Adebah Constant • 1 MIN • 224 Words

Advice on Buying a Heritage Property
                                                                                                                        by Adebah Constant


 Section 34 of The National Heritage Resource Act (NHRA) [Act 25 0f 1999] states that:
‘No person may alter/demolish any structure/part of a structure which is older than 60years without a permit issued by the relevant Provincial Heritage Resources Authority (PHRA).
(The South African Heritage Resource Authority, SAHRA, is the national authority.)

Heritage properties have historical, architectural and cultural significance and are protected by the above-mentioned act. These properties are graded on 3 levels. 


Owners / Sellers                                         


• Homeowners of heritage properties (older than 60yrs), need to apply for a permit to do       any demolitions/alterations to the property.
• According to Section 40 of the NHRA, owners of heritage properties may apply to the             government for financial assistance.
• When selling a heritage property, the owner /the appointed agent must disclose the age     of the property.
• Heritage properties can take longer to sell.

Buyers
• Insurance on a heritage property can be more expensive than standard home insurance.
• A heritage property may hold some limitations to potential future improvements.
• Buyers should check the heritage status of the property before buying it.
• Buyers should obtain professional inspections to assess its condition and potential risks and        limitations.
       
                                                                                                                     [Ref: Thinkinsure.ca; Isure.ca, Property 24.com; www.sahra.org.za]


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The National Heritage Resources Act (Act 25of 1999)NHRA60yrspermitlimitationsrisks
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