A listed building typically appreciates in value more than other properties – it’s almost unknown for a listed property to depreciate unless it’s been seriously damaged. Listed buildings are expensive to insure.
What are the disadvantages of buying a Grade 2 listed building?
The Cons of Owning a Listed Building
- You may not be able to make any changes to a listed building, or very few changes to a listed building.
- You are likely to need to obtain listed building consent (or LBC as it may be known) to make many changes to a listed building, where these are allowed at all.
What’s the difference between grade 1 and 2 listed?
Grade I: This means the property is of ‘exceptional interest’. Only around 2.5% of listed buildings are Grade 1 listed. Grade II*: This means the property is important and considered of more than special interest. Around 5.8% of listed buildings fall into this category.
What does living in a listed building mean?
It makes sense to start off with a brief explanation of what a listed building is, as not everyone will be fully aware of what the term means. Listed buildings are properties that have been included on the National Heritage List and deemed to be of ‘special architectural or historical interest’.
What can you not change on a listed building?
Don’t: Remove original features
Original architectural features cannot be removed from Grade 2 listed buildings; doing so could be a huge violation of its listing status. Such items include fireplaces, windows, doors, and stonework.
Are listed buildings hard to sell?
✅ Does listing a property make it impossible to sell it? No. In fact, if your building is listed then it might actually be more attractive to potential buyers because of its protected status. But note that this can also deter buyers who want to make changes to the home, as it’s harder to do this with listed buildings.
Can I put a new kitchen in a grade 2 listed building?
You can theoretically put a new kitchen in a Grade 2 listed building. Provided that you get Listed Buildings Consent and are not removing any period features.
Does it cost more to insure a Grade 2 listed property?
Yes, it’s likely to be more expensive to insure than a standard modern home. This is because you’ll need to keep a listed building as close as possible to its original state, so you might need to source rare or expensive building materials and specialist tradespeople for renovations or repairs.
Is it difficult to get a mortgage on a grade 2 listed building?
It is possible to obtain a Grade 2 mortgage with adverse credit, although this is likely to restrict the choice of lenders. If the property has a significant amount of land attached, or has outbuildings, or is also used for commercial purposes, then it is more likely you will need to use a specialist lender.
Can you remove internal walls in a grade 2 listed building?
You should not need to apply for planning permission for internal alterations including building or removing an internal wall. If you live in a listed building, however, you will need listed building consent for any significant works whether internal or external.
Should I avoid buying a listed building?
Here are a few things you need to be aware of:
This can be bureaucratic and time-consuming! You’ll need specialist insurance. The rebuild cost of a listed building will be significantly more than a non-listed building, as the local authority will determine how and if it will be rebuilt.
Is listed property a good investment?
Listed property is, usually, more affordable than direct property investments since they come in the form of trusts or funds traded in the share market. They are less stressful because investors can leave the selection and management of properties to professionals.
Does the 10 year rule apply to listed buildings?
Four and ten tear rules
You may have heard of such things as the four and ten year “rules” where after a period of time enforcement action is unable to be taken by a local planning authority. Unfortunately, in the context of works to listed buildings such rules do not apply.
Can I change carpets in a listed building?
It’s a very common mistake, though, and a lot of people (including builders and estate agents) will repeat it. If you live in a listed building, you can’t make any changes that will alter the historic fabric of the building without first getting Listed Building Consent.
Can you put a new kitchen in a listed building?
Listing is not meant to freeze a building in time – there’s always a good reason why the property is deemed to be of special interest. When replacing an existing kitchen, Listed Building Consent isn’t always needed unless you are planning to make structural changes that affect the historic character of your house.
Can you replace a roof on listed building?
Listed Building Consent is required to alter the design, material and colour of any roofs on a Listed Building. Listed Building Consent is not required to repair any roofs on a Listed Building where the original design structure, materials and colour are to be maintained.
How do you value a listed building?
Steps that may help establish the value of a historic building:
- Inspection, involving a detailed survey and analysis;
- Undertaking a historic survey involving any statutory listing, researching the building’s history and identifying any reference works, local records etc;
- Undertaking a detailed condition survey;
Can you refurbish a listed building?
Sarah Khan explains: “Works to the interior of a listed building only require listed building consent, which can be obtained by submitting an application to the council. But if you plan on doing work to both the interior and exterior of the building, you’ll also need to apply for planning permission.
Can I be forced to repair a listed building?
Can I be forced to repair my listed building even if I can’t afford it? Yes, but only if the building is decaying very badly. Local authorities have two main powers to halt the deterioration of a listed building the serving of an urgent works notice or a repairs notice.
Can you put a log burner in a listed building?
Adding one in would have to be approved to fit the building’s characteristics. However, if you want a wood burning stove then don’t let this put you off! Run everything by a professional planning advisor and they will work to turn your ideas into a warming reality.
Can you paint a Grade 2 listed building a different colour?
You don’t need Listed Building Consent to change the external colour of a listed building or its windows and doors unless you would like to: Change the finish type from lime wash to masonry paint. Paint a surface that has not been painted before.