By Melissa York.
Listed homes are usually worth around 50% more than unlisted ones, but there are often extra hidden costs and damages that buyers should be cautious of.
Buyer Beware: What You Must Know Before Purchasing a Listed Property
At Black Brick, we are passionate about helping our clients navigate the complexities of the prime property market — and few purchases require more careful due diligence than a listed building.
Our property specialist Tom Kain has extensive experience advising buyers on heritage properties, and his findings are striking. In the majority of modernised listed buildings he assesses, he identifies breaches in listed building consent — issues that estate agents frequently overlook and that can carry significant financial consequences for an unsuspecting buyer. As Tom notes, when it comes to understanding how a listed property has been updated over the years, it is very much a case of buyer beware.
The risks are real and can be costly. Unapproved alterations — whether a glass extension, a new lift, replaced windows or even a blocked doorway — can render a property unmortgageable, dramatically reduce its value, or leave a new owner facing enforcement action from their local authority. In one notable case cited in The Times, an unapproved lift and glass extension wiped £500,000 off the sale price of a grade II listed home.
To protect our clients from such pitfalls, Tom recommends two essential steps before proceeding with any listed property purchase. First, commission a surveyor to carefully compare the physical building against its official listing description. Second, instruct a heritage consultant to produce a detailed report assessing whether any breaches are likely to attract enforcement action and what remediation costs might be involved.
Listed properties command a significant premium — on average fifty per cent more than unlisted equivalents, rising to eighty per cent in London — and that premium is entirely justified for the right building in the right condition. However, the rewards of owning a piece of British architectural history must be weighed carefully against the responsibilities and potential liabilities that come with it.
At Black Brick, we ensure our clients go into every purchase with complete clarity — so that a dream home does not become an expensive surprise.
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