Humber/Ontario Real Estate Course 3 Exam Practice

What might a buyer of a home with heritage designation have to deal with?

1. Obtain purchase approval from the heritage committee.

2. Only consult on external modifications, not internal changes.

3. Potentially lose certain property rights traditionally assumed.

4. Always have unrestricted use of the property.

5. Never require approval for any alterations.

6. Face no restrictions regarding the use of materials for renovations.

The correct answer is: Potentially lose certain property rights traditionally assumed.

A buyer of a home with a heritage designation may potentially lose certain property rights traditionally assumed because heritage designation often comes with regulations and restrictions that aim to preserve the historical and architectural significance of the property. This may include limitations on how the property can be altered, both externally and internally, to ensure that any changes do not adversely affect the heritage characteristics. These restrictions are put in place to maintain the integrity of historical homes and safeguard cultural heritage, which can significantly influence the buyer's rights regarding renovation and use of the property. In contrast, approval from a heritage committee for purchase or alterations is not typically required before a sale, and consultation mainly pertains to significant modifications that can impact the external appearance. While a buyer might frequently need approval for external changes, internal alterations might face fewer restrictions but still could require some level of oversight to maintain the character of the home. Unrestricted use of the property and the freedom to use any materials for renovations are generally contrary to the spirit of heritage designation, as these homes often have guidelines regarding the types of materials that can be used in renovations to ensure consistency with the original design.