Our House

DOMINION LENDING CENTRES OUR HOUSE WINTER 2018 13 JEREMY DEUTSCH, ISTOCK still boasts most of its original features, including the 10-foot ceilings, oak floors, single-pane glass windows, wainscoting panels, wraparound staircase and a wood- burning fireplace. The kitchen is basically the only part of the house that's not original. "The thing about the heritage homes is each one is unique upon itself, in terms of quality of the build. You can't replicate that in today's buildings," he tells Our House magazine. Whereas quick-built houses of the past 50 years can look dated quickly, hand-built homes tend to retain their grace and good bones. They've also seen it all and are therefore less likely to surprise you than a new build. Their foundations have settled. They've been through windstorms, floods and even earthquakes. While it may have all the cool features you'd expect in a century-old gem, however, Sverdrup's house has a few less desirable aspects that you won't find in a modern home. There's no insulation in the walls, so in a cold winter the heating bills can soar. Also, fixing or replacing even the simplest of hardware, like light switches, requires careful sourcing. As Sverdrup points out, you can't just go to Home Depot to find these pieces. "Basically it's almost like a lifestyle; you're constantly working on the house," he says. "It will never be completed. Nothing is to code. Everything is the way they did back then." The home is not unique in either age or character. The street is lined with homes dating back to the late 1800s. While every city has its own way of dealing with its architectural legacy, in New Westminster, the city recently designated the entire neighbourhood a heritage conservation area. The policy means a heritage alteration permit is now required for changes to the front, sides or roofline of a house built before 1941, or any new residential construction in the neighbourhood. According to the city's website, the purpose of the policy is to minimize the loss of historic houses and street character, while ensuring any new builds are appropriate to the existing character of the neighbourhood. If you are keen on owning a heritage home, in other words, you'd best to consult with your local municipality on the rules around such structures first. Sverdrup sees both the pros and the cons of owning a heritage home under these restrictions. Homes that have been well cared for should provide more value, he says, but if the building's dilapidated, tearing it down or even making major renovations can be problematic. On the upside, some cities and provinces ožer grants for home improvements that adhere to heritage guidelines. "Some people love it and some people wouldn't love it. You have to be one who appreciates quality workmanship," he says. If you're convinced that a century-old charmer is the right place to hang your hat, there are financial considerations too. Sharon Davis is a mortgage planner with Blue Tree Mortgages West in Coquitlam, B.C. She has some experience with heritage homes and used to think anything with a whiž of "heritage" was problematic, but not so much any more. There are generally three types of heritage designations to consider for financing, Davis notes. » When a property is recognized as having some heritage/character/period significance but there are no restrictions on what the owner can do with it, there are typically no issues with financing and most lenders will entertain the mortgage. » When the property must retain the outside exterior look, but the inside can be as modern as the owner chooses it to be, not all lenders will like this situation, but it shouldn't be too troublesome to get financing. » When the property and dwelling is on the city's designated list, ažecting both the inside and outside of the property, it can be tough to finance. It's always best to contact a Dominion Lending Centres mortgage specialist to help you through the process. As for Sverdrup and his home, he has no intention to sell and buy something new. He would never be able to find anything else like it in the region for a price he could ažord, he says. Instead, he sees the house like a classic car. It's beautiful, but needs a lot of upkeep. TOP LEFT: Tony Sverdrup's house in New Westminster, B.C., oozes character, but the lack of insulation can cause heating bills to soar; ABOVE: Municipal regulations may limit what kinds of changes you can make to the interior as well, especially if it contains rare period features. "THE THING ABOUT THE HERITAGE HOMES IS EACH ONE IS UNIQUE UPON ITSELF, IN TERMS OF QUALITY OF THE BUILD. YOU CAN'T REPLICATE THAT IN TODAY'S BUILDINGS."

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