Rules and Regulations that Affect Construction and Renovation

Should investors be able to renovate homes they purchase in historic areas? I think so, but what’s your opinion?

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An interesting thing has been happening in our real estate market lately. The city of Columbia has started putting historic overlays on certain neighborhoods that we haven’t been able to fully understand. The historic overlays prevent homeowners from improving or renovating their homes, even in the most basic ways.

In fact, I know of an investor who wasn’t even allowed to replace broken windows with rotting wood.

In my opinion, after selling thousands of new and renovated homes, property owners should have rights and one of those rights should be to repair their home.

As you can see in the video above, a lot of these properties are in very poor condition. They say this kind of home is “An example of a minimalist style that we don’t want to lose”, but I see it differently.

One property is bringing all other values down.

The fact is that for most of the homes in this neighborhood, this property represents potential. In its current condition, however, not so much. The poor condition of the home is bringing down the values of all the other bigger, nicer homes in the neighborhood.

Wouldn’t it be better if the owner of this home was allowed to tear this shack down and build a new home? Or at least renovate the home to an acceptable condition?

I want to know what your opinion is in the comment section below. Should the government have a say in what property owners can and can’t do to their homes? You already know my opinion. What is yours?

If you have any other questions for me, don’t hesitate to reach out. I would love to hear from you.