Quote:
Originally Posted by l2ridehd
I personally would not buy on the edge of TV. And I would not buy on a busy street, near the train tracks or where I can see the power line towers or near a sewage treatment plant. Every one of those impact property value or have the potential to impact property value. While having a nice farm view is great today, tomorrow it might be a shopping mall or a drag strip or a strip club or a drive in restaurant open 24 hours. I guess anything could change in the future, but the more control over that change and the limitations to it, the better off you will be from a value perspective. I have tracked resale values for 4 years now and all those things impact sale price in a negative way. Especially the power lines. House for house there is a significant sale price impact on those homes that abut the power lines. Even a few rows of homes away there is still an impact. I know someone will identify the exception and someone else will buy there because it is doubtful it will change, but believe me when looking at many homes sold close to them the impact stands out.
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Excellent post. When we bought a few years ago, there was a horse pasture a couple of streets over that was wonderful. We could hear the horses whinny, and it felt like a little bit of our home up north. Within a year, the farm was gone and replaced by a new housing development. We have since sold and moved on to another neighborhood, but you just never know. I especially agree with the powerline comment. I find the lines unattractive, and have spoken to quite a few people that didn't buy their new home in a particular area, because of power lines, so I'm sure it applies to re-sales as well. I think a nice, central location, on a quiet street, is more valuable than a location on the perimeter, with potential noise or other problems.